Not optimisticBitcoin / U.S. dollarBITSTAMP:BTCUSDslickslotIf this $70k level starts holding and we see some volume coming in on bounces, it could flip from old resistance into solid support. That would keep the channel intact and give bulls breathing room to push back toward the upper line (~$90k–$100k). But if it fails here with real selling pressure, we lose the channel structure and the next downside opens up toward $~55k-60k (lower channel + prior consolidation). If price breaks decisively lower, the next major downside target opens up in the $36k–$40k region. Should that fail to contain the move (i.e., a clean break below ~$36k), the structure would become extremely bearish and could target the $20k area, retesting the 2022 cycle low and major psychological/structural support.