Bitcoin Risks Correction Toward $71,000

Bitcoin is forming a potential rounded-top pattern on its four-hour chart, with the $76,000 to $76,300 range acting as a critical support level. A decisive breakdown below this neckline could lead to a technical target between $70,900 and $71,000. While perpetual futures demand remains positive, weak spot-market activity and neutral momentum indicators suggest the cryptocurrency is currently in a consolidation phase.