Bitcoin Rejects $68,000 Level, Bearish Momentum Looms

Bitcoin's attempt to break through to $68,000 has failed, and as a result, the daily momentum picture is now bearish. Despite this, the four-hour chart remains constructive, with valid Breakouts still in place.

The source notes that BTC failed to clear the final two resistance levels leading up to $68,000, and another pullback toward the Fast line is expected. This would be consistent with the four most recent retreats, and Thursday's close confirmed a bearish RSI Reset.

Ethereum, on the other hand, is struggling at TBO Resistance in a pattern similar to April and May. The setup is moving closer to an optimal short entry, but confirmation is still needed before building a significant ETH short position.