There was a clear break below the $65,000 support and the 100 hourly simple moving average.
There was a recovery wave above the 23.6% Fib retracement level of the recent decline from the $68,991 swing high to $62,700 low.
The first major resistance is near the $65,000 level and the 100 hourly SMA.
It is close to the 50% Fib retracement level of the recent decline from the $68,991 swing high to $62,700 low.
If bitcoin fails to clear the $65,000 resistance zone, it could extend its downside correction.
The first major support is now forming near the $63,000 level.
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