Buying BTCUSD at support in 70,000–75,000 price zone

BTCUSD has been rapidly approaching its target—the previously broken resistance level at $75,000—throughout this week. This level is now likely to act as support.

Daily trading volumes indicate that panic selling peaked on Tuesday and Wednesday, with the largest number of buyers exiting the market on those days. On Tuesday alone, investors withdrew over $1 billion, marking the largest single-day outflow since last year. The liquidation of a significant number of speculative long positions further intensified BTCUSD's decline.

Yesterday, Bitcoin trading volumes were a third lower than on Tuesday, while the price fell by a similar margin. This suggests that the downward movement is occurring in a thin order book, indicating that bearish momentum may soon peak, and Bitcoin price could start forming new support.

The technical correction was exacerbated by Trump's recent comments that 25% tariffs on Canada and Mexico will take effect on March 4, with an additional 10% levy on Chinese imports. Buying Bitcoin has become a popular "Trump trade" since the U.S. election. The president's stated goal of making the U.S. "the crypto capital of the planet and the Bitcoin superpower of the world" has significantly boosted investor and speculator interest.

Once BTCUSD enters the potential technical support zone between 70,000 and 75,000, traders can begin cautiously looking for buying opportunities. The price is likely to consolidate within this range for an extended period. The next target for the upward movement would be the newly formed resistance level at $90,000.

Final Recommendation: Buy BTCUSD from the support zone of 70,000–75,000.

Take Profit: 90,000

Stop Loss: 55,000

The volume of the opened position should be set in such a way that the value of a possible loss, fixed with the help of a protective Stop loss order, is no more than 1% of your deposit funds.