Bitcoin: range floor gives way, 70,000 demand back in focusBitcoin (BTC) / US DollarEASYMARKETS:BTCUSDeasyMarketsBitcoin spent most of last week holding a floor between 74,900 and 76,400. That floor has now given way. Price slid to 72,734 today and is sitting on the August shelf at 72,700 to 73,100, the level where the big August breakout paused on its way up. Why short? The daily trend has been down since the September high near 87,400, with a clean run of lower highs: 84,900 in October, 82,000 at the end of October and 81,200 on 4 November. The most recent bounce was sold hard from major supply at 80,800 to 81,300, and the loss of the range floor confirms sellers are still in charge. Broken support often turns into resistance, so a retest of 74,900 to 76,400 from below is the area I am watching for a short. The trade plan (4H) Direction: Short Entry: 75,000, a retest of the broken range floor Stop loss: 76,700, above the range floor and last week's 4H highs Take profit: 70,000, the top of demand (68,900 to 70,000), where the August rally began Risk to reward: roughly 1:3 Why 70,000? On 18 and 19 August Bitcoin moved from about 64,000 to 73,000 in two sessions. Moves that fast leave thin price history behind them, and the 68,900 to 70,000 area at the base of that move is the first meaningful demand below current price. What would change my mind A 4H close back above 76,400 would mean the breakdown has failed and the range is back in play. A move above 81,300 would break the lower-high structure altogether. A note on risk Bitcoin trades around the clock and moves of several thousand dollars in a day are common, especially around weekends when liquidity is thinner. Wider stops call for smaller position sizes. Before placing any trade I like a second opinion. I run the setup through Dealsize.ai to cross-check the technical structure with its AI analysis and to look back at how similar trades have played out in my own trading journal. Retest and continuation to 70,000, or does the August shelf hold? Share your view in the comments. This content is for informational and educational purposes only and does not constitute investment advice. It does not consider the financial situation, needs, or objectives of any specific individual. Any reference to past performance is not a reliable indicator of future results. Risk Warning: 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Please refer to our full risk disclaimer on our website.