# BTC breaks down, and the target is 66.9K

> A short call on BTC perpetuals after price cracked the Wave 4 floor, with CPI data lining up against the bulls.
- Title: BTC breaks down, and the target is 66.9K · TradingView
- Summary: A short call on BTC perpetuals after price cracked the Wave 4 floor, with CPI data lining up against the bulls. Losing the Wave 4 low flipped the read from…
- Keywords: bitcoin, technical analysis, elliott wave, cpi, trading, business, finance, BTC, breaks, target, TradingView
- Source: TradingView — https://tradingview.com/chart/BTCUSDT.P/f3dT3rCL-BTC-Bearish-Rate-Hikes-Expected
- Published: 2026-09-12T17:54:50+00:00
- Read time: 1 min
- Topics: bitcoin, technical analysis, elliott wave, cpi, trading, business, finance
## A short on BTC perps
HabixGroup posted a short setup on the Bitcoin / TetherUS perpetual contract on Binance, published as a bearish call on the chart.
## The Wave 4 floor gave way
Price dropped under the bottom of Wave 4. That break is the whole argument, and it flips the chart from constructive to bearish.

> Price broke below Wave 4 bottom so looking more bearish than bullish now
## CPI stacks the odds down
Inflation data lands on top of the broken structure. With rate hikes expected, the chart and the macro point the same way.

> Coupled with CPI data most probable direction is down
## Support at 66.9K to 70K
If the bearish case plays out, that band is where the drop is expected to find a floor. It is the level to watch, not a stop level to ignore.

> expecting support around 66.9K - 70K in bearish scenario
## Or it is wave 1 of a new run
The same count leaves room for the other read: this leg is wave 1 of a fresh bullish trend, which makes the 66.9K zone a buy area rather than a breakdown.

> Assuming this is wave 1 of a new bullish trend
## Not advice, just a chart
TradingView publications carry a standing disclaimer. Nothing here is financial, investment, or trading advice, and the platform does not endorse the call.
## Key takeaway

Losing the Wave 4 low flipped the read from bullish to bearish, and the next real support sits down at 66.9K to 70K.