- Price Analysis: Bitcoin Short-Term Gains Wane:


Bitcoin is currently trading at $63,471, maintaining a short-term downtrend, as its price remains clearly below all major exponential moving averages. The 50-day EMA is at $71,383, the 100-day at $73,811, and the 200-day at $79,062, all significantly above the current level, indicating that potential upward moves will face resistance rather than boost the bullish trend, while the SuperTrend line at $68,416 confirms a ceiling above the current price.

Momentum remains fragile, with the Relative Strength Index (RSI) hovering near 33 on the daily chart and slowly recovering from oversold territory, and the Moving Average Convergence Divergence (MACD) chart remains negative despite decreasing downside pressure.

Daily BTC/USDT Chart
On the bullish side, initial resistance is at the super trend barrier near $68,416, followed by the 50-day EMA around $71,383, and the 100-day EMA near $73,811. To ease immediate downside pressure, a daily close above this price range is required, while the 200-day EMA around $79,062 presents a strategic obstacle.

On the bearish side, focus is currently on recent lows around $61,056 and $60,885 as potential next demand zones. Breaking this range would lead to further decline and keep Bitcoin in a corrective phase, regardless of any short-term rebounds in oversold areas.
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Before00zero
· 7h ago
Bitcoin is trading at around $63,500 with its rally halted amid five consecutive days of outflows from exchange-traded funds.
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