 ▲ Bitcoin (BTC), Bear Market / AI-Generated Image |
Analysis suggests that Bitcoin (BTC) must defend a weekly closing price of $68,300 to prevent further declines.
According to cryptocurrency media outlet Cointelegraph on February 13 (local time), crypto analyst Rekt Capital warned that if Bitcoin fails to close above $68,300 this week, the bearish momentum could accelerate uncontrollably. After being rejected at a major resistance level, Bitcoin is now at a critical inflection point where it is testing support.
Rekt Capital diagnosed $68,300 on the weekly chart as the last line of defense against an acceleration of the downtrend. If Bitcoin forms a weekly close below this level, expectations for a short-term rebound will fade, and the market faces a high risk of entering a full-scale downturn. Strong selling pressure observed at recent highs indicates that buying strength has weakened compared to before, potentially serving as a catalyst for further declines.
Market experts note that although Bitcoin is struggling to hold the psychological support level of $65,000, this support is likely to collapse as well unless $68,300 is reclaimed first. Major technical indicators, including the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD), are simultaneously signaling downward pressure, heightening anxiety among buyers. Rekt Capital emphasized that this week’s closing result will be a watershed moment determining the market’s direction for the next month.
Retail investors appear hesitant to buy aggressively at current price levels, shifting to a wait-and-see approach. As the volume of Bitcoin flowing into exchanges increases while buying demand disappears, the supply-demand imbalance is deepening. Fear is spreading across the market that a failure to defend $68,300 could trigger a sharp سقوط toward the low $60,000 range. Investors must closely monitor price movements over the weekend and focus on protecting their assets.
Bitcoin is currently engaged in a desperate battle to break its downtrend. Market volatility is expected to intensify until the weekly close is determined, and depending on whether support holds, the market’s overall structure could change completely.
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