Bitcoin is stalling near $70,000, and the bulls aren’t exactly inspiring confidence. On March 10, 2026, BTC sat at $70,828.84 around 11 a.m. ET. Up from the prior day, sure. But still sitting on a $7,700 yearly loss. Not great.
The recent bounce looked promising at first. Bitcoin climbed 4% from the $60,000–$62,500 lows, touching an intraday high of $71,890 on March 4. Then it stalled. The $74,450 resistance level — which has been the upper boundary since April 2025 — rejected price again. Classic. That level used to be support. Now it’s a ceiling, and Bitcoin keeps bumping its head on it.
The three-day chart tells a pretty ugly story. Bitcoin is trading inside a bear flag, following a brutal 39% flagpole decline. There’s also hidden bearish divergence on the RSI — price made a lower high while RSI made a higher high. That’s not the kind of divergence that gets bulls excited. The overlapping, choppy price action screams counter-trend bounce, not a real recovery.
The three-day chart doesn’t lie — bear flag, 39% flagpole, hidden bearish divergence. This isn’t recovery. It’s a dead cat bounce.
Support isn’t exactly rock solid either. The immediate zone sits between $69,378 and $71,840. Below that, $62,300 becomes critical. A breakdown there opens the door to $56,800, then $52,300, $47,800, and potentially $41,400. The $50,000 level alone represents roughly 30% downside from current prices.
And Bitcoin already tested the $60,000–$62,500 zone twice in late February 2026. Twice.
The bounce was partly mechanical. Negative funding rates and liquidated shorts helped fuel the move. Selling pressure may be exhausting, but it hasn’t gone away. Institutions aren’t rushing in after a 20% monthly drop, and BTC dominance has slipped below 57%, suggesting money is quietly rotating into altcoins — though that momentum appears to be cooling too. Bitcoin’s limited supply of 21 million coins remains a fundamental argument for long-term value, yet it has done little to arrest the current downtrend.
Adding to the caution, long-term holder net selling, while dramatically reduced from −243,737 BTC to −31,967 BTC, hasn’t fully dried up, meaning residual distribution pressure could continue to cap any meaningful recovery attempt. Meanwhile, Bitcoin continues to lag behind gold, which has been reaching all-time highs, further undermining the narrative that BTC serves as a comparable store of value.
For the bear flag to get invalidated, Bitcoin needs to clear $79,000. That’s a long way from $70K. Until then, the path of least resistance is still pointing down, and the weekend doesn’t exactly favor dramatic reversals.
