BTC: Facing Resistance at $67,500, Potential Downside to $65,700
hello guys.
Resistance at $68,400 (Top Line): Bitcoin is testing a strong resistance at $68,400, having failed to break above this level multiple times.
Engulfed Area: The engulfing pattern visible below $67,000 signals a potential bearish sentiment that could drive prices lower if it fails to hold the current resistance.
Potential Drop: The chart suggests a possible drop towards the $65,700 support level, which is a critical area of demand.
Support Zone: The blue-dashed line around $65,700 indicates a key support level where buyers could potentially step in.
Bearish Short-Term: If the top resistance continues to hold, the price is likely to head toward the lower support, suggesting short-term downside potential.
if the $67500 breaks down we can expect this scenario to happen!
Resistance at $68,400 (Top Line): Bitcoin is testing a strong resistance at $68,400, having failed to break above this level multiple times.
Engulfed Area: The engulfing pattern visible below $67,000 signals a potential bearish sentiment that could drive prices lower if it fails to hold the current resistance.
Potential Drop: The chart suggests a possible drop towards the $65,700 support level, which is a critical area of demand.
Support Zone: The blue-dashed line around $65,700 indicates a key support level where buyers could potentially step in.
Bearish Short-Term: If the top resistance continues to hold, the price is likely to head toward the lower support, suggesting short-term downside potential.
if the $67500 breaks down we can expect this scenario to happen!
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