BTC Holding: Compression Before Expansion?

Bitcoin is once again hovering just under the $70K mark. Not breaking down. Not breaking out. Just… compressing. Despite the recent pressure, the broader structure remains intact. The $60K level continues to act as key support, and so far, it’s doing its job. Price action suggests stabilization rather than capitulation — an important distinction in a market that tends to punish emotional reactions. The Technical Picture On the daily timeframe, BTC is still trading below the 12 and 20 EMAs, both sloping downward. That keeps short-term momentum tilted bearish. However, MACD remains in negative territory with fading downside momentum — suggesting that while sellers are present, they are not accelerating. This setup looks less like panic distribution and more like a compression phase. The range between $60K and $70K has become the battlefield. As long as $60K holds, the path of least resistance may be continued consolidation rather than immediate breakdown. A decisive loss of $60K would li