Bitcoin has faced a price rejection at the $66,000 resistance level, which has led to a reversal in its recent bullish momentum. This level has proven to be a strong barrier, causing concerns about a potential pullback to the $59,000 to $60,000 support range. Analysts suggest that Bitcoin could see a downward retracement before any new rally begins. Currently, Bitcoin is forming a downward channel with lower highs and lows on the 2-hour chart, indicating a possible consolidation phase.

Read the full blog here: Bitcoin Rejected at $66K: Potential Pullback to $60K Expected