I just noticed that Bitcoin fell short in its attempt to break $74,000. The largest currency rebounded strongly from $64,000 recently, gaining almost 15% in five days, but it seems that buyers ran out of steam right where the charts predicted. That’s the interesting part: the rejection coincided perfectly with two key technical barriers. First, the 61.8% Fibonacci retracement, that level that many traders watch because historically it marks where rebounds end in bear markets. Second, the 50-day moving average. Having both confluencing at $74,000 is quite technically congested, so it’s no surprise that sellers took advantage of that point. What many analysts are pointing out is that this upward move was more of a short squeeze than a genuine bullish conviction. The bears closed positions hastily, which pushed prices up, but it wasn’t sustainable. Now Bitcoin is around $81,210, and the $70,000 level that was resistance a month ago has become a critical support. If it breaks, the next downside level would be near $64,000. Major cryptocurrencies remain positive for the week: BTC rose 2.88%, BNB advanced 5.30%, and SOL accumulated a solid 13.22%. But ETH and DOGE are in the red, down 0.27% and 0.70% respectively. The macro landscape complicates things. The dollar is strong, crude oil at weekly highs, and Asian indices had their worst week since 2020. These are not conditions that typically sustain a crypto rally. On Friday, there was some relief when the dollar weakened and crude oil dropped, but the war remains ongoing and energy costs are uncertain variables. So while technicians talk about Fibonacci sequences and predictable retracements, the macroeconomic reality is what can break any bullish narrative. For now, holding at $70,000 would be the first sign that the rebound is real.