Bitcoin (BTC) Price Analysis

#Bitcoin(BTC) confirmed its bearish outlook by staying below the 50-day and 200-day EMAs. A break above the 200-day and 50-day EMAs could open a run at the $60,365 resistance level. A break above the $60,365 resistance level could also open the $64,000 resistance level.

In addition, a drop below $57,500 could signal a drop to the $52,884 support level. With a 14-day RSI of 48.68, $BTC could drop below $55,000 before entering the oversold zone.