BTC: Facing Resistance at $67,500, Potential Downside to $65,700
2024-10-18

hello guys.

 Resistance at $68,400 (Top Line):  Bitcoin is testing a strong resistance at $68,400, having failed to break above this level multiple times.

 Engulfed Area:  The engulfing pattern visible below $67,000 signals a potential bearish sentiment that could drive prices lower if it fails to hold the current resistance.

 Potential Drop:  The chart suggests a possible drop towards the $65,700 support level, which is a critical area of demand.

 Support Zone:  The blue-dashed line around $65,700 indicates a key support level where buyers could potentially step in.

 Bearish Short-Term:  If the top resistance continues to hold, the price is likely to head toward the lower support, suggesting short-term downside potential.

 if the $67500 breaks down we can expect this scenario to happen! 

