Is Bitcoin Price Headed For $70,000 Or $300,000? What The Charts Are Saying
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Bitcoin’s price trajectory has become an important point of interest for light Recent downward trendwhich disappoints many bullish businessmen. According to On-Chain Analytics Platform into theblock, the recent price crash to the current price has fallen into losses with 6.5 million BTC addresses. Still, technical analysis suggests that Bitcoin may drop further.
The question is whether Bitcoin will test $70,000 Tags before regaining strength, or can bounce from here to a target of $300,000. Insights from price structure and historical patterns help to have a clearer understanding of what’s going on next.
Bitcoin price decline: normal cycle within an uptrend
Despite concerns about Bitcoin’s recent price volatility, crypto analyst Philip (BasicTradingTV) Keep this The market is usually manifested in a long-term bullish structure. He stressed that over the higher time frames per month, Bitcoin continues to create higher highs and higher lows and maintains a reliable upward trend dating back to 2017.
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This technological prospect is pointed out on the TradingView platform, which is a concern about whether BTC remains optimistic after its 25% correction at its recent all-time highest.
Traders are upset after the recent decline, but historical trends suggest that this movement is part of the market’s natural cycle. According to analysts, Bitcoin is still forming a bullish market structure, and while short-term volatility may continue, the broader upward channels for 2017 are still in place. Additionally, the analyst noted that the number of corrections on the lower trend line of the upward channel was 25% and 40% during the Bitcoin rally.
What’s next for BTC? Resistance may be re-collected before $300,000
Analysts point out that as the concept of a long-term uptrend remains intact, Bitcoin can Continue to decline Until it reaches $70,000. This level has important importance as it previously marked Bitcoin becoming resistance around mid-2024. After many attempts, Bitcoin finally broke this resistance by the end of the year, which led to a new all-time high of $108,786 in January 2025.
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So, this $70,000 level is now a major psychological support zone, making it a key area in the ongoing Bitcoin price correction. From here, the analyst Predicting a rebound This will bring BTC to as much as $300,000. “The level to watch: 70.000, $300.000,” the analyst said.
At the time of writing, Bitcoin traded at $82,555, with most transactions over the past 24 hours between $79,947 and $83,436. This leaves Bitcoin Still about 14% Passed the test of $70,000 support level.
However, BTC may not be as low as $70,000, too Before bullish sentiment takes over again. If Bitcoin continues to follow the trajectory of the past loop, the Fibonacci extension name target is between $150,000 and $300,000.
Featured images from Unsplash, charts from TradingView.com
