Bitcoin
Bitcoin stabilizes at $63,567 after defending $62,300 support
Bitcoin recovered above $63,500 after holding a support level near $62,300, though price remains beneath all major moving averages.
Bitcoin stabilised on Friday, trading around $63,567 after buyers defended support near $62,300 on Thursday. The recovery indicates active buying interest at lower levels, but the price continues to trade below the 50-day, 100-day and 200-day exponential moving averages, which form a resistance zone between $64,488 and $72,035.
Momentum indicators suggest limited near-term strength. The Relative Strength Index stands near 46, slightly below the neutral 50 level, while the Moving Average Convergence Divergence remains negative. This combination indicates that downside pressure has eased but sellers retain a slight edge and stronger buying volume is needed to confirm a sustained recovery.
For a meaningful rebound, Bitcoin would need to reclaim the 50-day EMA at approximately $64,488 before challenging higher resistance. A daily close above this level would target the 38.2% Fibonacci retracement near $65,547, followed by denser supply between $66,500 and $66,604 where sellers may mount stronger defence. The broader trend remains bearish despite the recent support hold.
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