- Price Analysis: Bitcoin Regains Momentum:


Bitcoin is trading near $63,000, indicating a continuation of the bearish phase, with the price settling below the dense moving average resistance range. The 50-day exponential moving average (EMA) stands at $71,677, the 100-day at $4,003, and the 200-day at $79,330, all above the current price, suggesting that the overall trend remains under downward pressure.

The latest SuperTrend indicator level at $68,416 confirms a support level, reinforcing the view that any recovery attempts will be limited as long as the price remains below this level. Momentum indicators are weak but divergent, with the Relative Strength Index (RSI) hovering near 30 on the daily chart, indicating oversold conditions. Meanwhile, the Moving Average Convergence Divergence (MACD) remains negative below the zero line on the same chart, aligning with the prevailing bearish momentum.

Daily BTC/USDT Chart
On the bullish side, initial resistance is at the SuperTrend barrier near $68,416, where a daily close above this level is required to ease immediate selling pressure. Upward, the 50-day exponential moving average at $71,677 and the 100-day at $74,003 form key next resistance levels, before a more strategic ceiling at the 200-day EMA around $79,330, which currently defines the upper limit of the broader corrective structure. If selling resumes, traders will look to re-enter at key psychological levels of $60,000 and $56,000.
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Before00zero
· 06-11 19:51
The price of Bitcoin has risen slightly toward the short-term resistance level of $63,000, while traders are ignoring the escalating geopolitical tensions amid ongoing gunfire exchanges between the United States and Iran.
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