Bitcoin Coils Below Six-Week Highs as Gold Stays Vulnerable at $5,000
The post Bitcoin Coils Below Six-Week Highs as Gold Stays Vulnerable at $5,000 appeared on BitcoinEthereumNews.com.
Bitcoin consolidated recent gains in the face of blanket skepticism over its rebound, while gold threatened to give up $5,000 support. Bitcoin (BTC) hovered around $74,000 after Tuesday’s Wall Street open as skepticism increased over BTC price strength. Key points: Bitcoin stalls after a trip to $76,000, with short-term targets including a retreat to $68,000. Traders stand by the long-term bear market thesis for BTC/USD. Gold continues to show weakness, risking the loss of $5,000 per ounce support. Trader warns against “hyping up” BTC price move Data from TradingView showed cooling BTC price volatility after a run to new six-week highs of $76,000 to start the daily candle. BTC/USD one-hour chart. Source: Cointelegraph/TradingView The move proved unsustainable as heavy resistance pushed BTC/USD lower, raising concerns of a fakeout, according to Telegram channel Technical Crypto Analyst. “Bitcoin is trending upward inside a rising channel and approaching the $74K–$79K resistance zone; while structure remains bullish above the trendline, a rejection from current levels could trigger a pullback toward the $68K support area,” it wrote on the day. BTC/USDT perpetual contract four-hour chart. Source: Technical Crypto Analyst on Telegram Traders stayed wary, doubling down on existing doubts about the fate of Bitcoin’s relief rally. “Still nothing on HTF that suggests the bear market has bottomed. No divs, no volume at lows, no reversal pattern, etc,” trader Roman wrote in his latest analysis on X, referring to higher time frames. Roman argued that market participants were “hyping up” a comparatively modest uptick in price, and that history demanded a longer bear market. BTC/USDT one-week chart. Source: Roman/X On the latter point, trader Jelle agreed, pointing to the 0.618 Fibonacci retracement level as a key price point. “Every bear market has been shallower than the one before it – but all of them have happened…
Filed under: News - @ March 18, 2026 11:23 am