⭐ BTC Today's Market Update

Bitcoin daily chart closes bearish, and the price breaks below the 0.5 Fibonacci support with increased volume, indicating short-term weakness. However, this morning's close is above 62,200, meaning that although the short-term trend is weak, it hasn't completely collapsed. Today’s key level is 63,200; if it can hold above, there is still potential for a rebound. If it strongly recovers back above 63,700, there’s a chance to challenge the high of >67,200. But if it drops below 60,755 today, then 67,200 becomes the top of this wave, and the market will start looking for support, with a conservative target of 57,700.
The 4-hour chart is clearer: declining volume on rebounds and decreasing volume on drops. Yesterday’s large bearish candle has cleared most of the short leverage. Currently, the moving averages are in a death cross, indicating a generally bearish trend. The lower 4-hour support zone is at 60,755, which is a mid-term defense level, while a more immediate short-term support is yesterday’s low at 62,050—this is the low point area of the 4-hour structure. Once it is effectively broken and confirmed with a close, the structure will continue to be dominated by a bearish trend downward.
There is disagreement as spot buy orders entered during yesterday’s decline, providing some short-term support.

Upper resistance: 63,200-63,700
Lower support: 62,000-60,755

Today’s outlook: Slightly volatile, watchful. Currently, the bulls and bears are still fighting—order book buy/sell ratio is 0.35 (heavy sell pressure), but active taker transactions are at 1.42 (buy orders pushing up), large holders’ long/short ratio is 1.20 leaning bullish, ETF net inflow is $68.22 million leaning bullish. These three dimensions are resonating bullishly. However, shrinking volume and data suppression make the direction uncertain.