$BTC recent price analysis shows it has tested the lower boundary of its established range between $64,602 and $72,000 on June 18. The lack of a strong rebound from this support level suggests continued selling pressure from bears.
With the 20-day exponential moving average currently at $67,249 and the relative strength index (RSI) below 40, the market momentum favors the bears. A breach of the $64,602 support level could potentially push the BTC/USDT pair down to $60,000.
Nevertheless, the bulls are expected to defend the $64,602 support level vigorously. A reversal from the current price level, coupled with a move above the 20-day EMA, would indicate the beginning of a strong recovery phase. In such a scenario, the pair could target a climb towards $70,000.
