Analyst: BTC must hold $73K support level

Bitcoin has entered a critical juncture and must definitively hold the $73,000 level to secure further upward momentum, according to analyst Ali Martinez. In a post on X, Martinez explained that for the third time in the last six months, BTC is retesting its 100-day Simple Moving Average (SMA) as a resistance level on the daily chart. He noted that in October of last year, BTC was rejected by this resistance, leading to a roughly 30% drop from $116,000 to $80,000. A similar failure to break through in January of this year resulted in a drop of about 39%. Martinez warned that if the current retest fails, it could form a triple top pattern, potentially sending the price back down to its low of $59,000. Conversely, if BTC breaks through the resistance and establishes a position above the 100-day SMA, it could rally to the $80,000–$84,000 range, he added.