{"id":7784,"date":"2025-03-15T19:08:44","date_gmt":"2025-03-15T19:08:44","guid":{"rendered":"https:\/\/demo5.dedicatedhost247.com\/zexo\/is-bitcoin-price-headed-for-70000-or-300000-what-the-charts-are-saying\/"},"modified":"2025-03-15T19:08:44","modified_gmt":"2025-03-15T19:08:44","slug":"is-bitcoin-price-headed-for-70000-or-300000-what-the-charts-are-saying","status":"publish","type":"post","link":"https:\/\/demo5.dedicatedhost247.com\/zexo\/is-bitcoin-price-headed-for-70000-or-300000-what-the-charts-are-saying\/","title":{"rendered":"Is Bitcoin Price Headed For $70,000 Or $300,000? What The Charts Are Saying"},"content":{"rendered":"


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Bitcoin\u2019s price trajectory has become a significant point of interest in light <\/span>of the recent downtrend<\/span><\/a>, which has disappointed many bullish traders. According to on-chain analytics platform IntoTheBlock, the recent price crash up to the current price has seen over 6.5 million BTC addresses falling into losses. Still, technical analysis suggests Bitcoin could experience further drops.\u00a0<\/span><\/p>\n

The question is whether <\/span>Bitcoin will test the $70,000 <\/span><\/a>mark before regaining strength or can rebound from here toward a $300,000 price target. Insights from price structure and historical patterns help provide a clearer picture of what\u2019s next.<\/span><\/p>\n

Bitcoin Price Decline: A Normal Cycle Within Uptrends<\/h2>\n

Despite concerns over Bitcoin\u2019s recent price swings, crypto analyst Philip (BasicTradingTV) <\/span>maintains that<\/span><\/a> the market is behaving normally within a long-term bullish structure. He highlights that on the higher monthly timeframe, Bitcoin continues to create higher highs and higher lows and maintains a solid uptrend that dates back to 2017.\u00a0<\/span><\/p>\n

Related Reading<\/span><\/h2>\n<\/p>\n

This technical outlook, which was noted on the TradingView platform, comes as a response to concerns about whether BTC is still bullish after the ongoing 25% correction from its recent all-time high.\u00a0<\/span><\/p>\n

Traders have been unsettled following the recent drop, but historical trends suggest this kind of movement is part of the market\u2019s natural cycle. According to the analyst, Bitcoin is still forming a bullish market structure, and while short-term fluctuations may continue, the broader uptrend channel from 2017 is still in place. Furthermore, the analyst noted previous instances of 25% and 40% corrections during Bitcoin\u2019s rallies from the lower trendline of this uptrend channel.<\/span><\/p>\n

What\u2019s Next For BTC? Possible Retest Of Resistance Before Rally To $300,000<\/h2>\n

With the notion of a long-term uptrend still intact, the analyst noted, however, that Bitcoin could <\/span>continue its downtrend<\/span><\/a> until it reaches $70,000. This level holds significant importance, as it previously marked Bitcoin\u2019s all-time high before turning into resistance around mid-2024. After multiple attempts, Bitcoin eventually broke through this resistance toward the end of the year, leading to its new all-time high of $108,786 in January 2025.<\/span><\/p>\n

Related Reading<\/span><\/h2>\n<\/p>\n

As such, this $70,000 level is now a major psychological support zone, making it a key area to watch amidst the ongoing Bitcoin price correction. From here, the analyst<\/span> predicted a rebound<\/span><\/a> that would send BTC to reach as high as $300,000. <\/span>\u201cLevels to watch: 70.000, $300.000,\u201d the analyst said.<\/span><\/p>\n

At the time of writing, Bitcoin is trading at $82,555, having spent the majority of the past 24 hours trading between $79,947 and $83,436. This leaves Bitcoin <\/span>still about 14% away<\/span><\/a> from testing the $70,000 support level.<\/span><\/p>\n

However, there is also the possibility that BTC may not drop as low as $70,000 <\/span>before bullish sentiment takes over<\/span><\/a> once again. If Bitcoin continues to follow the trajectory of past cycles, Fibonacci extensions point to price targets between $150,000 and $300,000.<\/span><\/p>\n

\"Bitcoin\"
BTC trading at $82,871 on the 1D chart | Source: BTCUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n

Featured image from Unsplash, chart from Tradingview.com<\/p>\n<\/p><\/div>\n\n","protected":false},"excerpt":{"rendered":"

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