🟡Bitcoin’s price has entered a downward correction from the $65,000 resistance zone. BTC may retrace to $61,750 before initiating a new upward move in the near term. Technical indicators suggest a bearish trend, with key support levels at $62,200 and $61,750, and resistance at $63,500 and $64,000.
🟡Currently, Bitcoin is trading below $63,500 and the 100-hour simple moving average. The ongoing price action indicates a potential continuation towards the $61,750 support zone, aligning closely with the 50% Fibonacci retracement level of the upward wave from the $58,572 low to the $64,950 high.