{"id":140604,"date":"2026-03-09T02:44:07","date_gmt":"2026-03-09T02:44:07","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=140604"},"modified":"2026-03-09T02:44:07","modified_gmt":"2026-03-09T02:44:07","slug":"bitcoin-price-sinks-below-68k-downside-targets-come-into-focus","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=140604","title":{"rendered":"Bitcoin Price Sinks Below $68K, Downside Targets Come Into Focus"},"content":{"rendered":"

Bitcoin price started a fresh decline below $68,500 and $68,000. BTC is now consolidating and might struggle to start a recovery wave above $68,500.<\/em><\/p>\n

Bitcoin started a fresh decline after it settled above the $69,500 zone.
\nThe price is trading below $68,000 and the 100 hourly simple moving average.
\nThere was a break below a major bullish trend line with support at $68,900 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair might dip again if it trades below the $65,500 and $65,000 levels.<\/p>\n

Bitcoin Price Starts Another Decline<\/h2>\n

Bitcoin price failed to extend its increase above the $68,500 zone. BTC started a fresh decline<\/a> after it settled below the $68,000 support zone.<\/p>\n

The bears pushed the price below $67,500 and $67,200. Besides, there was a break below a major bullish trend line with support at $68,900 on the hourly chart of the BTC\/USD pair. Finally, the price tested the $65,500 zone. A low was formed at $65,646, and the price is now consolidating losses.<\/p>\n

Bitcoin is now trading below $68,000 and the 100 hourly simple moving average<\/a>. If the price remains stable above $65,500, it could attempt a fresh increase. Immediate resistance is near the $67,000 level. The first key resistance is near the $67,600 level and the 23.6% Fib retracement level of the downward move from the $74,062 swing high to the $65,646 low.<\/p>\n

<\/a><\/p>\n

A close above the $67,600 resistance might send the price further higher. In the stated case, the price could rise and test the $68,800 resistance. Any more gains might send the price toward the $68,800 level. The next barrier for the bulls could be $69,850 or the 50% Fib retracement level of the downward move from the $74,062 swing high to the $65,646 low.<\/p>\n

More Losses In BTC?<\/h2>\n

If Bitcoin fails to rise above the $68,000 resistance zone, it could start another decline. Immediate support is near the $65,500 level. The first major support is near the $65,000 level.<\/p>\n

The next support is now near the $63,500 zone. Any more losses might send the price toward the $62,000 support in the near term. The main support now sits at $61,200, below which BTC might struggle to recover in the near term.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n

Major Support Levels \u2013 $65,500, followed by $65,000.<\/p>\n

Major Resistance Levels \u2013 $68,000 and $68,800.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price started a fresh decline below $68,500 and $68,000. BTC is now consolidating and might struggle to start a recovery wave above $68,500. Bitcoin started a fresh decline after it settled above the $69,500 zone. The price is trading below $68,000 and the 100 hourly simple moving average. There was a break below a […]<\/p>\n","protected":false},"author":0,"featured_media":140605,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-140604","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/140604"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=140604"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/140604\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/140605"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=140604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=140604"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=140604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}