Bitcoin drops to $68.8K, consolidates below $71.5K resistance
Bitcoin slips to $68,782, then stalls. Price consolidates below $72,000 after breaking $72,000 and $71,500.
Per NewsBTC analysis, Bitcoin trades under the 100-hour SMA and a bearish trendline near $71,500. A hold above $69,000 keeps a rebound in play.
Upside needs a close over $71,500, then $72,400. That $72,400 aligns with the 50% Fib of the $75,998 to $68,782 drop. Next levels are $73,250 and $74,000.
Failure at $72,400 risks another leg down. Supports sit at $69,650, then $69,000 and $68,800. Deeper bids at $68,000; main support at $67,200.
- Immediate resistance: $70,800
- Key resistances: $71,500 trendline, $72,400 50% Fib
- Upside targets: $73,250, $74,000
- Supports: $69,650, $69,000, $68,800, $68,000
- Main support: $67,200
- Indicators: Hourly MACD losing bearish momentum; RSI below 50 (NewsBTC context)
Headline: Bitcoin consolidates after drop to $68,782; focus on $71,500 and $72,400
