Bitcoin price risks $70K if $78K neckline breaks

Bitcoin price remained under pressure near $78,500 after a retreat from its Sept. 3 peak of $82,283, while weakening momentum and a possible head-and-shoulders pattern raised the risk of a deeper correction. Summary Bitcoin price fell about 4.6% from $82,283 to trade near $78,500. The 4-hour RSI stood at 43.58, showing that sellers retained a modest advantage. A possible head-and-shoulders pattern places $78,000–$79,000 at the key neckline. Liquidation clusters sit near $80,000 above price and $77,500 below it. Bitcoin price action today According to data from crypto.news, Bitcoin (BTC) price traded near $78,500 late on Sept. 9 after moving between approximately $78,060 and $79,760 during the daily session. The price has lost about 4.6% since reaching $82,283 on Sept. 3. The latest decline extended a sequence of lower highs visible on the 4-hour chart. Buyers defended the area near $78,000 several times, but each rebound struggled to regain the psychological $80,000 level. Bitcoin price 4-hour chart — Sep. 10 | Source: crypto.news Bitcoin’s position inside the 4-hour Bollinger Bands also showed fading short-term strength. The asset traded at about $78,522, below the middle band at ...