Bitcoin: $74,000 Support Faces Test After Crypto Selloff
Bitcoin is testing a support range of $74,000 to $76,000 after a week of heavy crypto losses. An analyst says a daily close below $73,000 to $74,000 could expose lower levels, while Ethereum and XRP also show signs of weakness.
Bitcoin is testing support at $74,000 to $76,000 after a week of heavy losses in the crypto market, with Ethereum and XRP also showing weakness.
The next few days could shape the market’s direction for the following two to three weeks, according to analyst Josh of Crypto World.
Bitcoin’s support levels
Bitcoin is testing the lower end of a $74,000 to $76,000 range that has held for weeks. A daily close below $73,000 to $74,000, followed by a failure to recover that range, could leave the price vulnerable to a move toward $65,000 to $67,000.
That lower zone previously served as both support and resistance. A large cluster of liquidation orders—trades that can be automatically closed when prices reach set levels—sits near $65,000 to $66,000.
There is also a possible short-term counter-signal. Bitcoin may be forming a bullish divergence on the 12-hour chart, where price makes lower lows while momentum makes higher lows.
The setup needs confirmation, and a small further decline could cancel it. Even if it holds, the analysis points to a possible pause in selling lasting a few days, not a full recovery. Short-term upside liquidity sits near $76,000.
On the weekly chart, the Supertrend indicator remains green, and a longer-term bullish divergence has not been cancelled. The analysis says several more months of weakness could change that picture.
Bitcoin dominance and altcoins
Bitcoin’s share of the total crypto market is testing 60.5% to 61%, a ceiling that has held for about a year. A close above roughly 61.5% on the three-day or weekly chart would signal a longer uptrend in Bitcoin dominance.
The analysis warns that such a move could weigh heavily on altcoins, particularly while Bitcoin is still cooling off. The breakout has not happened.
Ethereum and XRP remain weak
Ethereum continues to show a bearish divergence on the daily chart, a pattern that has pointed to weakness for more than a month. It may also be forming a bullish divergence, but the signal needs confirmation.
If Ethereum falls further, momentum indicators could make new lows alongside the price, cancelling that potential setup.
XRP has entered oversold territory on the daily chart, while its bearish divergence remains in play. Josh’s analysis says XRP tends to fall harder than Bitcoin when market momentum fades and rally harder during strong bull runs.
The analysis identifies $0.99 to $1 as XRP’s last major support before much lower targets.
