Would Bitcoin break it's $70k price resistance level?

[Out of mind]

Although the Bitcoin market was looking a little up yesterday and many thought it might break $70k, it did not happen. Instead, the market has moved downwards again, especially the market candles have turned red, due to which the market has currently fallen to $64k. However, I think the market is not likely to grow much this year, but rather the way the market is currently going, it will rise and fall again. And if the market holds a strong green candle and there is a good support, then the market will definitely have the possibility of going above $70k. According to the market situation at the moment, I think it would be best to buy, if you do not get discouraged and buy continuously, it is best for the future.

[EarnOnVictor]

See Bitcoin as an undecided market, it has gotten to a level where a severe punch must happen before a clear path would be visible. But let's be clear, the risk of a successful bullish breakout is so little, and the risk of bearish breakout is very high. Still, I expect it to move between $59,000 and $70,000 for now.

The reason is that the institutional investors are involved, and new buyers are piling up, even as liquidation is also happening. This makes it haphazard, and it will continue for a long time, which will make the market looks unserious, and slips into a ranging pattern.

[Marvelockg]

so looking at that $70k Bitcoin price resistance, do you think Bitcoin would break through?

One thing that is certain is that it is just a matter of time that is a bit uncertain for bitcoin to get pass $70k. when that will happen is something we can not really tell but certainly, it will get pass $70k. we can not continue to talk about every short term market correction as though it is bound to bring about a serious DIP or that when there is even the slightest bull that we are going far up because of that. it will take time before we see certain prices looking at what we have now but that being said, it will eventually happen and that is the reason why staying invested and accumulating more bitcoin during this time of DIP is actually necessary.

[Swordsoffreedom]

The market is still in a downtrend, and global geopolitical tensions are heating up more than ever as conflict between the US and Iran began today. Therefore, to avoid disappointment, we should stop expecting Bitcoin to recover or surpass its previous peak in the short and medium term
Global instability is escalating, and risky assets like bitcoin and stocks will face pressure, making a sell off almost inevitable

Bitcoin will break through the $70k or $100k resistance, or reach a new ath, but this is not the time to discuss that. Let's put that aside for now and focus on accumulating bitcoin.

[Pandorak]

Lately Bitcoin has been doing crazy numbers,after hitting a low of around $62k price surges high gaining over 3% in value in 24hrs and then hitting $70k and bouncing back down. Alots of speculation online are suggesting that Bitcoin it's on its path to full price recovery and would surely update it's all time high price due to the fact that more investors and big companies are currently buying.so looking at that $70k Bitcoin price resistance,do you think Bitcoin would break through?

First of all, i am confident and believe that we have entered a bearish market phase, judging from the market structure that has formed, creating a lower point than the previous resistance and successfully breaking through the important monthly time frame level at $74k.

The price level at $70k that you mentioned will definitely be broken out again, it's just a matter of time before that happens. Extra patience is required and while waiting you can continue to make gradual purchases using the DCA method, the current price is already very cheap to start accumulating.

[STT]

For now its not going to do this, we're in a trend decline short term and every other perspective bar  the longest time frame of all.
  Until BTC can break its negative regular decline I wont presume 70k or any other resistance level is going to be challenged.  67k is top of this trend of most immediate concern, if we break out from that its worth looking further afield for larger negatives.

[jostorres]

First of all, i am confident and believe that we have entered a bearish market phase, judging from the market structure that has formed, creating a lower point than the previous resistance and successfully breaking through the important monthly time frame level at $74k.

The price level at $70k that you mentioned will definitely be broken out again, it's just a matter of time before that happens. Extra patience is required and while waiting you can continue to make gradual purchases using the DCA method, the current price is already very cheap to start accumulating.

I would say we are not really going to see the price to start recovering just yet, that's may happen on this new month but not sure because of no any confirmation and geopolitical events. We are in the bear trend as we can see and that means we are going to end up with some issues that would not be all that simple for a long time.

For the bitcoiner who experienced previous complete cycles, the current market scenario are not a big thing but in real time during bearish trend, we cannot assume that all holders will have same psychology. Price recovered compared to yesterday but another testing of 63k to 62k could be highly possible as per current scenarios.

[LogitechMouse]

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so looking at that $70k Bitcoin price resistance,do you think Bitcoin would break through?

No... or at least not in the next weeks.

The recent war between Iran and US alongside other countries might have a negative effects towards the crypto market and we've seen it first hand. US attacked Iran, market dumped. Supreme Leader of Iran got killed, the market went up. Soon there will be some news that might have an effect towards the market. We just don't know what they will be, and when it will happen, but I don't see Bitcoin reaching $70,000 because for me, that's a strong psychological support in the short term, and there might be many sellers up there.

What could be a catalyst that would push the price to $70,000 and even higher prices? I don't know and TBH, I can't think of any right now. Maybe if Trump announces that Iran will surrender and they will take over on that country then that might have a positive effect towards the market, and that might happen. We just don't know what news would push the price of Bitcoin to that price... or do we even need news to push it's price to that level.

