$BTC Hits $63.8K – Downtrend Accelerating
Bitcoin is now trading at $63,820, down another -1.67% as selling pressure continues. Let's break down where we stand.
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📊 1-Hour Chart (Short-Term)
· Price: $63,853
· MA7: $64,432 → price below (resistance)
· MA25: $65,189 → far above
· MA99: $67,109 → lost
· 24h low: $63,433 — currently being tested
🔻 1H Takeaway:
Price is making lower lows. No reversal signal yet. Any bounce will face resistance at **$64,400** (MA7). If $63,400 breaks, next stop is $62,500.
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🐋 1-Day Chart (Big Picture)
· Price: $63,820
· MA7 (Daily): $66,511 → far below
· MA25: $69,532
· MA99: $84,659
📉 Daily Takeaway:
Daily MA7 is now major resistance. This is a confirmed breakdown. Next daily support is $60,000 psychological level. No signs of reversal yet.
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🎯 Key Levels Now
Timeframe Level What It Means
1H Support $63,433 24h low — break here opens $62.5k
1H Resistance $64,430 MA7 — first level to reclaim
Daily Support $60,000 Next major zone
Daily Resistance $66,500 Lost — now resistance
🧠 My Take
· Scalpers: Possible long bounce from $63,400, but extremely risky
· Swing traders: Wait for reclaim above $64,400 or let price settle
· Long-term: Downtrend is accelerating. Bottom fishing not advised until structure forms.
Called this breakdown days ago. Are you short, waiting, or catching falling knives?
$BTC #Bitcoin #BTCUpdate #Downtrend #BinanceSquare