Bitcoin Risks Falling to $71,000 as 'Rounded Top' Forms
- —BTC traded at $76,870, holding support at $76,000–76,300
- —The target on a breakdown is $70,900–71,000, with the pattern height at about $5,000
- —The 4-hour RSI is 54.5, with the price at the EMA20/50/100
- —Spot demand is negative, while futures demand is positive
Why it matters: A break below $76,000 would confirm the bearish scenario and could accelerate long liquidations, while a return above $80,000 would invalidate the pattern.
Source: CoinJournal