Bitcoin refuses to lose $70,000 this weekend. Was my $49k bottom call wrong?

Bitcoin is demonstrating resilience this weekend, refusing to drop significantly below $65,000 even while struggling to break past the overhead resistance around $70,300 following a soft CPI rally. The author notes that the market's behavior—where pullbacks are quickly bought up—differs from how weak bounces typically unwind, suggesting a potential base is forming under resistance rather than a quick reversal. The key checkpoint remains $71,500; acceptance above this level would signal a recovery, while continued stalling near $70,300 with support at $65,000 suggests a sideways consolidation phase. This sideways action is crucial for rebuilding structure and shaking out leverage, though the author maintains a larger bearish target of $49,000 for later in the year if macro conditions worsen. Near-term bullishness hinges on holding $65,000 while repeatedly testing $70,300.

(Source：CryptoSlate)