Bitcoin Gets Another Cold Shoulder at $76,000 as Bears Lurk Near the Door CATEGORY: Industry News

Bitcoin tried its luck pushing into the $74,000–$76,000 resistance zone, but the market said "thanks, no thanks" and slapped it back down. The rejection highlights that sellers aren't ready to hand over the keys just yet, leaving the premier digital asset sweating over short-term pullbacks. Analyst Kamile Uray points to $70,467 on the 4-hour chart as ground zero—if this level holds, bulls still have a fighting chance. Should Bitcoin break above resistance with convincing volume, the path clears toward $79,000, with $98,000 lurking as the next macro pie-in-the-sky target for the true believers.

Over on the 4-hour timeframe, analyst Minga observes that Bitcoin is essentially doing the consolidation waltz above last week's high on lower timeframes—meaning it's taking a breather after its recent sprint. Holding above this level hints at some underlying strength, but the lack of follow-through is making buyers twitchy. The push toward the upper boundary of its rising channel got absolutely wrecked, complete with a bearish engulfing candle—the kind of pattern that makes traders start sweating. The first 4H candle of the new day made a heroic attempt to reclaim upside momentum but ended up as an inverted hammer, which historically doesn't scream "party time." Bears are slowly creeping back into the chat, making a stronger case for a pullback, with $73,700 serving as the line in the sand to watch for a decisive breakdown.

If rejection keeps happening at resistance and Bitcoin breaks below $70,467, the technical picture starts looking about as cheerful as a crypto winter meme. That could open the floodgates toward the $68,000–$66,000 support region. On the daily chart, $65,666 remains the bedrock for the broader trend—crack that foundation and things could get spicy. In that nightmare scenario, Bitcoin might revisit $63,823, $62,433, and $60,000, with a daily close under $60,000 potentially confirming a longer bearish stint. A break below $73,700 could speed-run the move toward the lower boundary of the rising wedge, with Bitcoin potentially sliding toward the monthly open region around $65,000 over the coming weeks. Bitcoin was trading at $73,977 at the time of the analysis.