BITCOIN UNDER HEAVY SELLING PRESSURE — BEARS ARE IN CONTROL
$BTC has taken another sharp hit, dropping to around $66,797 on the 4H chart, down approximately 2.22% at the time of the screenshot.
The technical picture is becoming increasingly bearish.
📉 What the chart tells us:
• BTC continues forming lower highs and lower lows.
• The $72,000 support zone has already given way.
• Price has now slipped below the important $68,000 level.
• Selling volume has increased during the latest breakdown, showing strong bearish pressure.
Key levels to watch:
🔴 Resistance: $68,000 – $72,000
🔴 Next resistance: $76,000
🟢 Immediate area to monitor: $66,000 – $65,000
What comes next?
Bulls need to reclaim $68K and establish support above it to improve the short-term outlook. Otherwise, further downside remains a possibility.
The broader market pressure is also significant, with ETF outflows, heavy liquidations and macroeconomic uncertainty weighing on sentiment.
#Bitcoin #BTC #CryptoMarket
$BTC has taken another sharp hit, dropping to around $66,797 on the 4H chart, down approximately 2.22% at the time of the screenshot.
The technical picture is becoming increasingly bearish.
📉 What the chart tells us:
• BTC continues forming lower highs and lower lows.
• The $72,000 support zone has already given way.
• Price has now slipped below the important $68,000 level.
• Selling volume has increased during the latest breakdown, showing strong bearish pressure.
Key levels to watch:
🔴 Resistance: $68,000 – $72,000
🔴 Next resistance: $76,000
🟢 Immediate area to monitor: $66,000 – $65,000
What comes next?
Bulls need to reclaim $68K and establish support above it to improve the short-term outlook. Otherwise, further downside remains a possibility.
The broader market pressure is also significant, with ETF outflows, heavy liquidations and macroeconomic uncertainty weighing on sentiment.
#Bitcoin #BTC #CryptoMarket
