Bitcoin Price Could Struggle And Continue Lower – Here’s Why

Bitcoin price continues to face challenges and may struggle to recover above the $67,000 level. If the price fails to hold above the $64,500 support level, bearish momentum could potentially increase. Currently, Bitcoin is trading below $67,000 and the 100 hourly Simple moving average, indicating a potential downward trend. A significant resistance level is forming near $66,400, with a major bearish trend line on the hourly chart. The immediate support level is around $65,200, followed by $64,500. Further downward movement may lead to a drop towards the $62,500 and $60,500 support zones. It is essential to conduct thorough research and consider the risks before making any investment decisions. This information is provided for educational purposes only and does not reflect the opinions of NewsBTC.