Bitcoin fell below $69,226 following a sharp decline during the European trading session on Friday, November 13, hitting a low of $67,500. This level coincided with the lower band of the downtrend channel that had formed since late October, and Bitcoin is now rebounding, which could pave the way for a recovery in the coming days.

If Bitcoin re-tests $67,500 in the coming hours, or if the price consolidates above the Murray 2/8 level—which now acts as strong support around $68,750— this could be considered a buying opportunity, with targets at the 21-day simple moving average (SMA), around $72,867.

A pullback in Bitcoin toward $68,750 or $67,000 is considered a positive buy signal, as the Eagle indicator has reached extremely oversold levels and is generating a positive signal; however, we should still wait for consolidation around $68,000 before opening long positions.

Our outlook remains bullish for the coming days; therefore, as long as the price trades above the Murray 2/8 level, it will be considered a buying opportunity with targets at $72,867 and at the Murray 4/8 level, around $75,000.

A consolidation below today's low of around $67,500 could change the outlook for Bitcoin, and we could see a strong downtrend continue, reaching $65,000 and possibly even the psychological level of $60,000.