Bitcoin stalls below resistance as bearish signals build

Bitcoin hovered around $66,597 on March 31, trading in a tight range below key resistance levels as technical indicators pointed to a weakening market structure.

The cryptocurrency has been capped between $66,037 and $68,130, with all major moving averages sitting above the current price, reinforcing downside pressure and limiting breakout potential.

Analysts said a sustained move above $68,000 to $69,000 is needed to shift momentum, while a drop below $65,000 could signal further downside.

On the daily chart, Bitcoin has rolled over from a lower high in the mid-$70,000s, shifting from a bullish trend into a neutral-to-bearish posture.

Short-term charts show consolidation, with repeated rejections near resistance and weak follow-through on rebounds, indicating persistent selling pressure.

Momentum indicators remain subdued, with the relative strength index near 42 and other oscillators pointing to weak demand rather than capitulation.

Sentiment remains fragile, with the Crypto Fear & Greed Index in extreme fear territory, suggesting investors remain cautious as Bitcoin struggles to regain key technical levels.

At the time of reporting, Bitcoin price was $68,559.40.