$BTC is currently trading near 65,700 after rejecting the 68,800 resistance zone. The recent drop followed a failed breakout attempt above the 68K liquidity area, where sellers stepped in aggressively. This rejection triggered long liquidations on lower timeframes, accelerating the move toward the 65,700 support region. The 24H high near 68,272 confirms that upside momentum stalled at a key supply zone.
Technically, $BTC formed a lower high on the 1H timeframe before breaking below 67,600 short term support. Once that level failed, downside momentum expanded quickly into the next liquidity pocket. RSI has cooled from previously elevated levels, indicating that the market is resetting after an overheated push. Immediate support sits around 65,500 to 65,700, while stronger structural support rests near 64,800. Resistance remains at 67,600, with major resistance at 68,800.
The dump appears primarily technical rather than fundamental. Liquidity sweep, profit taking, and cascading liquidations drove volatility. If $BTC holds above 65K and forms a higher low, this could become a healthy correction within a broader bullish structure. A strong reclaim of 67,600 would shift momentum back toward 68,800. A confirmed breakout above that level opens the path toward the 70K psychological zone. For strategic positioning, disciplined accumulation near strong support offers better risk reward than chasing volatility. Structure confirmation remains essential.
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