Bitcoin Slides Toward $65K–$69K Support Zone After Failing Key Resistance

Bitcoin’s recent price action reflects weakening momentum following a series of failed breakout attempts. After being rejected from key resistance levels, BTC has entered a broader pullback that appears more structural than temporary. The daily chart shows price rolling over after a brief bounce, signaling that buyers have been unable to regain control and restore bullish momentum.

Key Technical Levels and Market Structure

Failed Resistance and Breakdown

The $100,000–$107,000 resistance zone proved decisive for Bitcoin. Multiple attempts to sustain momentum above this area failed, triggering renewed selling pressure. Once price slipped below intermediate support in the mid-$90,000 range and then broke through $85,000, downside momentum accelerated sharply.

These breakdowns marked a clear shift in market structure, as prior buying interest at those levels quickly disappeared.

Momentum and Trend Outlook

Bitcoin was unable to maintain strength above the highlighted resistance zone, with selling pressure intensifying after repeated failures. The current chart structure shows limited evidence of a sustainable bounce in the near term, suggesting downside risk remains dominant.

As long as price remains below former breakout levels, the broader trend favors continued downside exploration rather than a swift recovery.

Why This Matters for the Crypto Market

The significance of this move extends beyond the price decline itself. Bitcoin’s failure to hold previous breakout zones has weakened overall market confidence and reinforced a more cautious environment. When Bitcoin loses key structural levels, sentiment across the broader crypto market often deteriorates as well, increasing volatility and risk aversion.

This shift suggests that traders are prioritizing capital preservation over aggressive dip-buying until stronger demand emerges.

Outlook and Key Support Zone

Technical projections now point to the $65,000–$69,000 range as the next major support zone. This area represents a critical demand region where Bitcoin may attempt to stabilize or form a base. A strong reaction here could slow the decline and open the door for consolidation.

However, failure to attract meaningful buying interest in this zone would increase the risk of deeper corrections and further erosion of bullish sentiment.

Market Takeaway

Bitcoin’s technical breakdown highlights fading conviction at higher price levels. The $65K–$69K support zone will be a decisive test for bulls. A successful defense could stabilize the market, while a breakdown below this range would likely trigger another wave of downside pressure and shake out remaining optimism.

Source: Avery