Bitcoin’s price dip challenges the bulls, hinting at a possible bounce ahead.

crypthub

3/11/2026, 2:40:47 AM

Current Price Action

Bitcoin has rebounded above the $68,500 zone and is now consolidating near the 100‑hour simple moving average. The pair broke a bullish trend line that offered support at $70,400 on the hourly chart. A further dip is likely if price falls below the $69,280 and $68,000 thresholds.

Potential Upside

The bulls have pushed BTC past $69,200 and $70,000, reaching the 61.8% Fibonacci retracement of the recent downmove. Immediate resistance sits around $70,250, with a stronger barrier at $70,500 that could open the path to $71,500 and $72,000 if breached. A close above $70,500 may even test the $72,650 level, aligning with the 76.4% Fibonacci zone.

Potential Downside & Technical Signals

If Bitcoin cannot sustain above the $70,500 zone, price could retreat to key supports at $69,280, $68,500 and $68,000, with deeper dips toward $67,250 and $66,500. The hourly MACD is accelerating in bearish territory, while the RSI hovers near the neutral 50 mark. These indicators suggest caution as the market weighs upward momentum against lingering bearish pressure.