Bitcoin's price has failed to refresh its historical high, first breaking below the $72,500 area and continuing to decline.

Its price has broken through the support levels of $71,500 and $70,000, and even dropped below $68,500, testing the low of $67,500, reaching a minimum of $67,483, and is currently attempting to rebound.

At present, the price has surpassed the resistance level of $68,500 and has broken through the 23.6% Fibonacci retracement level in the downward trend from the high of $73,576 to the low of $67,483.

On the hourly chart of BTC/USD, the price broke through the bearish trendline, with $68,300 currently acting as a resistance level.

At this stage, the price of Bitcoin is below $70,000 and the 100-hour simple moving average.

From a bullish perspective, the price may encounter resistance near $69,500, which is close to the 50% Fibonacci retracement level in the downward trend from the high of $73,576 to the low of $67,483.

The first key resistance level is around $70,000; if the price can significantly break through this resistance level, it may push the price higher, with the next key resistance level likely around $71,200.$BTC $ETH $BNB