#USOctoberPPIBelowExpectations #BitcoinDropsBelow$70K

BTC/USDT 1H Technical Analysis: Bearish Pressure Tests Key Support
​Bitcoin is facing strong downward momentum on the 1-hour timeframe, currently trading around $67,369.4 after shedding 2.87% over the past 24 hours. Following a peak rejection near $75,435.4, price action has formed a clear sequence of lower highs and lower lows, driven by sustained selling volume totaling 15.43K BTC (1.06B USDT turnover).
​Bears recently pushed the price down to a 24-hour low of $66,457.8, where buyers stepped in to trigger a minor relief bounce. Immediate support sits at $66,457.8–$66,744.6. If this demand zone holds, BTC could attempt a short-term recovery toward overhead resistance levels at $68,253.3 and the major psychological barrier near $69,895.2 (which also aligns closely with the 24-hour high of $70,216.0). Conversely, a decisive 1-hour candle close below $66,450 would invalidate the bounce and expose the market to deeper downside toward $65,560.0.
​Momentum indicators reflect exhausted selling pressure:
​RSI(6): 35.2
​RSI(12): 32.0
​RSI(24): 31.4
​With all three RSI readings hovering right on the edge of oversold territory (near 30), the downtrend remains intact, though sellers may pause for consolidation or a technical relief bounce before the next major directional move.
​Disclaimer: Not financial advice. Always manage your risk.
​#Bitcoin #TechnicalAnalysis