[As-Soon-As]

The price of Bitcoin is not rising abnormally but it is going up and down slightly, the reason for the fluctuation of the price of Bitcoin is that some investors and whale investors are buying Bitcoin and holding it for a long time. It is not unusual for the price of Bitcoin to be $70k plus, but you can definitely take the opportunity to buy Bitcoin during this dip and if you hold it for a long time, you will definitely be successful. So buy Bitcoin and hold it for a long time but be patient and hold your holding until the price of Bitcoin reaches its highest price.

[taufik123]

-snip-
What could be a catalyst that would push the price to $70,000 and even higher prices? I don't know and TBH, I can't think of any right now. Maybe if Trump announces that Iran will surrender and they will take over on that country then that might have a positive effect towards the market, and that might happen. We just don't know what news would push the price of Bitcoin to that price... or do we even need news to push it's price to that level.

This kind of news is only a temporary trigger in my opinion, not a real benchmark of how the price of Bitcoin will be triggered.
Those with more power and more money are just trying to influence the market with a narrative that looks as if Bitcoin will collapse when this war is not over and when Trump does not stop to launch his missiles at Iran.

This is only a temporary effect because various kinds of FUD appear that the global economy is not good, and then retail traders start to exit because of their panic about prices that will occur after the war.

Remember that this is not the only time Bitcoin has been associated with wars, the global economy and the like, it has been quite often but in the end Bitcoin remains strong because it is not based on full rules on the government or individually, but because Bitcoin is decentralized, stands alone and is able to reach its highest price after the world crisis occurs.

[Orpichukwu]

Lately Bitcoin has been doing crazy numbers,after hitting a low of around $62k price surges high gaining over 3% in value in 24hrs and then hitting $70k and bouncing back down. Alots of speculation online are suggesting that Bitcoin it's on its path to full price recovery and would surely update it's all time high price due to the fact that more investors and big companies are currently buying.so looking at that $70k Bitcoin price resistance,do you think Bitcoin would break through?

Only a few exchanges were able to pick the $70k level, which Bitcoin recently reached, before claiming down; others recorded $69,900 and higher. As for those saying Bitcoin is on its way to a full recovery, I doubt if that's true because $70k is not that high, and if we are to start thinking about the effect the war which just got started will have on the market, the market is a long way from reaching a new high for now.

[fuguebtc]

Lately Bitcoin has been doing crazy numbers,after hitting a low of around $62k price surges high gaining over 3% in value in 24hrs and then hitting $70k and bouncing back down. Alots of speculation online are suggesting that Bitcoin it's on its path to full price recovery and would surely update it's all time high price due to the fact that more investors and big companies are currently buying.so looking at that $70k Bitcoin price resistance,do you think Bitcoin would break through?

Only a few exchanges were able to pick the $70k level, which Bitcoin recently reached, before claiming down; others recorded $69,900 and higher. As for those saying Bitcoin is on its way to a full recovery, I doubt if that's true because $70k is not that high, and if we are to start thinking about the effect the war which just got started will have on the market, the market is a long way from reaching a new high for now.

Even without war, expecting bitcoin to reach new record highs is unrealistic. Because Bitcoin has just gone through a prolonged bull cycle and pushing its price up to $126k. And as we all know, no market can grow forever. After a bull market, the market will need to enter a correction and accumulation before embarking on a new bull run. Therefore, expecting Bitcoin to continue reaching new ATH this year is unrealistic and somewhat greedy.

[JeffBrad12]

Super hard to predict with whats ongoing in the middle east etc. The reason you see consolidation on the 4h timeframe is because everybody is still wait and see. We don't know if the market gonna go down again and trust me it's still possible.
If you are thinking of investing, I'd recommend to wait until the chart become more clear and there's indication for a big price movement, regardless whether bearish or bullish.

[Lida93]

Lately Bitcoin has been doing crazy numbers,after hitting a low of around $62k price surges high gaining over 3% in value in 24hrs and then hitting $70k and bouncing back down. Alots of speculation online are suggesting that Bitcoin it's on its path to full price recovery and would surely update it's all time high price due to the fact that more investors and big companies are currently buying.so looking at that $70k Bitcoin price resistance,do you think Bitcoin would break through?

Certainly, bitcoin price would break through surging high again but it's actually going to be in a matter of time before that happens. The global tension has really reflected on the market a lot and technically we are in a bear market so expecting a recovery right now is clearly not foreseeable. The 70k resistance to me would only be broken by a fundamental news that creates a positive sentiment on the market but we don't know when that would be.

[free-bit.co.in]

Super hard to predict with whats ongoing in the middle east etc. The reason you see consolidation on the 4h timeframe is because everybody is still wait and see. We don't know if the market gonna go down again and trust me it's still possible.
If you are thinking of investing, I'd recommend to wait until the chart become more clear and there's indication for a big price movement, regardless whether bearish or bullish.

I do not know what you see on the chart. But in my opinion, Bitcoin has fallen significantly, more than 50% from its peak. This may not be the bottom yet, but it is a good time to start buying. Especially if you have a long term perspective or are preparing for the next bull market, expected to occur in 2028. Accumulating at the current price is a worthwhile option to consider instead of continuing to hesitate.

War could affect bitcoin and the price could fall further, but I do not think it's likely to cause bitcoin to drop another 50% from its current price. Therefore, buying now means we are buying near the bottom price.