Bitcoin Price Sinks Below $68K, Downside Targets Come Into Focus

Bitcoin price declined below $68,000 and tested the $65,500 support level after breaking through a major bullish trend line. The cryptocurrency is consolidating around current levels with key resistance at $68,000 and potential downside targets at $63,500-$61,200 if support fails.

• →Bitcoin broke below key support levels at $68,500 and $68,000, testing lows near $65,646
• →A major bullish trend line with support at $68,900 was breached on the hourly chart
• →Immediate resistance sits at $67,000-$67,600 levels with major resistance at $68,000-$68,800
• →If current support at $65,500 fails, downside targets include $63,500 and $61,200
• →Technical indicators show bearish momentum with MACD gaining pace in bearish zone and RSI below 50