Bitcoin’s Desperate Dash: Can It Leap Over $66,500?

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The price of Bitcoin, that fickle lover, refused to linger above $65,000, retreating further into the shadows. Now, it limps toward the $66,500 zone, a glutton for punishment.

  • Bitcoin, that wayward ship, set sail into a fresh decline, its hull splintering beneath the $65,000 support.
  • The price, a weary traveler, now trudges below $66,500, its steps measured by the 100-hour moving average’s cruel metronome.
  • A bearish trend line, that sly fox, now slinks toward $66,600 on the BTC/USD hourly chart, its teeth bared for the next morsel.
  • If the price dares to flirt with $65,500 or $65,000, expect a repeat of its earlier tantrum, a spectacle of volatility.

Bitcoin’s Feeble Revival

Bitcoin’s attempt to cling to $66,000 ended in abject failure. It plunged once more, a tragic hero falling beneath $65,000’s unyielding yoke. A brief flirtation with $64,000 followed, as if the market were auditioning for a role in a Shakespearean tragedy.

Then came the spike, a fleeting gasp below $63,000, before the price found its footing at $62,500-a temporary reprieve. Now, it ascends, a moth drawn to the flame of $65,000 and the 50% Fib retracement, though the path is fraught with thorns.

Bitcoin now hovers below $66,500, its breath shallow, its resolve fragile. Should it persist above $65,000, it may yet attempt a resurrection. But the $66,500 zone looms like a specter, and the bearish trend line at $66,600 waits with bated breath.

The first hurdle, a gilded mirage, stands at $67,200-the 76.4% Fib level. A breach might trigger a frenzy, sending the price hurtling toward $68,000, then $68,800, and finally the tantalizing $69,200 and $69,500. But let us not forget: the market is a capricious lover, prone to sudden reversals.

Another Descent? The Question Lingers

If Bitcoin falters at $66,500, expect a descent as inevitable as the setting sun. The $65,500 level, a fragile crutch, offers little solace. The $65,000 barrier, a relic of past struggles, awaits its moment of reckoning.

Beneath that, the $64,200 zone whispers promises of further carnage, while the $63,500 support, a distant cousin to the $62,500, looms like a specter of despair. Should the price plunge below $62,500, the bulls may find themselves in a quagmire, their hopes as fleeting as a candle in a hurricane.

Technical indicators:

Hourly MACD – A vigilant sentinel, now pacing the bullish realm with renewed vigor.

Hourly RSI – A fickle courtier, dancing above 50, its loyalty as mercurial as the market itself.

Major Support Levels – $65,500, that fragile promise; $65,000, the ghost of past victories.

Major Resistance Levels – $66,500, the current gauntlet; $67,200, the siren’s call.

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2026-02-25 05:28