#Bitcoin price has been struggling to break past the $72,000 resistance level for the last four months.
After failing to hold above $68,500, the cryptocurrency has been showing bearish signals below $67,200.
All eyes are on the upcoming release of the US Bureau of Labor Statistics' Consumer Price Index (CPI) data set for Wednesday.
At the same time, the US Federal Reserve will release its FOMC statement, economic projections, and interest rates, sparking market worries.
Bitcoin's price could be forming a double top pattern, suggesting possible bearish momentum continuation.
This pattern suggests a possible pullback to the lower end of Bitcoin's trading range, around $60,000.
According to Coin Gabbar analysis, If Bitcoin stays above $66,000, it might surpass $72,000 and target its previous all-time high near $74,000, potentially reaching Fibonacci extension levels of up to $78,300.
Conversely, a drop below $66,000 might find support around $65,000 or $63,000, potentially leading to further decline towards the $60,000 mark.
KEY LEVELS :
RESISTANCE LEVEL : $67,600-$68,500
SUPPORT LEVEL : $65,800-$64,600
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