Bitcoin

Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) dipped below $67,000 after the Oct. 21 Wall Street open amid “expected” United States sell pressure.
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 <img alt="Bitcoin drops 3% as US sellers spark sub-$65K BTC price targets" src="https://s3.cointelegraph.com/uploads/2024-10/0192afb0-7fdc-7fdd-8e35-f4b4ba3f765e" title="">
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 BTC/USD 1-hour chart. Source: TradingView
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<h2 id="traders-consider-deeper-btc-price-pullback-next">Traders consider deeper BTC price pullback next</h2>
Data from <a data-ct-non-breakable="null" href="https://subscription.cointelegraph.com/?_gl=1*7499wx*_ga*MTQ0MzQ0NzI4Ny4xNzE2MzY1NTA0*_ga_53R24TEEB1*MTcxNjM2NTUwNC4xLjEuMTcxNjM2Njg2MC4wLjAuMA.." rel="" target="_self" text="null" title="https://subscription.cointelegraph.com/?_gl=1*7499wx*_ga*MTQ0MzQ0NzI4Ny4xNzE2MzY1NTA0*_ga_53R24TEEB1*MTcxNjM2NTUwNC4xLjEuMTcxNjM2Njg2MC4wLjAuMA..">Cointelegraph Markets Pro</a> and <a data-ct-non-breakable="null" href="https://www.tradingview.com/symbols/BTCUSD/?exchange=BINANCE" rel="nofollow noopener" target="_blank" text="null" title="https://www.tradingview.com/symbols/BTCUSD/?exchange=BINANCE">TradingView</a> tracked 3% BTC price losses on the day.
These followed the highest weekly close in five months for BTC/USD, and market observers suggested that consolidation and support retests should now enter.
“Market selling off slightly today, as expected - and thats okay,” popular trader Jelle <a data-ct-non-breakable="null" href="https://x.com/CryptoJelleNL/status/1848347265322152381" rel="null" target="null" text="null" title="null">wrote</a> in one of his latest X posts, calling the weekly chart “primed.”
BTC price forecasts included deeper retracements, with popular X account Emperor suggesting that $62,000 may reappear.
“H6 55EMA and high volume pocket between $66,000-500 should be a good area to watch for support, shorts will take profit here and should,” it <a data-ct-non-breakable="null" href="https://x.com/EmperorBTC/status/1848373380569030663" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/EmperorBTC/status/1848373380569030663">told</a> followers.
Emperor also eyed the 200-period exponential moving average (EMA) on 6-hour timeframes, currently around $63,300.
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 <img alt="Bitcoin drops 3% as US sellers spark sub-$65K BTC price targets" src="https://s3.cointelegraph.com/uploads/2024-10/0192afab-2467-7d67-bc66-9b7565192af0" title="">
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 BTC/USD chart. Source: Emperor/X
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“Trends are memes, mainly self-fulfilling prophecy but the mid-lone and bottom of the trend actually played significant for bounces for Bitcoin,” trader, analyst and commentator Josh Rafer <a data-ct-non-breakable="null" href="https://x.com/Rager/status/1848359987191394380" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/Rager/status/1848359987191394380">continued</a>.
<blockquote>
 “Watching for a potential re-test before higher.”
</blockquote>
<figure>
 <img alt="Bitcoin drops 3% as US sellers spark sub-$65K BTC price targets" src="https://s3.cointelegraph.com/uploads/2024-10/0192afab-a9da-7779-a17a-94caccc33f3c" title="">
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 BTC/USD 1-day chart. Source: Josh Rager/X
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Well-known commentator WhalePanda, meanwhile, vented frustration at the US reaction to Bitcoin’s attack of $69,000.
“US with another impressive $2k dump. Got to wonder where they keep getting the Bitcoin from to dump every day,” he <a data-ct-non-breakable="null" href="https://x.com/WhalePanda/status/1848363951353974799" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/WhalePanda/status/1848363951353974799">responded</a>.
<h2 id="bitcoin-needs-to-flip-69-000-for-higher">Bitcoin needs to flip $69,000 for higher</h2>
The latest data from monitoring resource CoinGlass showed BTC/USD eating through bid-side liquidity as buyers added interest closer to $66,000.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/lowest-search-interest-since-2020-5-things-bitcoin-this-week" rel="" target="_self" text="null" title="https://cointelegraph.com/news/lowest-search-interest-since-2020-5-things-bitcoin-this-week">Lowest search interest since 2020 — 5 things to know in Bitcoin this week</a>
<figure>
 <img alt="Bitcoin drops 3% as US sellers spark sub-$65K BTC price targets" src="https://s3.cointelegraph.com/uploads/2024-10/0192afac-7aa3-75f7-9567-10f3925c9137" title="">
 <figcaption style="text-align: center;">
 BTC liquidation heatmap (screenshot). Source: CoinGlass
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</figure>
Analyzing liquidity conditions on the largest global exchange, Binance, trading resource Material Indicators&nbsp;<a data-ct-non-breakable="null" href="https://x.com/MI_Algos/status/1848372249323057437" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/MI_Algos/status/1848372249323057437">described</a>&nbsp;Bitcoin as “having a flash sale.”
In a separate X discussion, co-founder Keith Alan stressed the need for full candles to close above $69,000 for bulls to have a chance at challenging the March all-time highs.
“There is indeed heavy ask liquidity stacked above $70k, but don’t overlook the significance of historical and technical resistance at the 2021 Top,” he <a data-ct-non-breakable="null" href="https://x.com/MI_Algos/status/1848310293157327014" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/MI_Algos/status/1848310293157327014">wrote</a> earlier in the day.
<blockquote>
 “We may see some high wicks, but I don’t expect a sustainable run to ATH territory without full candles printing above $69k.”
</blockquote>
<figure>
 <img alt="Bitcoin drops 3% as US sellers spark sub-$65K BTC price targets" src="https://s3.cointelegraph.com/uploads/2024-10/0192afad-20f1-7d63-8020-7c4f29271112" title="">
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 BTC/USDT order book liquidity for Binance. Source: Material Indicators/X
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This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin drops 3% as US sellers spark sub-$65K BTC price targets

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