Bitcoin is trading above $64,000 to start the week, but it remains stuck below all three major moving averages — a clear sign that sellers still have the upper hand. The broader trend turned negative last week after Bitcoin fell nearly 4%, Ethereum dropped roughly 2%, and XRP shed about 6%. This week's open is calmer, but the technical picture hasn't improved much.
What the charts are saying
Bitcoin is currently below its 50-day exponential moving average at roughly $69,106, the 100-day EMA near $72,123, and the 200-day EMA around $77,748. Being under all three is textbook bearish territory. The last rally broke a rising trendline that now acts as resistance around $74,238 — meaning any bounce from here has a tough ceiling to crack.
The Relative Strength Index (RSI) has recovered from deeply oversold levels into the high-40s. That suggests the intense selling pressure has eased, but it's not yet a bullish reversal. The MACD indicator is still in positive territory, which gives a slight tailwind, but it's not enough to flip the trend on its own.
Key support and resistance levels
Bitcoin's first major support sits at $64,005. A decisive break below that could accelerate the downtrend and open the door to lower levels. On the upside, reclaiming the 50-day EMA at $69,106 is the first step toward regaining bullish momentum. After that, the 100-day EMA at $72,123 and the 200-day EMA at $77,748 are the next hurdles.
Ethereum is holding the critical $1,700 support level for now. If that breaks, the next floor is unclear. XRP is consolidating near $1.13 after last week's 6% drop — not a breakdown, but not a recovery either.
What to watch this week
The start of the week shows stability across the three majors, but stability after a decline doesn't equal a reversal. Bitcoin needs to reclaim at least the 50-day EMA to change the narrative. Until that happens, the path of least resistance is lower. The $64,005 support is the line in the sand — traders will be watching whether it holds or gives way.
