Bitcoin price started a downside correction below the $66,000 pivot level.
There was a clear break below the $65,000 support and the price even spiked below $64,000.
Bitcoin climbed above the 23.6% Fib retracement level of the key decline from the $68,990 swing high to $62,700 low.
It is close to the 50% Fib retracement level of the key decline from the $68,990 swing high to $62,700 low.
If bitcoin fails to clear the $66,500 resistance zone, it could extend its downside correction.
The first major support is now forming near the $63,500 level.
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