Bitcoin Magazine Bitcoin Bears Dominate: Failure to Break $71,800 Keeps Downside Risk Alive Key levels in focus: $65,650 support holds for now, but break belowBitcoin Magazine Bitcoin Bears Dominate: Failure to Break $71,800 Keeps Downside Risk Alive Key levels in focus: $65,650 support holds for now, but break below

Bitcoin Bears Dominate: Failure to Break $71,800 Keeps Downside Risk Alive

2026/02/17 02:21
4 min read

Bitcoin Magazine

Bitcoin Bears Dominate: Failure to Break $71,800 Keeps Downside Risk Alive

Bitcoin Price Weekly Outlook

The past week’s price action has been rather lackluster for Bitcoin. After seeing a big bounce from $60,000, the price failed to get above short-term resistance at $71,800 last week. Instead, the price tested the short-term support at $65,650 before bouncing back up to close the week out at $68,811. While the weekly chart is showing some buying strength below $66,000, the lack of follow-through for buyers on the bounces so far is a sign of weakness. Look for the price to drift towards the $60,000 lows this week if the bulls can’t keep it above $71,000 on a daily close to challenge higher levels.

Bitcoin Bears Dominate: Failure to Break $71,800 Keeps Downside Risk Alive

Key Support and Resistance Levels Now

Last week, $65,650 proved to be valid short-term support as the price dipped just below it before rallying quickly back above it. If a day closes below $65,650, look for $63,000 to act as support. Below $63,000, we have the 0.618 Fibonacci retracement at $57,800. This is a key level to hold as there isn’t much support below until $44,000.

If the bulls can muster up some strength, resistance still sits overhead at $71,800. Closing above this level leads to $74,500, with $79,000 resistance above here. If the bulls can somehow manage to get above $79,000 (unlikely), $84,000 remains as a very strong barrier up above.

Bitcoin Bears Dominate: Failure to Break $71,800 Keeps Downside Risk Alive

Outlook For This Week

The outlook for this week is a tough one to call. U.S. markets are closed on Monday, so don’t expect too much movement until Tuesday morning. We really could go either way from this $68,800 close. I would look for the $67,000 level to be tested early this week, and if we see support near there, we may be able to push past $71,000 later into the week. If $67,000 is lost, though, look for the low $60,000 to be challenged once again.

Market mood: Very bearish – The price could not manage to gain any upward momentum last week at all. The bears are in full control.

The next few weeks
As I mentioned last week, the price may range in the area from $60,000 to $80,000 for a while, with maybe a wick down to the 0.618 Fibonacci retracement at $57,800. At the moment, this ceiling can be lowered to $74.5k. There is no telling exactly when the impending “Crypto Bill” will be passed by Congress, or exactly what it will entail for the crypto space as a whole. It is not guaranteed to result in higher prices for bitcoin when it eventually passes, either, so for now, we must rely on the technicals to guide us. For the time being, the bias is still bearish, and if we lose $57,800, the bitcoin price will likely take the next leg down.

Bitcoin Bears Dominate: Failure to Break $71,800 Keeps Downside Risk Alive

Terminology Guide:

Bulls/Bullish: Buyers or investors expecting the price to go higher.

Bears/Bearish: Sellers or investors expecting the price to go lower.

Support or support level: A level at which the price should hold for the asset, at least initially. The more touches on support, the weaker it gets and the more likely it is to fail to hold the price.

Resistance or resistance level: Opposite of support.  The level that is likely to reject the price, at least initially. The more touches at resistance, the weaker it gets and the more likely it is to fail to hold back the price.

Fibonacci Retracements and Extensions: Ratios based on what is known as the golden ratio, a universal ratio pertaining to growth and decay cycles in nature. The golden ratio is based on the constants Phi (1.618) and phi (0.618).

This post Bitcoin Bears Dominate: Failure to Break $71,800 Keeps Downside Risk Alive first appeared on Bitcoin Magazine and is written by Ethan Greene - Feral Analysis and Juan Galt.

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Is Doge Losing Steam As Traders Choose Pepeto For The Best Crypto Investment?

Is Doge Losing Steam As Traders Choose Pepeto For The Best Crypto Investment?

The post Is Doge Losing Steam As Traders Choose Pepeto For The Best Crypto Investment? appeared on BitcoinEthereumNews.com. Crypto News 17 September 2025 | 17:39 Is dogecoin really fading? As traders hunt the best crypto to buy now and weigh 2025 picks, Dogecoin (DOGE) still owns the meme coin spotlight, yet upside looks capped, today’s Dogecoin price prediction says as much. Attention is shifting to projects that blend culture with real on-chain tools. Buyers searching “best crypto to buy now” want shipped products, audits, and transparent tokenomics. That frames the true matchup: dogecoin vs. Pepeto. Enter Pepeto (PEPETO), an Ethereum-based memecoin with working rails: PepetoSwap, a zero-fee DEX, plus Pepeto Bridge for smooth cross-chain moves. By fusing story with tools people can use now, and speaking directly to crypto presale 2025 demand, Pepeto puts utility, clarity, and distribution in front. In a market where legacy meme coin leaders risk drifting on sentiment, Pepeto’s execution gives it a real seat in the “best crypto to buy now” debate. First, a quick look at why dogecoin may be losing altitude. Dogecoin Price Prediction: Is Doge Really Fading? Remember when dogecoin made crypto feel simple? In 2013, DOGE turned a meme into money and a loose forum into a movement. A decade on, the nonstop momentum has cooled; the backdrop is different, and the market is far more selective. With DOGE circling ~$0.268, the tape reads bearish-to-neutral for the next few weeks: hold the $0.26 shelf on daily closes and expect choppy range-trading toward $0.29–$0.30 where rallies keep stalling; lose $0.26 decisively and momentum often bleeds into $0.245 with risk of a deeper probe toward $0.22–$0.21; reclaim $0.30 on a clean daily close and the downside bias is likely neutralized, opening room for a squeeze into the low-$0.30s. Source: CoinMarketcap / TradingView Beyond the dogecoin price prediction, DOGE still centers on payments and lacks native smart contracts; ZK-proof verification is proposed,…
Share
BitcoinEthereumNews2025/09/18 00:14
Unlocking Institutional OTC Trading For Tokenized Gold

Unlocking Institutional OTC Trading For Tokenized Gold

The post Unlocking Institutional OTC Trading For Tokenized Gold appeared on BitcoinEthereumNews.com. Wintermute’s Strategic Masterstroke: Unlocking Institutional
Share
BitcoinEthereumNews2026/02/17 04:50
Hidden Gem Presales for 2026: IPO Genie Unlocks 1000x Private Market Gains

Hidden Gem Presales for 2026: IPO Genie Unlocks 1000x Private Market Gains

16th February 2026: Gone are the Wild West days when tokens launched on hype alone. Today, investors want projects that […] The post Hidden Gem Presales for 2026
Share
Coindoo2026/02/17 05:01