Bitcoin is showing signs of weakening momentum as it struggles to regain higher ground, placing the market at a critical turning point. The $66,000 level has now emerged as a key support zone that could determine the next major move. Holding above it may give bulls a chance to spark a recovery, while a decisive break below could open the door for a deeper decline.

Bitcoin Struggles Below Blue Box Resistance As Buyers Stay Quiet

Bitcoin continues to trade below the blue box resistance, signaling that the market has yet to regain strong bullish momentum. According to crypto analyst Kamile Uray, buyers failed to step in at the $69,407 level that had been closely monitored on the 4-hour timeframe. Although selling pressure pushed the price lower, the pace of the decline has started to slow in the current region.

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Uray explained that as long as Bitcoin remains above the $66,187 level, the possibility of another attempt toward the blue box resistance remains on the table. A decisive breakout above the $69,407 resistance, especially with strong high-volume candles, could open the door for a much larger upward move. 

Based on the principle of equal waves, such a breakout scenario could propel Bitcoin toward the $100,000 mark. A daily close above $98,200 would also establish a new high peak in the context of the latest wave structure on the daily chart, increasing the chances of a sustained uptrend.

However, caution may be required if the price approaches the $107,000–$109,000 region, as a bearish Libra formation could develop within that zone. Failure to close above the previous peak could activate the pattern and trigger a renewed downward move.

Meanwhile, the $66,187 level remains a key support to watch on the 4-hour chart. Holding above it would keep bullish expectations intact, while a close below it may lead to a retest of $62,433. If the decline deepens further and resistance levels continue to cap upward attempts, the next major support targets are $62,433, $55,230, and $47,256.

BTC Loses $70,000 Support As Bearish Momentum Builds

Crypto analyst Crypto Candy noted that Bitcoin was unable to maintain its position above the $70,000 level and eventually closed below it. Holding above that zone was previously highlighted as crucial for sustaining bullish momentum. Failure to defend the $70,000 mark suggests that sellers have regained control of the market.

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The analyst further explained that bearish pressure may continue unless Bitcoin manages to reclaim and break above the $74,000 level. As long as the price remains below that threshold, momentum favors the downside, with a potential move toward the $61,000 region or even lower levels.

Featured image from Getty Images, chart from Tradingview.com

Ethereum is attempting to stabilize around the $2,000 level as the broader crypto market shows tentative signs of relief. After weeks of persistent pressure, price action has paused its decline, but sentiment remains fragile. The recent rebound has helped ease immediate downside momentum, yet the technical structure still reflects a market recovering from significant damage rather than entering a confirmed uptrend.

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According to a CryptoQuant analyst, Ethereum endured a severe liquidation-driven sell-off in recent weeks, falling sharply from local highs near $3,300 to lows around the $1,850 region. The intensity of this move becomes particularly evident when analyzing the Net Taker Volume (30-day moving average), a metric that measures aggressive market order activity. In February, this indicator plunged to its most negative level since last November, highlighting the dominance of aggressive sellers during the decline.

Such extreme negative readings typically reflect panic-driven execution rather than orderly repositioning. When taker volume skews heavily to the sell side, it often signals forced exits, stop-outs, and cascading liquidations across derivatives markets. While Ethereum’s attempt to hold $2,000 suggests that immediate selling pressure may be easing, the underlying data confirms that the market recently absorbed one of its most intense bouts of downside aggression in months.

Net Taker Volume Signals Capitulation — But Not Confirmation

The dominance of towering red bars in Ethereum’s Net Taker Volume underscores how aggressively sellers controlled the order books during the recent decline. When taker sell orders consistently exceed taker buy orders by such a magnitude, it reflects urgency. This is not passive distribution; it is market participants hitting bids aggressively, often under stress. The combination of panic-driven exits, systematic short positioning, and forced long liquidations likely amplified the move from $3,300 to sub-$1,900 levels.

Notably, the only meaningful cluster of green bars — representing aggressive buying — emerged in mid-January, coinciding with Ethereum’s local peak near $3,400. That brief resurgence in demand failed to sustain itself, after which sell-side momentum reasserted control. Structurally, this pattern suggests that upside liquidity was exhausted before a broader deleveraging cycle unfolded.

Extreme negative Net Taker Volume readings are often associated with capitulation phases. Historically, such flushes can mark exhaustion points, as aggressive sellers eventually deplete themselves. However, capitulation alone does not confirm reversal. For a structural shift to materialize, the imbalance must normalize. A contraction in red bars followed by sustained green dominance would signal renewed conviction from aggressive buyers.

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