Bitcoin Resists $68,500 Resistance Zone Amid Fifth Wave Drop Concerns

Bitcoin's price has been oscillating within a broader sideways structure, with the cryptocurrency currently trading at $66,827 near the $68,500 resistance level. The 507 million ETF inflows are also drawing attention from market participants.

The immediate resistance zone stands between $65,609 and $68,457, with price pressure building towards the $68,500 area, which aligns with the 100 period EMA on the four-hour chart. This level is acting as a technical barrier.

Technical indicators show moderate strength, with the relative strength index near 60 reflecting positive momentum. The MACD line remains above the signal line, and the histogram shows steady upside pressure. However, expansion remains limited while price stays below the 100 period EMA.