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According to CoinStats, today’s market is facing a correction.
BTC Chart by CoinStats
BTC/USD
The Bitcoin (BTC) rate has fallen 2.45% since yesterday.
Image by TradingView
Despite today’s decline, BTC price looks bearish on the hourly chart. If nothing changes by the end of the day, it could quickly test the $66,429 resistance.
Image by TradingView
Looking at the larger time frame, the technical situation has not changed significantly since yesterday.
related
In this case, continued consolidation in the $66,000 to $68,000 zone is the more likely scenario.
Image by TradingView
From a medium-term perspective, the bulls may need more time to accumulate energy for further moves. If the weekly closes far away from the previous candlestick high ($69,363), a drop to the $64,000 level is possible.
At the time of writing, Bitcoin is trading at $66,730.
