Bitcoin has just touched the $70,000 mark, briefly moving past the previous high from July 29 at $70,050. While this is a notable milestone and signals bullish potential, it doesn't mean that $100,000 is guaranteed just yet. To confirm a sustained breakout, we need to see if Bitcoin can hold this level, especially as the week unfolds.
Today is only Monday, and if Bitcoin maintains a price above $70,000 by week's end, it would signal a higher high—the first in three months—and a possible breakthrough of resistance. However, if Bitcoin slips back below $70,000 after a brief rise, it may indicate a failed breakout or "bull trap," adding weight to the bearish perspective.
Currently, trading volume remains low, so it’s wise to wait for further confirmation. Both weekly and monthly closes above the $70,000–$71,000 range would provide stronger bullish validation. If Bitcoin doesn’t maintain these levels, this rise could merely be part of an inverted correction within the broader downtrend. Other resistance levels lie around $72,000 (from June 7) and roughly $74,000 (from March 14).
For now, a cautious outlook remains, as confirmation is essential to gauge the next move.
