A Wyckoff analysis says Bitcoin might sink to $70,000 soon. HTL-NL, a Dutch crypto guru, is waving the red flag. He’s using the Wyckoff Method, a way to spot market shifts through supply and demand. The signs aren’t looking great for Bitcoin fans.
Bitcoin kicked things off at $67,000 late 2024, riding the U.S. election wave. By December, it hit $108,000—a 61% climb. But a buying climax knocked it down. It bounced to $109,000 in January 2025 with an upthrust, a fake-out past resistance. Now it’s sitting at $80,000. Those “last supply points” showed up January 30, February 21, and March 2. Toss in a major weakness signal, and it’s officially bearish Phase D time.
Lines and Signals Say Yup!
Since that $109,000 top, a descending trendline has been bossing btc price predicitons around. Lower highs all the way. It’s been nudging up lately in a rising wedge, flirting with that trendline. The Stochastic RSI’s not happy—K line’s below D line, meaning momentum’s weak.
If it doesn’t bust through, $70,000’s calling—a low BitMEX’s Arthur Hayes already pegged. Rough days ahead, maybe.
Experts Aren’t Surprised
Peter Brandt, a trading old-timer, says $70,000 feels right. He’s been eyeing a double top pattern this month and shrugs at the drop. Benjamin Cowen from Into The Cryptoverse flags a death cross on the horizon—50-day average dipping below 200-day.
That’s usually a bummer for Bitcoin. It’s trading at $86,000 now, down 1.42% today, up 2% this week. But the vibes? Not so hot.
