Bitcoin Rally Fades—Where Does Price Go Next?
Summary
Bitcoin failed to capitalize on weak U.S. jobs data that boosted expectations for a Fed pause and lower yields. Price briefly tested the 50-day EMA but fell back, leaving BTC near $64,261 and still below key resistance around $64,568. The broader chart remains bearish: a death cross persists, with lower highs and lower lows since the May peak near $80,000. Momentum is mixed-to-weak, with RSI neutral at 50, ADX showing a very weak trend, and directional signals still bearish. Prediction markets also lean cautious, favoring a drop toward $55K over a run to $84K. Near term, reclaiming $64,568 could open $66,921, while losing $62,216 would likely expose $60K and lower supports.
