The market is experiencing a correction with Bitcoin's price down by 2.45% since yesterday. However, the price is still looking bearish on the hourly chart, indicating a possible test of the resistance of $66,429. On a bigger time frame, the technical picture remains largely unchanged and consolidation between $66,000-$68,000 is likely. From a midterm perspective, bulls may need more time to build momentum and if the weekly bar closes far from the previous candle high, there is a chance of a drop to $64,000. At present, Bitcoin is trading at $66,730.



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