Bitcoin Price Analysis: Will BTC Next Drop Below $70,000 as Selling Pressure Intensifies?

Bitcoin fell below the $74,000 support zone, leaving buyers struggling to regain control near $74,500. The latest breakdown increases the risk of a deeper correction, while the liquidation heat map highlights close concentrations on both sides of the market.

Bitcoin price analysis: the daily chart

The daily chart shows that Bitcoin is trading below the lower boundary of the $75,000-$78,000 demand zone after repeated testing. The earlier rally towards $81,000 was rejected near the midpoint of the ascending channel, and subsequent bounces failed to reverse the sequence of lower highs and lower lows.

Although recent candles show buying interest below $74,000, the response has been insufficient to sustainably reclaim the broken demand zone. The current daily candle remains open, so confirmation depends on whether Bitcoin closes below $75,000 or recovers this level before the end of the session.

Continued acceptance below $75,000 would leave the lower boundary of the ascending channel, around $73,000, as the next important technical benchmark. A decisive break below this trendline would weaken the broader ascending structure and expose the marked demand zone between $67.8K and $69.8K, which encompasses part of August’s strong upward expansion.

Alternatively, reclaiming $75,000 would reduce immediate downside pressure, but buyers would still need to reclaim $78,000 to demonstrate more significant improvement.

Until then, rebounds remain vulnerable to sales within the old demand zone.

BTC/USDT 4-hour chart

The four-hour chart shows Bitcoin breaking both the lower boundary of its descending channel and the recent consolidation base. The decision zone marked around $75.5k to $77k now lies above, making it an important test for any recovery.

The initial sale reached around $73.5K before buyers pushed the price back towards $75.5K. However, this bounce failed near the lower edge of the decision zone and BTC has since moved back towards $74.5k. This rejection suggests that the old support is beginning to act as resistance.

As long as Bitcoin remains below $75.5K – $77K, another test of the $73.5K low remains plausible. Losing this low would strengthen the bearish continuation scenario and highlight daily channel support around $73,000.

Conversely, recovery from the decision zone would weaken the immediate breakout and could support a recovery towards the upper boundary of the descending channel around $79,000 to $80,000. The broader supply zone of $79.8k-$82k remains a substantial hurdle beyond this initial rally.

Sentiment analysis

Binance’s liquidation heatmap shows concentration near long-term liquidation risk estimated at $73,000 to $73,500, below the current Bitcoin price. This broadly matches the recent low and approach to the daily channel boundary, making it a relevant area if the selling continues.

Crossing this concentration could trigger forced closures in the long term and amplify short-term volatility. However, the cluster represents potential liquidation exposure rather than confirmed buying demand, so reaching it would not automatically establish a floor.

Above the market, a significant concentration lies between $76.5k and $77.5k, straddling the upper part of the four-hour decision zone. A successful recovery from nearby resistance could expose these levels and potentially accelerate a rebound through short selloffs. Larger overhead concentrations remain around $81,000 to $82,000.

For now, weak price structure keeps the focus on the nearby group of declines. A sustained recovery between $75.5k and $77k would be necessary to draw attention to the larger liquidation concentrations above.