Bitcoin Bears Gain Control: Further Drops on the Horizon

BTC Technical Analysis:
The Bitcoin price failed to gain momentum above the $68,000 resistance against the US Dollar. BTC started a fresh decline and it is now trading below the $67,000 support. The current price action is bearish, indicating a possible break below the $66,000 support in the near term.
Key Support Levels:
If there is a downside break below the $66,000 support, the price could decline further towards the $65,000 support. The next major support is near the $64,500 level, below which the price could test the $64,000 zone.
Key Resistance Levels:
On the upside, the $67,000 level is an initial resistance. The main resistance is now forming near the $68,000 zone. A successful close above the $68,000 level could start a strong increase towards the $70,000 level.
Bitcoin Dominance:
Bitcoin dominance is also declining and it is now trading well below the 65% level. Ethereum is gaining pace and it could continue to outperform BTC in the near term. Other altcoins like Solana (SOL), Cardano (ADA), and Binance Coin (BNB) are also showing positive signs and could rally in the coming days.
Trending Hashtags:
#Bitcoin, #BTC, #Crypto, #CryptoNews, #Altcoins, #Ethereum, #SOL, #ADA, #BNB
Crypto Tickers:
BTC, ETH, SOL, ADA, BNB

Sentiment Result : Negative

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