Bitcoin has fallen back below its bear market resistance band on the daily chart, with the 20-week moving average sitting near $74K — roughly $1,000 above current prices. The move mirrors a pattern seen repeatedly in prior midterm years: BTC briefly clears the resistance band, bulls declare victory, then the price quietly deflates back below it without meaningful follow-through.
The lack of follow-through is the key tell. In 2023, Bitcoin sustained a clean break above the bull market support band before retesting it and pushing higher. This cycle's rally barely extended before reversing — a structure that historically resembles the fakeouts of 2018 and 2022 rather than a genuine trend change.
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Aggregated from Benjamin Cowen
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