[Traders: Bitcoin's Key Trendline at $68,400 May Support Its Price] According to Cointelegraph, multiple traders have analyzed that Bitcoin's price may be approaching a critical long-term trendline support level. Analysis shows that Bitcoin's 200-week exponential moving average (EMA) is currently around $68,400, which is considered an important potential macro bottom area. Trader Nic Puckrin pointed out that if Bitcoin breaks below the current April low of approximately $74,400, the next key support level is near $70,000. If it falls further, the market may look toward the $55,700 to $58,200 range, which lies between the global average cost of holdings and the 200-week moving average, and is expected to serve as the ultimate bottom. Other traders, such as Altcoin Sherpa and BitBull, also believe that a price pullback to the 200-week EMA is 'logical,' and historically, every time Bitcoin breaks below the 100-week EMA, it typically retests the 200-week EMA as long-term support.