Bitcoin has fallen again: Selling pressure does not end

Bitcoin It had a hard time climbing above the $67,000 resistance zone. BTC remained in a risky price range and started a fresh decline from $66,868.

There was a break below the bullish trend line with support at $66,500 on the hourly chart of the BTC/USD pair. The pair traded below the 23.6% Fib retracement level of the real increase from the $65,075 low to $66,868 low. Bitcoin is currently changing hands at $66,800. BTC may soon test the 50% Fib retracement level of the real rally from the $65,075 to $66,868 high.

On the upside, it is facing resistance near the $66,500 level and the 100 hourly Easy moving average. The first major resistance could be $66,850. The next key resistance could be $67,000. A clear move above the $67,000 resistance could start a decent increase and push the price higher.

What do indicators say for Bitcoin?

If Bitcoin fails to climb above the $66,500 resistance zone, it could continue declining. The $66,000 band can be followed as a support level. The first major support is $65,750. The next support is currently forming near $65,500. Any further selling pressure could send the price towards the $65,000 support zone in the near term.

Technical indicators:

Hourly MACD – The MACD is currently gaining momentum in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently below the 50 level.

Main Base Levels – $66,500, then $65,000.

Major Resistance Levels – $66,500 and $67,000.