đ¨ BITCOIN STRUGGLES BELOW $70K AS SELLING PRESSURE CONTINUES!
Bitcoin is still facing strong downside pressure despite US PPI data coming in slightly below expectations.
The US Producer Price Index (PPI) recorded 6.5% year-over-year, compared with the 6.6% forecast. Although the reading was marginally lower, it remains the highest annual level since 2022.
BTC briefly recovered toward $70,000 following the report, but buyers failed to maintain momentum. The price quickly pulled back, showing that market confidence remains weak.
đ What's Driving the Decline?
Fed concerns: Markets are still pricing in a high probability of a December rate hike.
Strong US Dollar: Continued dollar strength is putting pressure on risk assets.
ETF Outflows: Institutional investment flows remain a concern for Bitcoin.
Heavy Liquidations: More than $1.4 billion in liquidations have added to the selling pressure.
đ BTC Price Outlook
Bitcoin is trading around $67,350 after losing the important $70K level. The short-term structure still looks bearish unless buyers manage to reclaim key resistance.
đŻ Trading Setup â Bearish Scenario
Entry Zone: $67,800â$68,400
Target 1: $66,900
Target 2: $65,500
Target 3: $64,000
Stop Loss: Above $69,200
Confirmation: This short setup only becomes interesting if BTC fails to reclaim $68,500 convincingly. Position sizing should remain small because volatility is still elevated.
đĄ My Take
Bitcoin needs stronger buying pressure to reverse its current weakness. Until it recovers important resistance levels, sellers may continue to control the short-term trend.
These levels represent a trading scenario, not guaranteed price targets.
Not financial advice. Always DYOR and manage risk carefully.
$BTC #Bitcoin #CryptoMarket #USPPIMissMayEaseBTCPressure
Bitcoin is still facing strong downside pressure despite US PPI data coming in slightly below expectations.
The US Producer Price Index (PPI) recorded 6.5% year-over-year, compared with the 6.6% forecast. Although the reading was marginally lower, it remains the highest annual level since 2022.
BTC briefly recovered toward $70,000 following the report, but buyers failed to maintain momentum. The price quickly pulled back, showing that market confidence remains weak.
đ What's Driving the Decline?
Fed concerns: Markets are still pricing in a high probability of a December rate hike.
Strong US Dollar: Continued dollar strength is putting pressure on risk assets.
ETF Outflows: Institutional investment flows remain a concern for Bitcoin.
Heavy Liquidations: More than $1.4 billion in liquidations have added to the selling pressure.
đ BTC Price Outlook
Bitcoin is trading around $67,350 after losing the important $70K level. The short-term structure still looks bearish unless buyers manage to reclaim key resistance.
đŻ Trading Setup â Bearish Scenario
Entry Zone: $67,800â$68,400
Target 1: $66,900
Target 2: $65,500
Target 3: $64,000
Stop Loss: Above $69,200
Confirmation: This short setup only becomes interesting if BTC fails to reclaim $68,500 convincingly. Position sizing should remain small because volatility is still elevated.
đĄ My Take
Bitcoin needs stronger buying pressure to reverse its current weakness. Until it recovers important resistance levels, sellers may continue to control the short-term trend.
These levels represent a trading scenario, not guaranteed price targets.
Not financial advice. Always DYOR and manage risk carefully.
$BTC #Bitcoin #CryptoMarket #USPPIMissMayEaseBTCPressure