Technical analysis: Bitcoin deepens decline falling to $66.5k 📉
Bitcoin is extending today’s sell-off and is sliding toward $66,500, which may represent a stronger support zone, matching the 2021 bull-market highs. The daily RSI has dropped to around 18, pointing to an extremely rare oversold condition. Additional fuel for a rebound could come from a 1:1 corrective move pattern.
If this scenario plays out and price consolidates in the $66,000–$70,000 area, a move back toward $75,000 over the next few weeks cannot be ruled out. That said, an additional downside impulse, similar in size to the current one, is also possible. Such a move could push Bitcoin toward $50,000, where we see important on-chain support levels, including the Delta Price. A potential reversal of the…
