Bitcoin is down 1.7% to $61,658, continuing its downtrend. The moving averages are bearish: MA7 at 62,233, MA25 at 71,044, and MA99 at 72,934 — all far above price, acting as strong resistance. Volume is extremely light, well below both the MA(5) and MA(10) averages, indicating very weak participation. Key resistance is at MA7 ($62,233) and then $63,100. Support is at $57,963 and then $55,000. The chart shows a steady decline from highs near $83,646. Momentum is bearish. A bounce off support could offer a scalp opportunity, but with low volume and a persistent downtrend, catching a falling knife is risky. Not a buy zone. Wait for a reclaim of $63,000 with volume.@BTC #BTC $BTC
BTC
63,496.3
+2.88%
ETH
1,679.78
+3.44%
BNB
604.26
+3.02%
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