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Bitcoin price struggles at range-high resistance as rejection grows

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Bitcoin price struggles at range-high resistance as rejection risk grows - 1

Bitcoin price is once again testing the upper boundary of its trading range near $72,000, where selling pressure has historically emerged.

Summary

  • Range Resistance: Bitcoin is struggling to break above the $72,000 range high.
  • Rejection Signal: A developing daily wick suggests weakening bullish momentum.
  • Downside Risk: A confirmed rejection could rotate price toward $50,000 support.

Bitcoin’s (BTC) price action is currently positioned at a technically significant inflection point as the asset trades near the upper boundary of its established trading range. The $72,000 region has repeatedly acted as strong resistance on the daily timeframe, preventing sustained bullish continuation.

While Bitcoin has attempted to challenge this level again, the latest candles suggest early signs of rejection, indicating that the market may remain locked within its broader consolidation structure.

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Bitcoin price key technical points

  • Range-High Resistance: $72,000 continues to cap upward momentum on the daily timeframe.
  • Rejection Signal: A developing rejection wick suggests weakening bullish momentum.
  • Downside Risk: A close below the value area high could trigger a rotation toward lower range support.
Bitcoin price struggles at range-high resistance as rejection risk grows - 1
BTCUSDT (1D) Chart, Source: TradingView

Bitcoin’s current price action is centered around the $72,000 range-high resistance, a level that has repeatedly defined the upper boundary of the current market structure. On the daily timeframe, this region represents a major liquidity zone where sellers have consistently stepped in to defend price.

Recent price movement shows Bitcoin attempting to challenge this resistance once again, but the appearance of a rejection wick on the daily candle indicates that buyers may be struggling to maintain control. Rejection wicks often appear when price briefly pushes into a resistance zone but fails to sustain momentum, forcing the market back lower as selling pressure increases.

From a technical perspective, this behavior highlights the importance of the value area high as a confirmation level for market direction. The value area high often acts as a pivot point between bullish continuation and bearish rotation. If Bitcoin closes below this level, it would confirm that the latest attempt to break higher has failed, reinforcing the broader range structure.

Range-bound environments are characterized by price oscillating between key support and resistance levels as liquidity is redistributed across the market. In Bitcoin’s case, the broader range structure remains intact between approximately $50,000 on the downside and $72,000 on the upside.

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As long as the range-high resistance continues to hold, the probability favors further rotational price action rather than a sustained breakout. This means the market may gradually move back toward lower support levels in search of liquidity.

If bearish confirmation occurs through a close below the value area high, the next logical downside target becomes the swing low within the range. This would place the broader range support near the $50,000 region back into focus.

The $50,000 level represents a historically significant support zone where strong demand previously emerged. It also marks the lower boundary of the current trading range, making it a key area where buyers may attempt to defend price once again.

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Market structure analysis further supports this scenario. When an asset repeatedly fails to break above resistance, it often signals that the market requires additional liquidity before attempting another breakout. This liquidity is typically found at lower levels where stop orders and resting bids accumulate.

Because of this dynamic, rotational movements between range highs and range lows are common in consolidation phases. These cycles allow the market to rebalance supply and demand before a more decisive directional trend eventually forms.

What to expect in the coming price action

As long as Bitcoin remains below the $72,000 range-high resistance, the broader range structure is likely to remain intact. A confirmed rejection below the value area high would increase the probability of a rotational move toward the $50,000 range support, while a decisive breakout above resistance would be required to invalidate the bearish outlook.

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Crypto World

Circle Stock Surges as Stablecoins Expand; Canaan Boosts Bitcoin Holdings

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Circle Stock Surges as Stablecoins Expand; Canaan Boosts Bitcoin Holdings

A selloff in both Wall Street and crypto markets hasn’t slowed Circle’s relentless rise. The stablecoin issuer’s stock has more than doubled since early February, with Bernstein analysts expecting further gains as stablecoins continue expanding beyond crypto’s more speculative use cases.

The technology is already moving deeper into traditional finance. UK insurance giant Aon recently piloted stablecoin payments for insurance premiums with Coinbase and Paxos, a move that could make cross-border premium payments faster and more efficient.

Elsewhere, Bitcoin (BTC) miner Canaan is taking a contrarian approach to treasury management, increasing its BTC holdings even as many competitors sell. And in traditional finance, Wells Fargo has filed a trademark for crypto-related services, suggesting large banks are still quietly preparing for deeper involvement in digital assets.

Circle stock surges on stablecoin tailwinds

Shares of stablecoin issuer Circle are rallying sharply in 2026 as Wall Street warms to the long-term growth story behind digital dollars. Analysts at Bernstein recently reiterated an “Outperform” rating on the stock, setting a $190 price target — roughly 60% above current levels.

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Circle’s stock price has already more than doubled since early February and is up roughly 49% year-to-date, outperforming both the S&P 500 index and Nasdaq 100 index during the same period.

Bernstein’s bullish outlook hinges on accelerating stablecoin adoption across payments, financial infrastructure and onchain settlement. As the issuer of USDC (USDC), the world’s second-largest US dollar-pegged stablecoin, Circle is increasingly viewed as a key beneficiary of the industry’s push into mainstream finance.

USDC’s circulation reaches nearly $79 billion. Source: DeFiLlama

Canaan boosts Bitcoin reserves while other miners sell

Bitcoin miner Canaan is expanding its BTC treasury amid a market downturn, while many rival public mining companies are reducing their holdings.

The company mined 86 BTC in February, increasing its total Bitcoin holdings to 1,793 BTC. Canaan also reported holding 3,952 Ether (ETH), bringing its total crypto reserves to record levels.

The accumulation trend stands in contrast to much of the mining sector. Several publicly traded miners have sold significant portions of their Bitcoin reserves over the past several months as tighter margins and post-halving economics put pressure on balance sheets.

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Canaan, meanwhile, continues to expand its mining footprint, including operations in Texas — one of the largest mining hubs in the United States.

Canaan’s Bitcoin holdings keep rising. Source: BitcoinTreasuries.NET

Aon pilots stablecoin payments for insurance premiums

Global insurance broker Aon is exploring the use of stablecoins to settle insurance premiums, working with crypto companies Paxos and Coinbase on the initiative.

The goal is to streamline cross-border payments, which often involve multiple banks, currency conversions and settlement delays. Stablecoins could allow insurers and clients to move funds more quickly while reducing costs and processing time.

For the insurance industry, faster settlement could simplify premium collection, improve cash flow management and reduce the administrative work tied to international payments. It may also make it easier to handle large cross-border policies and reinsurance transactions.

The pilot reflects a broader trend of stablecoins use expanding beyond crypto trading into real-world financial use cases, particularly in areas where global payments remain slow and expensive.

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Wells Fargo files trademark for crypto services 

US banking giant Wells Fargo has filed a US trademark application for “WFUSD,” signaling potential plans to expand deeper into crypto services.

The filing covers a range of blockchain-related offerings, including crypto trading, payments, digital wallet services and software for staking and custody. It also references financial services built on distributed ledger technology.

The trademark is significant because Wells Fargo is the fourth-largest US bank, with about $1.95 trillion in assets as of Q3 2025, according to S&P Global Market Intelligence.

Trademark filings don’t necessarily guarantee a product launch, but they often indicate areas companies are exploring. In this case, the scope suggests Wells Fargo may be evaluating crypto-based payments or a tokenized dollar product under the WFUSD name.

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Wells Fargo trademark application. Source: USPTO

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