Bitcoin bulls are attempting to turn a trio of resistance levels into support, a move that could determine whether the current downtrend ends soon or persists into next month.
Where price stands
– BTC/USD traded near $67,720 after being pushed back by the $70,000 mark following a midweek high of $70,040.
– On the weekly chart a cluster of barriers has coalesced into a clear resistance zone: the 200-week exponential moving average (~$68,330), the old 2021 all-time high at $69,000, and the psychological $70,000 level.
Why this matters
Analysts note that reclaiming these levels is important for restoring bullish momentum. In particular, a weekly candle close above the 200-week EMA is being watched as a confirmation that buyers have regained control — one trader, Captain Faibik, said such a close would likely pave the way for a push back toward $80,000 and suggested March could be bullish.
Broader breakout levels
Cointelegraph has highlighted a higher threshold tied to on-chain cost-basis metrics: the 18–24 month age band’s cost basis sits near $74,500. Breaking and holding above that level is being framed as a key trigger that could mark the end of the bear market.
Short-term context and historical parallels
February left Bitcoin down roughly 14%, marking a fifth consecutive red month. That kind of streak is uncommon and was last seen in late 2018 during the depths of the prior bear market. Some market observers point out history: after a 57% drawdown from August 2018 to January 2019, BTC then produced five straight green months and rallied roughly 317% from the lows.
If history offers a guide, the turn might come in April as selling pressure fatigues and buyers step back in. Still, history is not destiny — conditions can differ and outcomes vary.
Risk reminder
This write-up is informational, not investment advice. Trading and investing carry risk; do your own research and consider your risk tolerance before acting. Information here aims to be timely and accurate but cannot be guaranteed, and forward-looking comments involve uncertainty.
