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B3bit

06/19 13:25Bullish

Price analysis: Bitcoin falls as technicals weaken

#World Cup Predictions: 100,000 USDT Daily #BTC Prophet: 20-Day 380 Million HTX Challenge #HTX Creation Challenge — Post and Win 1,500U 💥 Price analysis: Bitcoin falls as technicals weaken Bitcoin trades at above $62,500, keeping a bearish near-term tone as it sits beneath a dense band of moving average resistance. The spot price remains below the 50-day Exponential Moving Average (EMA) at $69,715 the 100-day EMA at $72,610 and the 200-day EMA at $77,977, suggesting rallies are likely to be capped while these levels stay overhead. The Bollinger Bands show BTC trading below the midline at $64,549, with the upper band much higher at $70,812, underscoring a corrective structure. Meanwhile, the Moving Average Convergence Divergence (MACD) histogram is in positive territory on the daily chart, while the Money Flow Index (MFI) near 54 signals neutral-to-firm buying interest. On the topside, initial resistance lies at the Bollinger midline band around $64,549, followed by the 50-day EMA near $69,715 and the Bollinger upper band close to $70,812. Beyond that level, the 100-day EMA at $72,610 and the 200-day EMA near $77,977 form a broader bearish barrier that would need to be reclaimed to negate the current downside bias. Looking down, the first notable support lies at $60,000, a psychological level, followed by the Bollinger lower band at roughly $58,287, where buyers could attempt to stabilize the decline if selling pressure resumes.
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