Traders pinpoint three price targets for Bitcoin if $70K holds as resistance
Bitcoin (BTC) analysts mapped out the key BTC price levels to watch as the market’s focus shifted to the $58,000 to $65,000 zone as the last line of defense.
Bitcoin price is wedged between two key levels
Bitcoin is currently wedged between the 200-week simple moving average (SMA) at $68,300 and the 200-week exponential moving average (EMA) at $58,400.
Generally, in Bitcoin’s trading history, major BTC bottoms have formed between the 200-week SMA and EMA, according to analyst Jelle. This suggests that Bitcoin is possibly forming a bottom between these trendlines.
Related: Bitcoin accumulation wave puts $80K back in play: Analyst
While Bitcoin has produced a weekly close above the 200-week EMA for the second week in a row, “this doesn’t mean it is now in the clear,” trader and analyst Rekt Capital said in a Monday X post, adding:
“The absence of any meaningful upside from here going forward, there is a risk that BTC loses the 200-week EMA in time, triggering additional downside.”
BTC/USD weekly chart. Source: Rekt Capital
Crypto investor and entrepreneur Ted Pillows had an expanded view, focusing on $71,000 for a bullish breakout.
In a Tuesday post on X, Ted Pillows said that Bitcoin needs a daily close above the $71,000 level to increase the chances of an upside rally, adding:
“And if a breakdown happens below $66,000, BTC might revisit $60,000.”
BTC/USD two-day chart. Source: Ted Pillows
Cointelegraph reported that the CME gap between $80,000 and $84,000 could act as a magnet, representing the upper price target for Bitcoin. With nine out of 10 CME gaps filled since August 2025, the $80,000–$84,000 range stands out as the key level to watch on the upside.
Bitcoin bulls must hold the price above $65,000
After turning away from $72,000 last week, Bitcoin found support at $65,000. Glassnode’s cost basis distribution heatmap reveals a significant support area recently established between $63,000 to $65,000, where long-term holders recently acquired approximately 372,240 BTC.
A decisive break below this level “would likely open the path toward the realized Price” around $55,000, Glassnode said in a Monday post on X.
Bitcoin cost basis distribution heatmap. Source: Glassnode
Current analysis suggests that the bears may aim to hold BTC price below $65,000 to remain in control. If they succeed, the BTC/USDT pair may then retest the critical $60,000 level. If the $60,000 support cracks, the next stop is likely to be $52,500.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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