🚨 Bitcoin Price Flirts with Critical Support Levels as Bearish Momentum Builds: Will $62,450 Hold? 🚨

As Bitcoin hovers around critical support and resistance levels, the latest analysis reveals a mild consolidation phase with potential short-term declines on the horizon. 📉

🔍 Key Insights:

- Price Action: Currently trapped between $62,830 and $62,700, with immediate support at $62,664.01 and resistance at $62,720.01.

- EMA Convergence: The 9 EMA and 20 EMA are converging, indicating a sideways trend with a cautious outlook for bullish traders.

- MACD Momentum: Bearish momentum is intensifying, suggesting that sellers are gaining control.

- RSI Sentiment: Hovering around 46.25, indicating a neutral to slightly bearish sentiment.

💡 Trading Strategy: 

- Short Bias: Consider shorting BTC if it breaks below $62,664.01, targeting $62,450.27 for exit points.

- Long Trades: A confirmed breakout above $62,720.01 could present a long opportunity, but caution is advised due to current bearish signals. #BTC #Bitcoin $BTC