Bitcoin at Critical $69K-$72K Support: Death Cross Signals Deeper Correction Risk

TLDR: Bitcoin death cross forms on daily charts with moving averages positioned far above current price Weekly close below $69K-$72K support could trigger next leg down into deeper correction territory Binance withdrawal data shows whale accumulation doubled to 13.3 BTC average since late January Price must reclaim $82K then mid-$90Ks to establish bottoming pattern and reverse bearish trend Bitcoin faces a critical test as price slides into the $69,000 to $72,000 support zone amid mounting bearish technical signals. A death cross has formed on daily charts while weekly moving averages remain far overhead. Traders warn that a clean weekly close below this range could trigger a deeper correction phase. The current price action shows weak bounce attempts with consistent rejections at key resistance levels. Death Cross Formation Signals Bearish Trend Structure The technical setup has deteriorated significantly as BTC continues its descent from higher levels. Daily charts now display an active death cross with the 50-day and 200-day moving averages positioned miles above current price. This configuration represents a classic bearish trend structure where rallies meet aggressive selling pressure. Weekly timeframes confirm the concerning technical picture. Price remains trapped below the exponential moving average ribbon with repeated rejection attempts at that level. Any upward moves are functioning as retests rather than genuine reversals. Trader @DamiDefi emphasized that pumps are getting sold while supports face continuous stress tests. $BTC update, this is basically the exact continuation of the “death cross + lost weekly EMA ribbon” warning I posted. The bounce attempts have been weak, and price has now slid all the way into that $69K–$72K band, the level that decides whether this is just a nasty shakeout or… https://t.co/bZw17hrcMh pic.twitter.com/rZed8M6JyT — Dami-Defi (@DamiDefi) February 9, 2026 The $69,000 to $72,000 band now represents the final line of defe...