Morning light finds Bitcoin like a tired farmer’s horse, dragging its hooves below 73,500, losses stacking while the market squints at the horizon and pretends it’s business as usual.
- Bitcoin is trying to recover but keeps tripping over invisible fences called hurdles.
- The price sits below 75,000 and the 100-hour moving average, as if the town clock has run late.
- A bearish trend line is forming with resistance at 75,200 on the hourly BTC/USD chart (data from Kraken), a fence that keeps the cattle in.
- It might dip again if it breaks below 72,000 and 71,200, a pair of wells drying up in a dusty valley.
Bitcoin Price Dips Further
Bitcoin couldn’t keep a stable smile above 75,000 and slid through 74,000 and 73,500, until the bears nudged it below 72,500 like a stubborn mule.
A low at 71,532 was carved into the sand, and now the price is lingering, losses stinging in the air. The action sits under the 23.6% Fibonacci retracement of the move from 76,866 down to 71,532, and the bearish line with resistance at 75,200 still leans over the field.
Bitcoin is trading below 75,000 and the 100-hour moving average. If it can stay above 72,000, it might try a new climb. Immediate resistance sits near 72,850, with the first major hurdle around 74,200.
A close above 74,200 could push it higher, testing 75,000 or even the 61.8% retracement of the fall from 76,866 to 71,532.
Any more gains could steer the price toward 75,500 and the old trend line. Other gates for the bulls stand at 76,850 and 78,000.
Another Decline In BTC?
If Bitcoin cannot rise above the 75,000 wall, another decline might begin, the kind of thing the market is famous for stoking after breakfast. Immediate support is near 72,000; the first major support around 71,200.
Next support lies near 70,500. More losses could drive the price toward 70,000 in the near term. The main support now sits at 68,000, below which BTC might find recovery a hard labor.
Technical indicators:
Hourly MACD – The MACD is gaining pace in the bearish zone, like a wagon creaking up a hill.
Hourly RSI – The RSI for BTC/USD is below 50, a snug fit in the middle of the ledger.
Major Support Levels – 72,000, followed by 71,200.
Major Resistance Levels – 72,850 and 74,200.
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2026-02-05 06:01