Bitcoin Falls Into the 60,000s-An Overly Dramatic Consumer Tale

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Bitcoin has refused to indulge in the genteel habit of staying above $68,000, instead opting for an abrupt plunge. The digital coin is now trimming its losses with grim determination, and pulling itself out of the $66,000’s shallow pond might prove audacious.

  • Bitcoin has gone on a fresh melancholy tour, slipping beneath the $66,500 support line.
  • The price is now mumbling beneath both $66,500 and the venerable 100‑hour simple moving average.
  • At a fortuitous hour, it broke the bullish trendline supporting $68,000 on the BTC/USD pair (courtesy of a fabled Kraken feed).
  • Should it tumble below the $64,500 and $64,200 demarcations, another vertiginous drop could follow.

Bitcoin’s 5% Dip-No Fortune, Just Faltering

Once a sturdy flag above $67,200, Bitcoin now reckons with the post‐humble hour and finds itself perched below $66,500. The descent even brushed past $66,000, feeling a tug that whispered of deeper lows.

It managed to crest and then slide under $65,000, as if rehearsing a dramatic exit. The bullish trendline, supporting $68,000 on the hourly chart, was mercilessly breached. A sober low of $64,203 came into view, and Bitcoin is now gnawing on the remnants of a former bright run. Of course, a fleeting climb past $64,500 did nothing to restore confidence; the 23.6% Fib line tucked itself just below that, like a well‑tuned corkscrew.

Now, with the price firmly below $66,500 and the customary 100‑hour moving guide, it will need to muster the steadiness above $64,200 if it harbours any ambition of a fresh lift. Immediate resistance is perched near $65,250, a smug little sentinel.

The principal resistance looms close at $66,400-the 50% Fib mark of the recent drop from the lofty $68,653 high to the sobering $64,203 low. Should the coin briefly graze above $66,400, it might gulp more ambition, only to test the $67,000 threshold. A hearing beyond that would see a haughty $67,600, followed by the emphatic kindling at $68,000 and $68,500.

Another Decline in BTC?-The Noose Tightens

If Bitcoin refuses to breach the $66,000 lodgment, another decline may preside over the plaza. Immediate support sits near $64,400, while the primary guard resides around $64,200.

The next safety net resides roughly in the $63,500 zone. More downticks might drag it toward the sure support at $62,850 in the foreseeable future. Below that lies the principal floor at $62,000; below that threshold, BTC’s chances of a swift rebound glean only dim hope.

Indicative tickers:

Hourly MACD – The MACD’s pacing has sensed an increasingly negative wolf‑like Rhetoric.

Hourly RSI – The RSI for BTC/USD now lingered below the half‑mark of fifty.

Major Support Levels – $64,500, then $64,200.

Major Resistance Levels – $66,000 and $66,500.

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2026-02-23 06:06