Bitcoin is in the vicinity of $6.35 million this week. It shows that the $62,300 line is connected, driving prices up from the low, but the BTC is still below a number of critical averages, and the continuation of short-line repairs is still dependent on a breakthrough in the upper resistance zone.
62,300 dollars is temporarily critical.
On Thursday, bitcoin stopped falling near $62,300 and then went back to about $63567. This position continues to be an important reference point for short-line trends, indicating that buys are still in the vicinity below the zone.
However, in terms of trend structure, the BTC is still below the 50-day, 100-day and 200-day movement mean. These average lines are broadly distributed between $64,488 and $7,2035, and still have more intense resistance above prices.
RSI and MCD display kinetic weakness
The relative strength and weakness index RSI is about 46 and is still below the neutral level 50, indicating that the seller ' s advantage has not fully receded. While downside pressures have eased somewhat over the previous days, market dynamics have not significantly increased.
MACD also remains below the zero axis, which suggests that this round-up is more of a fixer than a confirmed reverse. Short-line fixes can only be expanded if the subsequent purchase is enhanced and RSI returns to above 50.
64488 to 66604
The current main resistance position is near the 50-day average, which is approximately $64488. If the solar line is repositioned at this position, Bitcoin may continue to explore the vicinity of $65547.
On top of that, a horizontal resistance of $66,500 a line, which creates an overlap area near the 100-day average of $66604, could become a key defensive area for the sale. If prices continue to break, the next target will be near $67940.
On the bottom side, the initial support in the vicinity of $62586 remains critical at $62,300. If the solar line breaks this position, the short-line rebound structure may be damaged, market or retest a larger support area near $57800.