Bitcoin price started a fresh decline from the $73,800 zone. BTC is 
consolidating and might struggle to stay above the $70,500 support. Bitcoin 
failed to stay above $72,500 and corrected gains. The price is trading below 
$72,000 and the 100 hourly simple moving average. There is a connecting 
bearish trend line forming with resistance at $71,450 on the hourly chart of 
the BTC/USD pair (data feed from Kraken). The pair might extend losses if it 
stays below the $71,500 and $72,000 levels. Bitcoin Price Dips Again Bitcoin 
price failed to stay above the $72,500 resistance zone. BTC formed a top near 
$73,800 and started a fresh decline. There was a move below the $72,500 level. 
The price dipped below the $71,500 and $71,200 levels. A low was formed at 
$70,517, and the price is now consolidating losses below the 23.6% Fib 
retracement level of the downward move from the $73,800 swing high to the 
$70,517 low. Bitcoin is now trading below $72,000 and the 100 hourly simple 
moving average. If the price remains stable above $70,500, it could attempt a 
fresh increase. Immediate resistance is near the $71,500 level. There is also 
a connecting bearish trend line forming with resistance at $71,450 on the 
hourly chart of the BTC/USD pair. The first key resistance is near the $72,000 
level. A close above the $72,000 resistance might send the price further 
higher. In the stated case, the price could rise and test the $72,500 
resistance. Any more gains might send the price toward the $73,200 level. The 
next barrier for the bulls could be $74,000. Downside Continuation In BTC? If 
Bitcoin fails to rise above the $72,000 resistance zone, it could start 
another decline. Immediate support is near the $70,800 level. The first major 
support is near the $70,500 level. The next support is now near the $70,000 
zone. Any more losses might send the price toward the $69,200 support in the 
near term. The main support now sits at $68,800, below which BTC might 
struggle to recover in the near term. Technical indicators: Hourly MACD – The 
MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength 
Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – 
$70,500, followed by $70,000. Major Resistance Levels – $71,500 and $72,000.

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US President Donald Trump said Iran did not want to compromise its nuclear 
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lending gains, with banking liquidity largely preserved through reserve 
recycling, challenging core policy assumptions behind proposed legislation. 
Key Takeaways: White House analysis finds stablecoin yield ban lifts lending 
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U.S. regulators are accelerating crypto oversight by using interpretive rules, 
signaling a faster policy rollout strategy that prioritizes immediate clarity 
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The oil market was rattled by the Trump Administration’s announcement of an 
upcoming blockade of the Hormuz Strait, with West Texas Intermediate and Brent 
benchmark futures surpassing $100 per oil barrel. The move is expected to 
accelerate the rise of gas prices in the U.S. and internationally. Key 
Takeaways: Trump’s April 13 blockade on Iran […]

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