The price of Bitcoin has been on a wild ride, leaving investors on edge. After dipping below $64,500, the cryptocurrency is struggling to regain its footing. Despite a minor recovery, Bitcoin remains in a bearish zone, with its price hovering below the 100 hourly Simple Moving Average.

According to market analysts, the price of Bitcoin is facing significant resistance around the $65,500 level, with the trend line forming a formidable barrier. If the price fails to break through this resistance, it could lead to further losses, with the next support level at $64,200.

However, if Bitcoin manages to surge past the $65,400 resistance zone, it could trigger a decent increase, sending the price higher. In this scenario, the price could test the $66,500 resistance, with further gains potentially pushing it towards the $67,500 resistance in the near term.

The technical indicators are also flashing warning signs, with the Hourly MACD losing pace in the bearish zone and the Relative Strength Index (RSI) hovering around the 50 level.

While some analysts predict a massive jump to $127,000, others are more cautious, warning of further losses. With institutional investors pulling $600 million out of crypto funds, the market is increasingly volatile.

As the price of Bitcoin continues to fluctuate, investors are left wondering what's next. Will it plummet further or make a comeback? Only time will tell.