📉 Chart of the Day: Bitcoin Targets $60,000 as Downtrend Strengthens
Bitcoin (BTC) is trading near $63,261, remaining firmly below its 50-, 100-, and 200-day EMAs, all of which are sloping downward — confirming a dominant bearish trend. Momentum indicators show fading recovery strength as sellers keep control.
Key Highlights:
🔻 BTC trading under all major EMAs → strong downtrend confirmation
📉 Descending resistance from $126,199 continues to cap upside
⚠️ MACD positive but histogram contracting → rebound losing steam
🧊 RSI near 30 → weak territory, persistent selling pressure
🟡 Immediate support: $63K – $62.9K
🎯 Major downside target: $60,000
Expert Insight:
Unless BTC reclaims $65,118 (Feb 12 low resistance), bearish structure remains intact. A break below $62.9K could accelerate downside momentum toward the critical $60K support zone.
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