Bitcoin price has stabilized above $70,200 after a rally that pushed it toward $72,000. The cryptocurrency now faces a pivotal barrier at $71,650-a key resistance level tied to Fibonacci retracement and prior swing highs.
A sustained close above $71,650 could trigger a move toward $72,650 and potentially $73,500. But failure to break through may trigger a decline toward $70,400 support, with deeper levels at $70,000 and $69,200.
Hourly technical indicators show weakening bullish momentum. The MACD is losing steam in positive territory, and the RSI has dipped below 50-signaling potential exhaustion among buyers.