Bitcoin’s price took a nosedive from the $69,250 high, leaving investors wondering if they’ve just witnessed the beginning of the end-or just a particularly dramatic nap.
- Bitcoin failed to settle above $68,000, which is like trying to fit a hippo into a minivan-possible, but not advisable.
- The price is trading below $67,000 and the 100 hourly simple moving average, which is about as reliable as a weather forecast in a tornado.
- A bearish trend line is forming with resistance at $67,450, which is about as useful as a chocolate teapot in a snowstorm.
- The pair might start another decline if it stays below $67,500 and $67,800, which are about as stable as a Jenga tower built by a toddler.
Bitcoin’s price failed to stay above $68,800 and started a fresh decline. BTC traded below $68,200 and $68,000 to enter a bearish zone, which is like walking into a party where everyone’s already left.
The bears even pushed the price below $67,000. A low was formed at $65,688, and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $69,250 swing high to the $65,688 low. This is the financial equivalent of a cat chasing its tail-endless, futile, and slightly alarming.
Bitcoin is now trading below $67,000 and the 100 hourly simple moving average. If the price remains stable above $65,500, it could attempt a fresh increase. Immediate resistance is near the $67,000 level, which is about as welcoming as a broken escalator.
The first key resistance is near the $67,500 level or the 50% Fib retracement level of the downward move from the $69,250 swing high to the $65,688 low. There is also a bearish trend line forming with resistance at $67,450 on the hourly chart of the BTC/USD pair. This is the financial world’s version of a “Do Not Enter” sign-ignored by everyone, but still there.
A close above the $67,500 resistance might send the price further higher. In the stated case, the price could rise and test the $68,000 resistance. Any more gains might send the price toward the $68,500 level. The next barrier for the bulls could be $68,800, which is about as likely as a penguin flying.
If Bitcoin fails to rise above the $67,500 resistance zone, it could start another decline. Immediate support is near the $66,000 level, which is about as dependable as a promises made by a used car salesman.
The first major support is near the $65,500 level. The next support is now near the $65,000 zone. Any more losses might send the price toward the $64,200 support in the near term. The main support now sits at $63,500, below which BTC might struggle to recover in the near term. This is the financial equivalent of a sinking ship-no one wants to be near it.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bearish zone, like a train that’s lost its tracks and is heading straight for a cliff.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level, which is like a toddler’s tantrum-unpredictable and likely to get worse.
Major Support Levels – $66,000, followed by $65,500. These are about as reliable as a weather forecast in a hurricane.
Major Resistance Levels – $67,500 and $68,000. These are about as stable as a Jenga tower built by a toddler.
Read More
- All Shadow Armor Locations in Crimson Desert
- How to Get the Sunset Reed Armor Set and Hollow Visage Sword in Crimson Desert
- Best Bows in Crimson Desert
- All Skyblazer Armor Locations in Crimson Desert
- All Golden Greed Armor Locations in Crimson Desert
- Wings of Iron Walkthrough in Crimson Desert
- Marni Laser Helm Location & Upgrade in Crimson Desert
- All Helfryn Armor Locations in Crimson Desert
- How to Craft the Elegant Carmine Armor in Crimson Desert
- Keeping Large AI Models Connected Through Network Chaos
2026-04-03 06:05