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Bitcoin continues to weaken on the H4 timeframe, confirming a short-term bearish structure with lower highs and lower lows. Selling pressure is reinforced as price remains below key EMAs and is capped by a descending trendline. Although RSI is nearing oversold levels, the absence of divergence indicates that downside risks remain. In the near term, the 68,900–69,200 USD zone and the 70,000 USD level serve as key resistance areas that will determine whether a recovery can develop or the downtrend continues.
On the H4 timeframe, BTCUSD (Bitcoin) continues to show signs of weakness after breaking below the 70,000 USD level, signaling a shift in the market’s short-term structure as the previous consolidation phase gradually transitions into a downtrend, characterized by lower highs and lower lows.
BTCUSD is forming a bearish structure on the H4 timeframe, with RSI approaching oversold territory; however, the lack of divergence suggests that downside pressure has not yet meaningfully eased.
The descending trendline formed from the recent peak around 76,000 USD is now acting as a dynamic resistance, consistently capping upside attempts. In addition, the fact that price remains below key moving averages further reinforces the view that bearish momentum continues to dominate.
From a momentum perspective, the H4 RSI is approaching oversold territory, reflecting the weakening of buying pressure in the current phase. However, the absence of any clear bullish divergence suggests that downside pressure has not fully exhausted, and any potential rebound is likely to remain corrective rather than indicative of a trend reversal.
In the near term, the 68,900 – 69,200 USD zone serves as the immediate resistance. A sustained move above this area could allow for a recovery toward the 70,000 USD level, where the EMA50 and EMA100 converge. Conversely, continued rejection below this resistance zone may lead Bitcoin to extend its downside toward the next support area around 65,300 – 65,800 USD.
23.3.2026
Bitcoin (BTCUSD)
(Chart powered by TradingView. Charts are for educational and illustrative purposes only and may differ from live trading prices on our platform.)
Disclaimer: The chart reflects the analyst's opinion and does not constitute investment advice. Past performance is no guarantee of future returns. Seek independent advice before making decisions.
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Linh Tran
Market Analyst
Linh Tran is a member of the Market Analysis team at XS.com, holding a Master’s degree and with experience in the financial markets since 2018. She focuses on macroeconomic analysis, central bank policies, and multi-asset markets including forex, commodities, equities, and cryptocurrencies, delivering structured and data-driven market insights.
This written/visual material is comprised of personal opinions and ideas and may not reflect those of the Company. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. XS, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same. Our platform may not offer all the products or services mentioned.
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