Will bitcoin be able to sustain $70000

[Oshosondy]

Bitcoin increased to $74000 many hours ago, but it has decreased since that time till now. Right now bitcoin is at $72500 but will bitcoin be able to have a strong support at $70000 and not fall more.

Also will the bear market continues?

I think the bears could have turned bulls and turn bears back within a short period of time but I might be wrong about this.

[Cookdata]

Seems you wanted posting this in speculation and not in service.

[pawanjain]

Bitcoin increased to $74000 many hours ago, but it has decreased since that time till now. Right now bitcoin is at $72500 but will bitcoin be able to have a strong support at $70000 and not fall more.

Also will the bear market continues?

I think the bears could have turned bulls and turn bears back within a short period of time but I might be wrong about this.

We do have a strong support at $70k and according to me, we will be able to sustain this level.
We have had 5 straight months of red candles and that is very rare with bitcoin.
So a bounce back was imminent and I strongly believe we will finish this month in green.
The only way we end up in green is if bitcoin stays above $67k price.

[justinlamode]

I will comment assuming we are in the speculation board because that is where the posts will be moved to when seen by the moderator. Bitcoin is already setting up for another crash if we follow what the chart is saying but we are in a in era of increased volatility so patterns will be violated by news around certain global events like the war in the middle east. Despite this, I'm  not too excited about the market rally because I don't seenit as being sustainable.

[Oshosondy]

Seems you wanted posting this in speculation and not in service.

Thanks, I have moved it to speculation board. Yes, I wanted to post it on the speculation board.

[Eternad]

Considering that there’s still existing war that can affect heavily the price of the oil I believe there will be many opportunities that Bitcoin will dip below 70K.

Traders probably just buying and selling short term since the price always reacts aggressively if it hits a major wall or support which is the 60K and 70K+ level.

There’s chance that it might continue the pumping depending on the people behavior towards the aftermath of the war.

[Nathrixxx]

With the way bitcoin is performing currently, the indication is showing that it's probably going to maintain $70,000 for now before any retracement would occur, although we must not forget that we are still in the bear market, as such, the market is liable to fall at any time the same way it rises, while we may still have it that $70,000 is being maintained for now all through this month before any further fall or rising above it.

[YOSHIE]

Also will the bear market continues?

Yes, I speculate that the crypto market in the next few months will experience a bear market again, maybe if I speculate there are several reasons why a bear market situation will occur.
Example:
• as far as I know the US, Israel and Iran have one of the largest global crypto market transaction volumes, meaning that these three countries have Bitcoin deposits in total.

In essence, if the three countries are still spending money on missiles and Iron Dome attacking and blocking each other, of course they will spend a lot of money, I speculate they will sell reserves Their Bitcoin to buy and create more missiles and Iron Domes, this will automatically impact the crypto market leading to a bear market, that's my speculation.

[Agbe]

The actual bear season has not come and I am expecting that from the Month of April. This decline of bitcoin now is just to tell us that this year is a year of bear market and the bull market will start from number this year. This Month bitcoin might hit $75k but in the month of April it will come down again.

[8rch7]

Bitcoin already hit higher price to $74k today but it didn't last long enough recently bitcoin drop and correction until $70k, current bitcoin moving significant and take short term moment break out I think the same pattern for bitcoin will drop in lower price without need longer time. Prepare your position indeed bitcoin already break out to $74k but don't quite long to hold how last several pattern bitcoin not stable yet at the higher price.
Seeing several moment after bitcoin success up more than 10% we can't avoid from possibility bitcoin will drop and according to the percentage increase with possibility bitcoin back under $70k.

[Awaklara]

I am still not confident about the pump that happened in such a short time, it might not last long and could drop back to $65k. Now Bitcoin has fallen to $71k, and I think the next decline is inevitable. But I might also be wrong. I thought we might soon be below $70k. We may not need to rush too much to see a change in direction from bearish to bullish.

[aoluain]

My take is that we were in a Bear market before this other illegal war kicked off and its not suddenly going to
change like a light switch because if it. I think short term the market might sustain a position above $70k but
in the long run the market will resume the Bear market movements downwards. So ATM there is definitely
an air of speculation trending towards a turn to a Bullish sentiment but it will be short lived and run out of steam
when more realise.......its still a Bear market.

