$BTC Update: Bears Take Control



Bitcoin has now lost the $64,000 support, and more importantly, it has slipped below the 15m MA200, which was supporting the short-term bullish structure.

As we discussed this morning, losing $64K would likely shift the focus toward the $63.2K–$62K support zone. That's exactly what the market is starting to do.

We were also watching for rejection around $65.6K. While BTC only managed to reach $65.1K, the rejection still played out and sellers stepped back in before bulls could reclaim resistance.

📊 Current Structure

➡️ $64K support has been lost.
➡️ Price is trading below the 15m MA200, weakening short-term momentum.
➡️ Bears remain in control unless BTC quickly reclaims $64K–$64.5K.

🎯 Key Levels

➡️ Immediate Support: $63.2K
➡️ Major Support: $62K
➡️ Resistance to Reclaim: $64K–$64.5K

⚠️ Risk Management

If you're already in a short position, consider moving your stop-loss to your entry price once BTC reaches around $63.6K. That way, you lock in the trade and eliminate risk while letting the position run if downside momentum continues.

The reaction around $63.2K–$62K will be crucial. If buyers fail to defend that zone, the correction could extend even further.
BTC1.70%
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