Sergey Diakov
⬤ Bitcoin is showing renewed selling pressure after losing key intraday support. As Crypto Tony, BTC is now targeting the $67,700 zone following a rejection from recent highs near $74,000 - a move that has pushed short-term structure firmly into bearish territory.
⬤ The chart reveals a clean breakdown below the $71,000-$72,000 consolidation band that previously held as support. Once that level gave way, selling accelerated quickly. Bitcoin falls below $68K as reclaiming $70K becomes critical - with that psychological threshold now acting as resistance rather than support, downside continuation looks increasingly likely in the near term.
⬤ The $67,700 level is a well-established horizontal support where BTC has previously found buyers after sharp drops. Analysis like Bitcoin tests $67K support as traders debate bottom or lower leg highlights how this zone consistently serves as a pivot between reversal and further decline. Bitcoin holds bull market support band near $67K, keeping structure intact also points to its significance within the broader cycle framework.
⬤ Despite the possibility of a technical bounce at $67,700, the current lower-high formation signals mounting downside risk. Momentum can shift fast once key supports break - and how price reacts at this critical level will set the tone for Bitcoin's next directional move.
Sergey Diakov
