--- title: "Bitcoin Price Extends Decline Rapidly As Key Supports Paves Way" type: "News" locale: "en" url: "https://longbridge.com/en/news/288001070.md" description: "Bitcoin price has declined below $74,000, struggling to maintain support at $72,000. After failing to hold above $75,000, it dipped to a low of $72,470. Immediate resistance is at $73,800, while key support levels are at $72,500 and $72,000. If Bitcoin cannot rise above $74,500, further declines may occur, potentially reaching $70,500. Technical indicators show a bearish trend." datetime: "2026-05-29T02:40:49.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/288001070.md) - [en](https://longbridge.com/en/news/288001070.md) - [zh-HK](https://longbridge.com/zh-HK/news/288001070.md) --- # Bitcoin Price Extends Decline Rapidly As Key Supports Paves Way _Bitcoin price started a fresh decline below the $74,000 zone. BTC is consolidating and might struggle to stay above the $72,000 support._ - Bitcoin failed to stay above $75,000 and extended losses. - The price is trading below $74,000 and the 100 hourly simple moving average. - There is a bearish trend line forming with resistance at $73,750 on the hourly chart of the BTC/USD pair (data feed from Kraken). - The pair might extend losses if it stays below the $74,000 and $75,000 levels. **Bitcoin Price Extends Losses** Bitcoin price failed to stay above the $75,500 support zone. BTC remained in a bearish zone and extended losses below the $75,000 level. There was a move below the $74,200 level. The price even dipped below $73,000. A low was formed at $72,470 and the price is now consolidating losses. It is still struggling below the 23.6% Fib retracement level of the downward move from the $77,810 swing high to the $72,470 low. Bitcoin is now trading below $74,000 and the 100 hourly simple moving average. If the price remains stable above $72,000, it could attempt a fresh increase. Immediate resistance is near the $73,800 level. There is also a bearish trend line forming with resistance at $73,750 on the hourly chart of the BTC/USD pair. The first key resistance is near the $74,500 level. A close above the $74,500 resistance might send the price further higher. In the stated case, the price could rise and test the $75,150 resistance or the 50% Fib retracement level of the downward move from the $77,810 swing high to the $72,470 low. Any more gains might send the price toward the $75,500 level. The next barrier for the bulls could be $76,200. **More Downside In BTC?** If Bitcoin fails to rise above the $74,500 resistance zone, it could start another decline. Immediate support is near the $72,500 level. The first major support is near the $72,000 level. The next support is now near the $71,200 zone. Any more losses might send the price toward the $70,500 support in the near term. The main support now sits at $70,000, below which BTC might struggle to recover in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $72,500, followed by $72,000. Major Resistance Levels – $73,750 and $74,500. ### Related Stocks - [GBTC.US](https://longbridge.com/en/quote/GBTC.US.md) - [COIN.US](https://longbridge.com/en/quote/COIN.US.md) - [LMBO.US](https://longbridge.com/en/quote/LMBO.US.md) - [MRAL.US](https://longbridge.com/en/quote/MRAL.US.md) - [BTCW.US](https://longbridge.com/en/quote/BTCW.US.md) - [BTF.US](https://longbridge.com/en/quote/BTF.US.md) - [BITQ.US](https://longbridge.com/en/quote/BITQ.US.md) - [HODL.US](https://longbridge.com/en/quote/HODL.US.md) - [BITO.US](https://longbridge.com/en/quote/BITO.US.md) - [CONL.US](https://longbridge.com/en/quote/CONL.US.md) - [MNRS.US](https://longbridge.com/en/quote/MNRS.US.md) - [BITB.US](https://longbridge.com/en/quote/BITB.US.md) - [BLKC.US](https://longbridge.com/en/quote/BLKC.US.md) - [BTCHKD.VAHK](https://longbridge.com/en/quote/BTCHKD.VAHK.md) - [BTCUSD.VAHK](https://longbridge.com/en/quote/BTCUSD.VAHK.md) ## Related News & Research - [SpaceX joins Bitcoin's top 8 club with 18.7K holdings: Bulls back alive](https://longbridge.com/en/news/289630479.md) - [LIVE MARKETS-Bitcoin's dull year may signal market maturity, Bernstein says](https://longbridge.com/en/news/289082198.md) - [Aave Proposal Moves To Add Circle Wrapped Bitcoin As Collateral](https://longbridge.com/en/news/289644974.md) - [Metaplanet to acquire Siiibo Securities for $13 million to develop bitcoin-linked yield products](https://longbridge.com/en/news/289577739.md) - [Institutions Don't Mind Scooping Up Bitcoin At A Discount, Says Top Coinbase Exec](https://longbridge.com/en/news/289160778.md)