đ Bitcoin Price Watch: What's Happening? đ
Bitcoin's price has taken a dip, dropping below the crucial $64K mark and the 200-day moving average. Currently, it's holding steady at the $60K support level, but with the RSI below 50%, there's a bearish momentum in play. đ
đ Technical Insights
On the daily chart, BTC's fall below $64K is significant. The 4-hour chart shows a bearish trend, but the price has bounced from $60K, indicating oversold conditions. A deeper correction toward $57K seems likely unless BTC can reclaim $64K soon.
đ On-Chain Analysis
Despite the drop, open interest in BTC futures remains high, suggesting no major liquidation yet. However, a further decline could trigger a market crash, pushing prices toward $50K.
Stay tuned, Bitcoiners! đ