[yhiaali3]

Given Bitcoin’s performance over the past few days, I believe it is very possible that Bitcoin will find a very strong support point and be able to maintain a strong support level at $70,000 and stop falling.

Although I do not deny that there may be further declines, I believe that conditions are favorable for Bitcoin to maintain this level, with the continuation of the war, the rise in oil derivative prices, and the tendency of more people to use Bitcoin as a safe haven, this has become very possible.

[NeuroticFish]

The actual bear season has not come

I would love to read a bit more on why you don't think that bear season didn't come, given that we are down from 126k and we went down to about 60k.
Did you expect even bigger drop of price? There's still time for it, although even with the current "dip" qualifies good enough for bear market.

Also will the bear market continues?

I think so. This may be some sort of bull trap, somewhat also fueled by desperate people in Middle East looking for a safe asset to exchange easily their fiat into.

[Fiatless]

Bitcoin increased to $74000 many hours ago, but it has decreased since that time till now. Right now bitcoin is at $72500 but will bitcoin be able to have a strong support at $70000 and not fall more.

Also will the bear market continues?

I think the bears could have turned bulls and turn bears back within a short period of time but I might be wrong about this.

The search for safe-haven assets is drawing investors to Bitcoin. Gold and silver also experience an increase in price. The question about the coin sustaining $70k is tricky. If the war continues and investors' behaviour about Bitcoin as a safe asset still remains, Bitcoin would sustain $70k. We could just experience a massive self-off which could drop the price. I don't think the bear season has ended. The recent war in the Middle East is creating uncertainties that make price predictions difficult. But my take is that the Bitcoin price might drop after the war.

[salad daging]

Until when, is it for this month or this week?

The $70K level will not last long at least that's from my own observation, the price could return to the bearmarket where the support point could not be strong considering the current situation is still heating up for world geopolitics.

This rise many people say there is a flow into ETFs then triggered the rise, I do not know if it will last long this positive trend? For me bitcoin is still in the bearmarket so the price can go down again.

[sunsilk]

It only took several hours for Bitcoin to move from $64k to $74k. And when it didn't sustain that $74k, we think that it's already bear market.

Give it time folks, that's how the market works and we don't know if that's also a trap in there. Let's just watch and see how it will be for the next weeks to come.

Because if it sustains and stays above $70k. That's a good call but if it's a trap then we'll see it go back to $60kish.

[Agbe]

I would love to read a bit more on why you don't think that bear season didn't come, given that we are down from 126k and we went down to about 60k.
Did you expect even bigger drop of price? There's still time for it, although even with the current "dip" qualifies good enough for bear market.

In the last cycle, bear market started from April and before then, the price was coming down gradually. I am still predicting the price to hit $55+k. Bitcoin hit All Time High ($67+k) in 2021 and in 2022, the price came down to $42k and that was also a Bear market as of then and in April 2023, the price drastically come down and in that the same year, the price of Bitcoin declined to $15k and in 2024, the price rise again. So I am using that experience to predict this now.

[suzanne5223]

Bitcoin increased to $74000 many hours ago, but it has decreased since that time till now. Right now bitcoin is at $72500 but will bitcoin be able to have a strong support at $70000 and not fall more.

Also will the bear market continues?

I think the bears could have turned bulls and turn bears back within a short period of time but I might be wrong about this.

It is hard to tell now, as the Bitcoin market trend is currently in the accumulation mode, and its distribution mode will tell if the bear will continue or it is going to be bullish, but it still has a fair value gap below and above to take out. Therefore, the market ought to take out each FVG one after another i.e If the market is bullish when distribution happen it ought to come back below the current market price range.

[Pi-network314159]

Bitcoin increased to $74000 many hours ago, but it has decreased since that time till now. Right now bitcoin is at $72500 but will bitcoin be able to have a strong support at $70000 and not fall more.

Also will the bear market continues?

I think the bears could have turned bulls and turn bears back within a short period of time but I might be wrong about this.

No one knows if Bitcoin will have a strong support at $70k or not since the market is unpredictable and everything remains speculation. Neither do anyone knows if we are going to bear and turn bull again, as far as Bitcoin is concerned we should expect bear market to continue because we have been too Long in Bull. But if this season bull will start earlier than others then it will be fine since all we need is to see the market green we don't mind.