Bitcoin Faces $70,000 Resistance, Poised for Fifth Consecutive Monthly Decline Since 2018

Bitcoin met resistance at the $70,000 psychological level and was trading around $67,000 on February 27, BlockBeats reports. BTC faces triple weekly-level resistance, including the 200-week EMA (approximately $68,330), the 2021 high of $69,000, and the $70,000 barrier. Since February, BTC has declined approximately 14% on a month-to-date basis, potentially marking its fifth consecutive monthly decline, the first such streak since the late 2018 bear market. Analysts suggest a sustained rise above the 200-week EMA could allow bulls to test the $80,000 level, while a breakout above $74,500—the 18–24 month holding cost range—could signal the bear market's end; historical data show that after five consecutive monthly declines from 2018 to 2019, BTC posted five consecutive monthly gains exceeding 300%, and if this cycle repeats, a potential reversal window may point to April.