#BitcoinDropsBelow$70K
My view: In the short term, Bitcoin remains in a bearish structure; it is too early to declare the $69,000 level a bottom. However, the sharp sell-off has created conditions conducive to a "relief rally."

The closes over the next few days and weeks will be critical.

1. What is happening with Bitcoin?

The sell-off on November 13 was driven by several factors:

* A strengthening US dollar (the Dollar Index rising above the 103 level).
* Growing expectations that the Fed might raise interest rates in December.
* Over $1.6 billion in crypto liquidations within a 24-hour period.
* Continued outflows from spot Bitcoin ETFs.
* A decline in appetite for risk assets.

On November 13, Bitcoin fell to approximately $67,555, deepening its decline below the $70,000 mark.

2. Critical Bitcoin support levels

Short-term bearish trend

The levels I will be monitoring are as follows:

$74,000 – $76,000

Bullish recovery zone

Strong resistance. Reclaiming this area would improve the market structure.

$70,000 – $72,000

Initial resistance

Bitcoin needs to reclaim this zone to demonstrate meaningful buying power.

$66,000 – $68,000

Immediate support

The most important demand zone in the short term. It is essential for buyers to defend this area. $63,000 – $64,000

Next downside target

A potential level to reach in the event that the immediate support zone is broken.

$60,000 – $62,000

A deeper correction

The next significant support area that could come into play if selling pressure intensifies.

3. Three possible scenarios

Scenario A: Continuation of the decline

Risk

BTC losing the $66,000 level on a sustained basis.

* First target: $64,000
* Second target: $60,000 – $62,000

The likelihood of this scenario increases if ETF outflows persist and the dollar continues to strengthen. Scenario B: Rebound

Recovery

BTC holds the $66,000 – $68,000 range and climbs back above the $70,000 level.

* First target: $72,000
* Second target: $74,000 – $76,000

Oversold conditions could help trigger a short-term recovery.

Scenario C: A strong reversal

Bullish trend

BTC records daily closes above the $76,000 level.

This would serve as stronger evidence that buyers have regained control.

4. My personal assessment

I suggest paying close attention, particularly to the $66,000 – $68,000 zone.

There is a significant difference between an oversold market and a market that has truly found its bottom.

On November 13, Bitcoin’s daily RSI was hovering near the 25 level, which points to oversold conditions. However, strong downward momentum can keep prices under pressure, even when the RSI is in the oversold zone.

My preferred approach would be as follows:

* Avoid chasing short-term relief rallies.
* Monitor whether a daily close occurs above the $70,000 level.
* Observe a decline in selling volume alongside an improvement in ETF inflows.
* Consider a sustained breakdown below the $66,000 level as a warning sign of further declines.

Key levels to watch: $66,000 (support), $70,000 (recovery threshold), and $75,000–$76,000 (the zone for confirming a bullish trend).

These are not definitive price targets, but rather technical scenarios contingent upon specific conditions.

5. An important question

Are you approaching Bitcoin as a short-term trader or as a long-term investor?

I can develop a more detailed BTC accumulation strategy—covering potential entry zones, downside risks, and profit targets—for the remainder of November and December 2026.
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