Bitcoin's price fell more than 10% from its recent high on Thursday, hitting a low of $62,490 during the selloff. The cryptocurrency now trades below $65,000 and the 100-hour simple moving average, with a bearish trend line near $65,200 keeping sellers in control.
Key technical levels in focus
Resistance sits at $64,000 and $65,000, according to the latest chart data. On the downside, support holds at $62,000 and $60,000. A failure to stay above $62,000 could open the door to deeper losses — the next floors are $61,200 and $60,500. That $62,000 level has become the line traders are watching.
Momentum indicators flash red
The hourly MACD shows accelerating bearish momentum, and the Relative Strength Index remains below 50. Both readings confirm the downward pressure is real, not just a dead cat bounce. The trend line resistance near $65,200 has held for hours, making any quick recovery look unlikely unless buying volume picks up sharply.
What could break the slide
For now, BTC needs to reclaim $65,000 to calm the bears. But with the hourly charts stacked against it, the more pressing question is whether $62,000 can hold. A break below that level would likely trigger another leg down, targeting $61,200 and then $60,500. No major catalyst has emerged to reverse the move — the market is waiting for either a technical bounce or a further flush.
