BTC falls below 70,000! Above 71,000 is full of liquidation traps. Can the 65,000 level hold?

First, let's talk about the macro and fundamentals—no need to discuss some so-called digital gold.
Current trend: Bearish dominance, the 70,000 level has been broken, 4-hour moving averages are all bearish crosses, highs are moving lower, and lows are being refreshed.
Bull trap confirmation: 71,999 just one point short of 72,000, trapping late buyers.
Liquidation cascade: The 70,000–72,000 range is a dense zone of liquidations, with forced liquidations of long positions triggering chain reactions downward.
Can 66,000 hold? Likely not. Currently, it's weak support—if volume increases and it breaks, look directly at 65,000.
Key levels:
Resistance: 68,500–69,500, 70,000 (strong resistance)
Support: 66,200 (current), 65,000, 60,000 (strong support)
Trading strategy: Focus on shorting rebounds, wait for 65,000 to stabilize before considering bottom fishing.
If you've been liquidated and haven't received your rebate, that's really adding insult to injury. For those with established trading habits, rebates are just an easy extra profit. Whether to participate or not depends on whether you already know how to trade this asset.
Event link: