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      BTC Stabilizes Around $70K After Wild Swings

      Gerik

      Commodity

      Economic

      Summary:

      Bitcoin is trading near $70,000–$71,000 following a sharp plunge to lows near $60,000 earlier in the week and a strong rebound above $70K, showing renewed demand after long liquidations...

      Buy

      BTC-USDT

      EXP
      PENDING

      70500.0

      Entry Price

      74500.0

      TP

      69000.0

      SL

      69263.3 -1070.7 -1.52%

      --

      Point

      PENDING

      69000.0

      SL

      CLOSING

      70500.0

      Entry Price

      74500.0

      TP

      Market Overview

      Bitcoin has experienced extreme volatility in recent sessions, dropping to a 15-month low near $60,000 then rallying back as risk appetite briefly returned, stabilizing around the $70,000 level. The rebound followed significant long liquidations that eased downward pressure and triggered technical buying. As of the latest updates, BTC price has held above this support zone with renewed buying interest visible, indicating a possible corrective bounce after intense selling pressure. 

      Market Sentiment

      Market sentiment remains mixed but with signs of short-term bullish relief as Bitcoin recovers from deeper losses. Deep fear and heavy sell-offs earlier in the week have pushed sentiment toward contrarian buying setups, with some technical charts suggesting resistance-turned-support around the $70,000–$71,000 area. Momentum remains fragile, but buyers defending key levels can fuel a corrective upward move while broader sentiment remains cautious. 

      Technical Analysis

      BTC Stabilizes Around $70K After Wild Swings_1
      On the M15 timeframe, recent price behavior shows consolidation around $70,800–$71,200, which may act as a short-term support cluster. Resistance remains in the upper $70Ks region, and a break above this with sustained buying pressure could extend toward higher intraday targets. Oscillators like RSI have moved out of oversold zones, hinting at short-term upside potential if support persists. Technical studies on lower timeframes suggest buyers are attempting to reclaim momentum, making this area an attractive tactical buy zone for a rebound attempt.

      Trade Recommendation

      Entry: 70500
      Take Profit: 74500
      Stop Loss: 69000
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