Bitcoin closes lower for the fifth consecutive month, with $70,000 becoming a key resistance level
On February 27, Bitcoin faced resistance at the $70,000 round number and is currently fluctuating around $67,000. Technical analysis shows that BTC is facing triple weekly resistance levels: the 200-week EMA (approximately $68,330), the 2021 high of $69,000, and the psychological barrier at $70,000. Short-term rebound potential is limited.
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Bitcoin closes lower for the fifth consecutive month, with $70,000 becoming a key resistance level
On February 27, Bitcoin faced resistance at the $70,000 round number and is currently fluctuating around $67,000. Technical analysis shows that BTC is facing triple weekly resistance levels: the 200-week EMA (approximately $68,330), the 2021 high of $69,000, and the psychological barrier at $70,000. Short-term rebound potential is limited.