{"id":141183,"date":"2026-03-11T00:00:58","date_gmt":"2026-03-11T00:00:58","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=141183"},"modified":"2026-03-11T00:00:58","modified_gmt":"2026-03-11T00:00:58","slug":"bitcoin-hits-range-highs-rejection-could-send-price-toward-62800","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=141183","title":{"rendered":"Bitcoin Hits Range Highs: Rejection Could Send Price Toward $62,800"},"content":{"rendered":"

Bitcoin has climbed back to the top of its current trading range, placing the market at a critical decision point. While a breakout could open the door to further upside, analysts warn that failure to push higher may trigger a sharp rejection. If selling pressure emerges at these highs, Bitcoin could rotate back toward the key support<\/a> level around $62,800.<\/p>\n

A Return To The Top Of Its Trading Range<\/h2>\n

Bitcoin<\/a> moves to its range highs, prompting analyst Lennaert Snyder to issue a cautious update<\/a> regarding current market conditions. Snyder highlights his trading strategy: avoiding long positions at the top of a range. Since the most logical and high-probability buying opportunities are found at the range lows, entering a long at these elevated levels presents an unfavorable risk-to-reward ratio.<\/p>\n

Instead of chasing the upward momentum, the current technical setup suggests that a shorting scenario is much more compelling. Snyder is currently tracking three potential paths for today\u2019s price action, each focusing on how Bitcoin reacts to overhead resistance.<\/p>\n

If Bitcoin begins to drop from its current position and loses the critical market<\/a> structure level at $69,383, it would signal a shift in momentum. In this case, Snyder intends to enter a short position, targeting the \u201cweak lows\u201d situated around $65,280.<\/p>\n

Furthermore, there is buy-side liquidity<\/a> still resting above the current price at $71,200 and $72,846. If Bitcoin pushes higher to \u201csweep\u201d these pools and trap breakout buyers, Snyder will wait for a bearish Market Structure Break (MSB) to confirm the move. This confirmation would then serve as the entry point to short the asset back down toward the same $65,280 target.<\/p>\n

Bitcoin Touches Exact Range High At $70,500<\/h2>\n

In a recent technical update<\/a>, crypto analyst Zord highlighted that Bitcoin has accurately tapped the Range High at approximately $70,500, a level previously identified in his last market analysis. This precise touch confirms the current range boundaries, placing the asset at a critical inflection point where the next major directional move will likely be decided.<\/p>\n

The potential for a bullish expansion remains on the table, with Zord noting that a successful breakout from this resistance could finally propel BTC toward a new all-time high or a sweep of the $74,000 level. However, the analyst<\/a> cautioned that despite the proximity to these highs, a definitive breakout has not yet materialized.<\/p>\n

Conversely, the risk of a rejection at this overhead resistance carries significant downside implications. If BTC fails to sustain its momentum<\/a> here, Zord anticipates an immediate retracement back through the Range Mid, ultimately targeting the Range Low situated at $62,800.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin has climbed back to the top of its current trading range, placing the market at a critical decision point. While a breakout could open the door to further upside, analysts warn that failure to push higher may trigger a sharp rejection. If selling pressure emerges at these highs, Bitcoin could rotate back toward the […]<\/p>\n","protected":false},"author":0,"featured_media":141184,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-141183","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/141183"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=141183"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/141183\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/141184"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=141183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=141183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=141183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}