Bitcoin Closes Below the Bear Market Resistance Band
The video argues that Bitcoin has closed back below the bear-market resistance band, following a recurring midterm-year pattern of brief rallies above that band without follow-through. The speaker concludes it is likely Bitcoin will tag $70K, bounce briefly, then fall back toward the February lows, citing similar price action in 2018 as precedent.
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The speaker reports that Bitcoin has closed back below the bear-market resistance band.
He says Bitcoin typically gets midterm-year rallies that briefly exceed the resistance band but lack follow-through and are often rejected at the 200-day moving average.
He predicts Bitcoin will likely tag $70K soon, bounce for a few days, and then return to the February lows.
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