Bitcoin on the higher timeframe is telling a very different story compared to the short-term charts. Currently hovering around 67.5k after facing rejection near the 69k–70k zone, price action is struggling to show any strong continuation.
That 69k–70k range is clearly acting as a supply zone. Each attempt to move into that area is being sold off rather than accepted, which supports the idea that buyers aren’t ready to take control just yet. The reactions from that level lack the strength needed to signal a shift in momentum.
Looking at the broader structure, BTC remains below the key weekly EMAs (7, 25, 99), all of which are sloping downward. This kind of setup typically doesn’t support sustained upside. Instead, it often leads to the formation of lower highs and gradually increasing downside pressure.
The bounce from 60k was notable, but it hasn’t altered the overall trend—it mainly helped ease oversold conditions. Now, price is back in a critical range, and so far, sellers appear more aggressive at higher levels than buyers are at support.
If rejection around 69k–70k continues, a move back toward lower support zones would not be unexpected. The market still feels heavy, and until BTC can reclaim higher levels with strong conviction, downside risk remains firmly on the table.
