# Bitcoin Targets 70,686 as Bearish Trend Continues

> Bitcoin price expected to drop to 70,686 USD after failing to hold above 84,000.
- Title: Bitcoin Targets 70,686 as Bearish Trend Continues | Shortify
- Summary: Bitcoin price expected to drop to 70,686 USD after failing to hold above 84,000.
- Keywords: bitcoin, bearish, btcusd, tradingview, bitstamp, fibo, support, resistance
- Source: TradingView — https://tradingview.com/chart/BTCUSD/I6NznDnm-BTCUSD-Bearish-Continuation-Target-Near-70-686
- Published: 2026-11-06T16:16:49+00:00
- Read time: 1 min
- Topics: bitcoin, bearish, btcusd, tradingview, bitstamp, fibo, support, resistance, business, finance
## Bitcoin Trading at 75,606
Bitcoin is currently trading at approximately 75,606 usd on the daily chart.
## Bearish Continuation Pattern
Price action completed a pullback toward the upper boundary of the descending parallel channel.
## Fibonacci Retracement Zone
Recent minor relief bounce found a ceiling within the 38.20% to 61.80% fibonacci retracement pocket.
## Short Entry Zone
Look for short entries on intraday retests into the 75,500, 76,500 usd region.
## Take Profit Targets
Take profit 1 at 73,492 usd and take profit 2 at 70,686 usd.
## Stop Loss Placement
Place a stop loss above 78,500 usd to invalidate the bearish setup.
## Key takeaway

Bitcoin is projected to fall to 70,686 USD as it struggles to maintain momentum above 84,000 USD.