#BitcoinDropMarketImpact

BTC Update

Bitcoin remains positioned inside a broad ascending channel while consolidating within a falling wedge pattern. Price is currently testing the wedge’s lower support near $70K, with weekly indicators approaching oversold levels — a zone that has historically triggered strong directional moves.

As long as $70K holds, the overall structure stays bullish, with potential upside toward $81K at wedge resistance. A confirmed break and acceptance above this level would strengthen the breakout case and open the door for a larger macro move targeting $137K.

However, rejection at resistance or loss of momentum could push BTC back toward $63K, which aligns with key support within the broader channel. A decisive breakdown below $70K would increase the likelihood of a quicker drop into the $60K region, where major channel support sits.

In short, $70K remains the critical pivot, defining both upside opportunity and downside risk in the current market structure.