{"id":143920,"date":"2026-03-23T03:42:45","date_gmt":"2026-03-23T03:42:45","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=143920"},"modified":"2026-03-23T03:42:45","modified_gmt":"2026-03-23T03:42:45","slug":"bitcoin-price-sinks-deeper-is-a-larger-breakdown-now-unfolding","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=143920","title":{"rendered":"Bitcoin Price Sinks Deeper, Is a Larger Breakdown Now Unfolding?"},"content":{"rendered":"

Bitcoin price started a sharp decline from well above $72,000. BTC is now consolidating and might extend losses unless there is a close above $70,000.<\/em><\/p>\n

Bitcoin started a sharp decline below $71,200 and $70,500.
\nThe price is trading below $70,500 and the 100 hourly simple moving average.
\nThere is a bearish trend line forming with resistance at $69,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair might continue to decline if it stays below the $69,200 and $70,000 levels.<\/p>\n

Bitcoin Price Dips Further<\/h2>\n

Bitcoin price started a sharp decline from well above $72,000. BTC declined below $71,200 and $70,000 to enter a short-term bearish zone.<\/p>\n

The bears even pushed the price below $69,500. There was a move toward $67,500. A low was formed at $67,343, and the pair is now consolidating losses<\/a>. There was a minor upward move above $68,000, but the price stayed well below the 23.6% Fib retracement level of the downward move from the $75,999 swing high to the $67,343 low.<\/p>\n

Bitcoin is now trading below $70,000 and the 100 hourly simple moving average<\/a>. Besides, there is a bearish trend line forming with resistance at $69,200 on the hourly chart of the BTC\/USD pair.<\/p>\n

If the price remains stable above $68,000, it could attempt a fresh increase. Immediate resistance is near the $69,000 level. The first key resistance is near the $69,200 level and the trend line. A close above the $69,200 resistance might send the price further higher.<\/p>\n

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

In the stated case, the price could rise and test the $70,000 resistance. Any more gains might send the price toward the $71,650 level or the 50% Fib retracement level of the downward move from the $75,999 swing high to the $67,343 low. The next barrier for the bulls could be $72,800.<\/p>\n

Downside Extension In BTC?<\/h2>\n

If Bitcoin fails to rise above the $70,000 resistance zone, it could start another decline. Immediate support is near the $68,000 level. The first major support is near the $67,250 level.<\/p>\n

The next support is now near the $66,500 zone. Any more losses might send the price toward the $65,000 support in the near term. The main support now sits at $63,500, 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 $68,000, followed by $67,250.<\/p>\n

Major Resistance Levels \u2013 $69,200 and $70,000.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price started a sharp decline from well above $72,000. BTC is now consolidating and might extend losses unless there is a close above $70,000. Bitcoin started a sharp decline below $71,200 and $70,500. The price is trading below $70,500 and the 100 hourly simple moving average. There is a bearish trend line forming with […]<\/p>\n","protected":false},"author":0,"featured_media":143921,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-143920","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\/143920"}],"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=143920"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/143920\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/143921"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=143920"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=143920"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=143920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}