Bitcoin Holds Key Support as Bulls Watch for Breakout Signal Above the $70K Level

Key Insights:

• Bitcoin holds firm above support with $70K resistance acting as a key breakout trigger for a surge.
• Heavy liquidation clusters at $72K–$75K may attract price if resistance breaks, adding upside pressure.
• On-chain signals show BTC undervalued, with -95 deep value reading hinting at potential for gains.

Bitcoin continues to trade in a tight range, with buyers defending a key support zone. The price is holding above short-term levels but has not yet broken out. Traders are now closely watching the $70,000 level, as a move above it could point to a shift in market direction.

Analysts report that the current structure still resembles a corrective phase, with no strong breakout seen yet. Liquidity levels above the current price suggest that a sharp move could occur if resistance is cleared.

Price Holds Support, Resistance Remains Firm

Bitcoin’s price is currently around $66,880, down 1.55% in the last 24 hours. It remains in a sideways pattern, sitting just above short-term support. Since last week the price structure has not shown an impulsive move, suggesting the market is still consolidating.

According to Morecryptoonl, “The structure since Friday still resembles a corrective B-wave environment.” As long as the support zone holds, a move higher remains possible. There is no strong momentum that has appeared yet, and traders are waiting for confirmation above resistance levels.

Resistance remains firm near the $70,030 mark. A clear break above this area could signal growing momentum. Until that happens, the market continues to trade within a narrow range.

Liquidity Clusters May Pull Price Higher

Some analysts point to liquidity zones as possible drivers of a future breakout. Bitcoinsensus shared that there are heavy liquidation clusters stacked at $72K–$75K, which could act as a magnet if the price moves higher.

This means traders with short positions may get forced to buy back in if the price rises, adding to upward pressure. For now, price is consolidating below this zone, and there has been no confirmed breakout.

If price pushes toward the $72,000 level, it could trigger fast movements. But without a strong move above resistance, the price remains capped below.

Market Sentiment and On-Chain Signals

On-chain data shows that Bitcoin may be in a value zone. Based on cryptoquant.com, their latest indicator showed the value reaching -95 during the last drop. This indicator reflects how far BTC’s price is from is on its long-term trend.

This negative reading may suggest the asset is trading below fair value. However, price has not yet reacted with strong buying interest. Volume in the last 24 hours reached $45.2 billion, showing ongoing interest, but no clear direction. Until bulls reclaim the $70,000 level, the market remains neutral and in a holding pattern.