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Good morning everyone.
#BTC is now facing a third rejection from the rising trendline. The latest candle is also printing a shooting star, which usually points to exhaustion after a push higher.
With multiple rejections from the same area, it’s clear that upside is struggling for now.
From here, $BTC can start drifting lower. The first level to watch is $67,000–$66,800. If that doesn’t hold, a move back toward $65,000 becomes likely.
Short-term, momentum leans bearish while price keeps getting rejected from this trendline. A proper break and reclaim above it is needed to change that. If that happens, then $70K comes back into play.