Bitcoin Technical Weakness Persists Despite Wall Street Sentiment

Bitcoin's price has been affected by selling pressure in the $74,000–$76,000 range, causing it to pull back despite strong sentiment on Wall Street. This technical weakness is evident on charts and may impact the cryptocurrency's upward trend.

The current downward move bears similarities with a previous one, where selling pressure reappeared around the 38.2% Fibonacci retracement of the January decline. This resistance point previously triggered a major breakdown to the upside or a strong downward impulse.