Bitcoin prices continue to decline, falling below the $66,500 level. Prices have dropped below the $66,000 and $65,500 levels. Prices even tested the support area at $65,200.

The low point formed at $65,199, and the price rose again. The price significantly broke through the $66,500 level. The price climbed above the 23.6% Fibonacci retracement level of the downtrend from the high point of $69,425 to the low point of $65,199. Additionally, on the hourly chart of BTC/USD, the price broke through the key put trendline, with resistance at $66,800.

Bitcoin prices are currently below $67,500 and the 100-hourSimple Moving Average. On the upside, the price may face resistance near $67,300 or around the 50% Fibonacci retracement level of the downtrend from the high point of $69,425 to the low point of $65,199.

The first key resistance level is near $67,500. If the resistance level at $67,500 can be clearly broken, the price may further rise. The next key resistance level may be $68,000.

A close above the $68,000 resistance level may trigger more gains. In this case, the price may rise and test the $69,200 resistance level. Any further gains could potentially push the price towards the $70,000 resistance level.

If bitcoin fails to break through the resistance zone at $67,500, it may fall again. Directly downwardsResistanceAround $66,500.

The first major resistance is near $66,200. The next resistance is currently around the $66,000 area. If the price continues to drop, it may fall to the support level of $65,200 in the short term.