Bitcoin Running Out Of Road?Bitcoin / TetherUSBINANCE:BTCUSDTDukesMarketAnalysisDaily Trend Remains Bearish • Bitcoin continues to print a clear series of lower highs and lower lows. • The broader structure remains firmly bearish, with every rally so far failing to alter the trend. Key Support Lost • Price has now broken below the daily 0.618 Fibonacci level around $71,800. • Losing that support removes an important technical level and increases the likelihood of further downside. Selling Pressure Increasing • Selling volume has picked up noticeably during the latest decline. • The recent move lower is attracting more participation than the latest bounces, suggesting sellers remain firmly in control. Momentum Remains Weak • RSI has fallen into oversold territory, reflecting strong downside momentum. • Stoch RSI is also oversold, which may lead to a short-term relief bounce, but currently offers little evidence of a meaningful reversal. Next Level In Focus • The 0.786 Fibonacci retracement around $68,800 is now the next major area of support. • If that level fails to hold, attention would likely shift towards the March swing low near $65,000. Moving Averages Still Against Bulls • The 100/50-Day EMAs remain bearishly crossed and continue to act as resistance. • Until price can reclaim those averages, rallies may continue to be viewed as selling opportunities. In Summary Bitcoin's decline continues to gather momentum. The loss of the daily 0.618 Fib level, strengthening selling volume, oversold momentum indicators, and bearishly crossed moving averages all support the bearish case. While oversold conditions could produce a short-term bounce, the overall structure remains weak. Unless bulls can reclaim key resistance levels and reverse the lower-high, lower-low sequence, the path of least resistance continues to point towards the $68,800 support area.