Bitcoin's price has resumed its decline, moving lower and potentially even below the $65,500 support zone. The cryptocurrency failed to climb above the $67,000 resistance zone and started a fresh decline from the $66,868 high.

The price is currently trading below $66,800 and the 100 hourly Simple moving average. There was a break below a connecting bullish trend line with support at $66,500 on the hourly chart of the BTC/USD pair. The pair could continue to move down and even trade below the $65,500 support zone.

Bitcoin's price struggled to climb above the $67,000 resistance zone and remained in a bearish zone. The price moved below the $66,500 level and the 23.6% Fib retracement level of the upward move from the $65,075 swing low to the $66,868 high.

On the upside, the price is facing resistance near the $66,500 level and the 100 hourly Simple moving average. The first major resistance could be $66,850, followed by $67,000. A clear move above the $67,000 resistance might start a decent increase and send the price higher.

If Bitcoin fails to climb above the $66,500 resistance zone, it could continue to move down. Immediate support on the downside is near the $66,000 level. The first major support is $65,750, followed by $65,500. Any more losses might send the price toward the $65,000 support zone in the near term.

Technical indicators suggest that the price could continue to decline. The hourly MACD is now gaining pace in the bearish zone, and the hourly RSI (Relative Strength Index) is below the 50 level.