Bitcoin has begun a fresh decline from the $73,800 zone, struggling to maintain its position above critical support at $70,500. The cryptocurrency failed to hold gains above $72,500, trading now below $72,000 and its 100-hour simple moving average. A bearish trend line resistance is forming at $71,450 on the hourly chart.
If Bitcoin remains below the $71,500 and $72,000 levels, further losses are anticipated. Immediate support lies near $70,800, with a major support zone at $70,500. A breach of $68,800 could signal significant short-term recovery challenges. Key resistance levels to watch are $71,500 and $72,000.