Analysts Warn Bitcoin Could Enter Freefall If $70,000 Support Level Breaks
By
Christian Encila
Crisp on the outside, thoughtful on the inside. A keeper.
Summary
Bitcoin has repeatedly found support at the $70,000 level in 2026, bouncing back multiple times. However, analysts warn that the next test of this critical support could fail. The key trendline, which has held since mid-2017 and survived major crashes like the FTX collapse in 2022, is the lower boundary of a rising wedge pattern. If this level cracks, analysts predict Bitcoin could enter a freefall, potentially dropping to $30,000 or lower.
Key quotes
· 3 pulledBitcoin 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.
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.
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