Bitcoin

Resistance

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Bitcoin price started another decline from the $66,850 resistance zone. BTC is again moving lower and might even decline below the $65,500 support zone. 
<ul> 
 <li style="font-weight: 400"><a href="https://bitcoinworld.co.in/robert-kiyosaki-expressed-frustration-as-people-refused-to-invest-in-bitcoin-btc/">Bitcoin</a> failed to climb above $67,000 and started another decline.</li> 
 <li style="font-weight: 400">The price is trading below $66,800 and the 100 hourly Simple moving average.</li> 
 <li style="font-weight: 400">There was a break below a connecting bullish trend line with support at $66,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).</li> 
 <li style="font-weight: 400">The pair could continue to move down and even trade below the $65,500 support zone.</li> 
</ul> 
<h3 id="span-style-font-weight-400-bitcoin-price-resumes-decline-span">Bitcoin Price Resumes Decline</h3> 
Bitcoin <a href="https://coinstats.app/coins/bitcoin/">price</a> struggled to climb above the $67,000 resistance zone. BTC remained in a bearish zone and started a fresh decline from the $66,868 high. There was a move below the $66,500 level. 
<figure id="attachment_74632" aria-describedby="caption-attachment-74632" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" decoding="async" class=" wp-image-74632" src="http://bitcoinworld.co.in/wp-content/uploads/BTC-Price-Chart-55-483x300.png" alt="" width="604" height="375" srcset="https://bitcoinworld.co.in/wp-content/uploads/BTC-Price-Chart-55-483x300.png 483w, https://bitcoinworld.co.in/wp-content/uploads/BTC-Price-Chart-55.png 760w" sizes="(max-width: 604px) 100vw, 604px">
 <figcaption id="caption-attachment-74632" class="wp-caption-text">
 BTC Price Chart | Source: Coinstats
 </figcaption>
</figure> 
&nbsp; 
Besides, there was a break below a connecting bullish trend line with support at $66,500 on the hourly chart of the BTC/USD pair.&nbsp; 
The pair traded below the 23.6% Fib retracement level of the upward move from the $65,075 swing low to the $66,868 high. 
Bitcoin is now trading below $66,800 and the 100 hourly Simple moving average. It seems like the price might soon test the 50% Fib retracement level of the upward move from the $65,075 swing low to the $66,868 high. 
On the upside, the price is facing resistance near the $66,500 level and the 100 hourly Simple moving average.&nbsp; 
The first major resistance could be $66,850. The next key resistance could be $67,000. A clear move above the $67,000 resistance might start a decent increase and send the price higher. 
In the stated case, the price could rise and test the $66,000 resistance. Any more gains might send BTC toward the $68,500 resistance in the near term. 
<h3 id="span-style-font-weight-400-more-losses-in-btc-span">More Losses In BTC?</h3> 
If Bitcoin fails to climb above the $66,500 resistance zone, it could continue to move down. Immediate support on the downside is near the $66,000 level. 
The first major support is $65,750. The next support is now forming near $65,500. Any more losses might send the price toward the $65,000 support zone in the near term. 
<h3 id="span-style-font-weight-400-technical-indicators-span">Technical Indicators:</h3> 
<ul> 
 <li style="font-weight: 400">Hourly MACD – The MACD is now gaining pace in the bearish zone.</li> 
 <li style="font-weight: 400">Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.</li> 
 <li style="font-weight: 400">Major Support Levels – $66,500, followed by $65,000.</li> 
 <li style="font-weight: 400">Major Resistance Levels – $66,500, and $67,000.</li> 
</ul> 
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote>

Bitcoin Price Decline Continues: Lower Targets In Sight

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