Bitcoin risks falling to $ 65,000

Bitcoin is once again under pressure from geopolitical factors and the macroeconomic situation. Amid tensions around Iran, its rate dropped to $ 68,000, but analysts see this as a potential signal for new growth. On Friday morning, March 27, BTC was trading around $ 68,500, showing a slight recovery along with US stock futures.

According to Santiment, a sharp rise in pessimism among retail investors could be a classic counter-indicator. Social networks are filled with the terms «dip,» «pullback,» and «bloodbath,» which historically often signal the formation of a local bottom. Analysts emphasize that cryptocurrency prices often move in the opposite direction to the mood of the crowd.

Technical analysis also shows signs of stabilization. The support at $ 68,000 coincides with the 200-week EMA, and the RSI indicator has entered the oversold zone, indicating that sales are exhausted. The MACD is showing signs of a possible bullish crossover. This creates prerequisites for a recovery to $ 70,000 and a resistance test of $ 72,000.

Key technical characteristics of the current dynamics: current price is around $ 68,500; weekly decline — about 4%; main support — $ 68,000 and $ 60,000; resistance — $ 72,000-$ 75,000; potential target for bulls — $ 80,000; risk for bears — a decline to $ 65,000.

Thus, despite the short-term pressure, bitcoin is forming a classic counter-indicator scenario: investor pessimism can become the basis for a new stage of growth. If geopolitical tensions ease, BTC has a chance to return to levels above $ 70,000 and test key supply zones.