The current Bitcoin price has surged from 63,567 and then pulled back, touching a low near 62,381. It found strong support at the Bollinger lower band at 62,338, then began a technical rebound. The current quote is 62,827, in the recovery phase after being oversold. Structurally, on the Bollinger bands, the price retested the lower band to halt the decline, with downward momentum weakening. The Bollinger lower band has flattened, opening up space for a rebound. In the short term, the support around 62,338 is effective. The price has exited the oversold zone. As long as the support holds, it is highly likely to challenge the Bollinger middle band at 62,933, continuing the rebound and recovery trend.

BTC-2.57%
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