Bitcoin fell 3% as US sellers lifted BTC price targets below $65,000

Bitcoin (BTC) has fallen below $67,000 since the October 21 Wall Street open.

Traders consider the next BTC price reversal

Data from Cointelegraph Markets Pro and TradingView tracked a 3% BTC price loss on the day.

These followed the highest weekly close in five months for BTC/USD, and market watchers suggested that consolidation and support tests should now be in.

In one of his recent X posts, legendary trader Jelle called the weekly chart “primed,” saying, “The market sold off a little today as expected – and that's okay.”

BTC price predictions have included deep retracements, with the popular X-tag Emperor suggesting $62,000 may be seen again.

“The H6 55EMA and the high volume pocket between $66,000-500 should be a good place for support, shorts will take profits here and enter,” he told his followers.

The emperor has seen the 200-time moving average (EMA) on the 6-hour timeframe, currently around $63,300.

“Trends are memories, essentially self-fulfilling prophecies, but the middle and bottom of the trend has played a major role in Bitcoin's growth,” continued trader, analyst and commentator Josh Raffer.

“Looking at a retestable before high.”

Well-known analyst WhalePanda, on the other hand, expressed frustration over the US response to the Bitcoin attack, which hit $69,000.

“America with another amazing $2k piece of junk. I wonder where they get their bitcoins every day,” he replied.

Bitcoin should break $69,000 for more.

Recent data from wealth tracker CoinGlass showed BTC/USD eating away at bid-side liquidity as buyers added interest near $66,000.

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Analyzing liquidity conditions on the largest global exchange, Binance, trading resource Material Indicators described Bitcoin as “having a flash sale”.

In a separate X chat, co-founder Keith Allan emphasized that bulls have a chance to challenge all-time highs in March with candles closing above $69,000.

He wrote earlier in the day, “There is heavy demand liquidity stacked above $70k, but don't overlook the importance of historical and technical resistance at the 2021 high.”

“We'll see some high wicks, but I don't expect a sustained run into ATH territory without full candles printing over $69k.”

This article does not contain investment advice or recommendations. Every investment and business activity involves risk, and readers should do their own research when making a decision.