Bitcoin Stalls Below $70,500 As Bulls Confront Resistance And Downside Risk

Bitcoin's rebound above $68,500 has stalled below the $70,500 resistance area, with price currently holding over $68,650 and the 100-hour simple moving average. A declining channel or potential bullish flag is forming near $68,400 support, and a failure to clear $70,500 could trigger renewed downside toward $68,000 or lower. Technical signals show the MACD in bearish territory and the RSI under 50, suggesting buyers face increasing pressure at higher levels.