• Bitcoin’s consolidation nears ’turning point’ as $70K comes in focus: Analyst Bitcoin’s sideways price action begins to narrow as a key trading metric hints that a decisive breakout is pending. • Will bulls finally overcome the $70,000 resistance zone? • Cointelegraph in your social feed Bitcoin (BTC) trades in a tight $65,000-$70,000 range on Wednesday, a structure that has held for the past two weeks. • The lower time frames show a bullish divergence, signaling fading short-term selling pressure, while futures data indicate fresh long positions opened from $66,000. • Analysts say the compression may precede a breakout attempt, with liquidity clusters below $66,000 and above $71,000 being the zones that may define the next directional move. • Bitcoin’s bullish divergence rests near a support level On the one-hour chart, Bitcoin is forming a descending channel similar to last week’s structure that preceded a move toward $70,000.
Article Summaries:
- Bitcoin (BTC) trades in a tight $65,000-$70,000 range on Wednesday, a structure that has held for the past two weeks. The lower time frames show a bullish divergence, signaling fading short-term selling pressure, while futures data indicate fresh long positions opened from $66,000. Analysts say the compression may precede a breakout attempt, with liquidity clusters below $66,000 and above $71,000 being the zones that may define the next directional move. Bitcoin’s bullish divergence rests near a support level On the one-hour chart, Bitcoin is forming a descending channel similar to last week’s
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