Bitcoin Price Pain Isn’t Over Yet As Selling Pressure Persists
Summary
Bitcoin has fallen below the $65,000 zone and remains under bearish pressure after dropping under $64,000 and briefly below $62,500. It hit a low near $61,255 and is trading below the 100-hour simple moving average. Near-term recovery depends on holding above $61,200, with resistance around $63,200 and then $64,000. A close above $64,000 could open the way toward $65,500 and possibly $67,650. If BTC fails to reclaim $64,000, another decline is possible, with support at $62,000, then $61,200, $60,800, and $60,200. The main support sits at $60,000. Technical signals remain weak, with MACD in bearish territory and RSI below 50.
