- Price Analysis: Bitcoin Holds a Key Support Level Amid Ongoing Pressure


Bitcoin is trading above $64,000, maintaining a limited trend as it remains below the 50-, 100-, and 200-day exponential moving averages (EMAs), despite improving momentum indicators. The Moving Average Convergence Divergence (MACD) indicator remains positive on the daily chart, while the Money Flow Index (MFI) hovers just below the neutral 50 level, suggesting potential bullish attempts, but they are still constrained by the prevailing trend levels.

Daily chart of the BTC/USDT pair
The initial resistance level lines up with the 50-day exponential moving average near $70,062, followed by the 100-day exponential moving average around $72,838, and then the more significant 200-day exponential moving average near $78,241—together forming a broad range that must be reclaimed to ease the overall bearish pressure. On the downside, the first notable support appears around the Parabolic SAR indicator level at $62,149, where a break below could trigger a deeper corrective phase toward lower levels.
$BTC
BTC1.77%
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