Bitcoin Price Analysis: BTC Falls Below $61,000, Here’s the Next Target

Crypto Blog

Bitcoin’s rejection at $66K and the break below the 200-day moving average suggest that bearish sentiment is gaining strength.

However, upon reaching the $66K resistance zone, substantial selling pressure emerged, halting the uptrend. This area has historically served as a robust multi-month resistance, and Bitcoin’s failure to surpass it resulted in a significant rejection. This selling pressure led to a sharp rejection, resulting in a 10% decline. The presence of sellers near the $66K level indicates that it remains a formidable barrier, acting as a key resistance level in the broader market outlook.

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