Bitcoin Price Fluctuations and Expectations

Bitcoin, which has had difficulty rising above the $65,500 level recently, fell below $63,000, worrying investors. Experts warn that the downward trend may continue. Bitcoin is trading below the $64,500 resistance and it is also trading below the 100 hourly Simple Moving Average.

Bitcoin Price Challenges

According to technical indicators, critical resistance points for Bitcoin are at $64,500 and $65,500. If these resistances are not expected to be overcome, BTC is likely to decline further. On the other hand, the recovery from the $62,750 support zone caused a short-term rise in the price, but this rise was not permanent.

Loss Scenario in Bitcoin Could Drop Below $60,000

If Bitcoin fails to clear the $64,500 resistance level, the price could decline further and see below $60,000. While the immediate support is at $64,000, closes below $63,750 indicate that the price could decline to $62,750 and even lower #Bitcoin #BTC🔥🔥🔥🔥🔥🔥