BTC loses $70,000 grip once again and faces heavy resistance at 10 Emma

• Bitcoin fell under Major Emma and turned red over showing red price structure
• Prices failed to break through resistance levels in multiple daily attempts
• A strong downtrend continues as buyers struggle to regain their short-term price range

Bitcoin faced another sharp rejection as prices fell below critical support levels and deepened the continued downward trend. The daily charts of TradingView shared by User Mr. reveal a continuous pattern of lower highs and lower lows. The current red daily candle shows strong bearish movements as assets are traded under the main exponential moving average (EMA).

The chart uses Emma’s ribbon to highlight the ongoing bearish momentum. These Emmas have moved from green to red, a technical sign of weakness in the trend. Sellers have consistently lowered prices as Bitcoin attempted to recover several times in recent weeks. As a result, each assembly was met by rejecting the level of resistance formed by the ribbon.

Furthermore, it shows that Bitcoin is under strong sales pressure as it could not close beyond EMAS. The chart shows that Bitcoin has failed to regain its bullish structure over the past few weeks. As of April 7th, the downtrend remains unharmed with no visible signs of a strong reversal.

Continuous sales pressure below EMA

Emma points to continuing to spread and weakening momentum as prices go down. Red candles dominate recent sessions, suggesting that the sellside remains aggressive.

What’s more, the current daily structure reflects previous failed breakout attempts. Bitcoin has repeatedly tried to break on the EMA ribbon, but it failed every time. In each attempt, price action was quickly denied.

Additionally, the ribbon now functions as a dynamic resistor. Every time the price approaches these bands, the downward pressure increases. Therefore, bullish traction is unlikely, without closing daily on top of this cluster.

The bull waits as it encourages patience

In X, Mr. emphasized that Bitcoin is still being rejected, and the need for patience. The comments posted at 7:42am on UTC were seen over 32,000 times, reflecting strong market interest.

Importantly, the community’s responses were mixed. Some sought a calm and quiet accumulation, while others expressed concern about further falls. Comments ranged from holding a long-term position to accepting market volatility in the short term.

Additionally, others questioned whether the recent move marked a surrender event. The big red candle sparked debate among market participants about current cycle status.

Will this be the final leg of Bitcoin?

Some key indicators pay particular attention to the position below all the measures EMA. The inability to hold the signal in the support area continued to be debilitated.

Therefore, as sellers continue to take control, broader emotions become bearish. Price outlook remains uncertain as bullish structures are not revitalized.

Furthermore, unless a strong reversal occurs, the further downside remains on the table. Community engagement remains active as traders track every move.