Bitcoin closes for the fifth consecutive month with a decline, with the $70,000 level becoming a key resistance#Gate广场发帖领五万美金红包

On February 27, Bitcoin's price was blocked at the $70,000 round number, currently fluctuating around $67,000. Technical analysis shows that BTC is facing triple weekly resistance levels: the 200-week EMA (around $68,330), the 2021 all-time high of $69,000, and the $70,000 psychological barrier, limiting short-term rebound potential.

Since February, BTC has declined by approximately 14%, or recorded its fifth consecutive month of decline, marking the first such continuous decline pattern since the end of the 2018 bear market. Analysts believe that if the weekly chart can effectively break above the 200-week EMA, the bulls may regain momentum and test the $80,000 region.

Another view suggests that a breakout above $74,500 (the 18–24 month holding cost zone) could be seen as an important signal of the end of the bear market. Historical data shows that after five consecutive months of decline in 2018–2019, BTC then experienced five consecutive bullish months with gains exceeding 300%. If this cycle repeats, the potential reversal window may point to April.