- Price Analysis: Bitcoin Price Decline with Weak Technical Indicators:


Bitcoin is trading above $62,500, maintaining a short-term bearish trend due to being below a strong resistance zone from moving averages. The spot market price remains below the 50-day exponential moving average at $69,715, the 100-day EMA at $72,610, and the 200-day EMA at $77,977, indicating limited upside potential as long as these levels remain intact.

Bollinger Bands indicate that Bitcoin is trading below the middle line at $64,549, with the upper band at $70,812, confirming a corrective structure.
Meanwhile, the Moving Average Convergence Divergence (MACD) chart shows a positive trend on the daily chart, while the Money Flow Index (MFI) near 54 suggests neutral to strong buying interest.

Daily chart of the BTC/USDT pair
On the upside, initial resistance is at the Bollinger middle line around $64,549, followed by the 50-day EMA near $69,715, then the upper Bollinger band at approximately $70,812. Breaking this level, the 100-day EMA at $72,610 and the 200-day EMA near $77,977 form a broader bearish barrier that must be surpassed to invalidate the current downtrend.

Looking downward, the first notable support is at $60,000, a psychological level, followed by the lower Bollinger band around $58,287, where buyers may attempt to stabilize the decline if selling pressure resumes.
$BTC
BTC1.77%
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