BTC Risks Deeper Correction if $69K–$72K Support Breaks

Bitcoin risks another leg lower if $69K–$72K fails, with weak demand and bearish daily and weekly signals still in control.

Bitcoin has entered a critical phase after weeks of steady weakness across higher timeframes, according to Dami-Defi. Signals flagged by the analyst are now playing out, pushing the price into a zone that could decide near-term direction. Momentum remains fragile, with rebound attempts failing to gain traction.

Bitcoin Momentum Stalls as Price Trades Below Key Weekly Levels

Bitcoin price action continues to follow a bearish technical pattern outlined by analyst Dami-Defi. He warned earlier that the “death cross + lost weekly EMA ribbon” would likely pressure the market. Recent trading confirms that view, with bounce attempts fading quickly and sellers maintaining control.

The BTC price has dropped into the $69,000–$72,000 range and is regarded as a key decision point. According to the analyst, movements around this zone will determine if recent losses signal a sharp shakeout or a correction.

So far, buying interest has failed to show strong follow-through, keeping downside risks in focus.

On the daily charts, a confirmed death cross places the 50-day moving average below the 200-day average. However, both indicators remain far above the current price. Such structure often appears during sustained downtrends, where rallies act as selling opportunities instead of trend shifts.

Each short-lived pump has been met with renewed selling pressure, and former support zones continue to face stress tests.

On the other hand, Bitcoin remains below the EMA ribbon and is attempting to reclaim it after being rejected. Until the price closes back above that band, any upside move is viewed as a retest of resistance. Without a weekly reclaim, broader momentum stays tilted to the downside.

BTC Trades Near $69K as Prior Support Turns Into Risk Zone

Notably, Dami-Defi’s recent Bitcoin prediction builds on his earlier forecast. In December, the analyst highlighted $82,000–$98,000 as the most important range for the cycle.

After losing $98,000, selling pressure pushed the BTC price to $82,000. This level aligns with the prior downside targets of many traders. A modest rebound followed, though trading activity was low because of the holidays.

Bitcoin briefly moved up to fill price gaps left from earlier trading, then turned lower again. Dami-Defi noted that without reclaiming lost resistance, the asset is still at risk of further downside.

Further, the analyst noted that holding the $69,000–$72,000 level could allow the price to form a base. Moving above $82,000 would be the first step toward stabilizing structure. Further recovery into the low-to-mid $90,000 range would raise the odds for a broader bottoming phase.

Demi-Defi predicted a clean weekly close under $69,000 would open the door to another leg lower. In that scenario, price discovery could deepen before conditions improve.

Image Source: TradingView

At press time, Bitcoin is exchanging hands at around $68,827, slightly lower over the past day. Red candles dominate both daily and weekly charts as ongoing pressure persists. Until key levels are reclaimed weekly, the analyst’s updated view keeps risk skewed to the downside.

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