Bitcoin has bounced back from the $70,000 zone multiple times in 2026, but analysts are warning that the next test of that level could end differently.
A Line That Has Held Since 2017
The lower boundary of a rising wedge pattern — a trendline that first appeared as support in mid-2017 — has absorbed several sharp drops over the years.
Bitcoin touched it during the FTX-driven crash of November 2022, when prices fell to $15,400, and the line held. It held again three times in the opening months of 2026, at $60,000 in February, then at $64,900 and $65,000 in March and April.
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Crypto market commentator MichaelXBT brought renewed attention to the pattern after Bitcoin dropped below $74,000 for the first time in over a month.
Based on his chart analysis, the support trendline now sits around the $70,000 mark, and a confirmed break below it would be historically significant.
Bitcoin 10-Year Wedge
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