Bitcoin Stalls at $64K as Late-Stage Bear Signals Mount

Bitcoin's price action has been consolidating in the $63,000-$65,000 range, struggling to regain momentum after a recent pullback. The cryptocurrency is facing late-stage bear signals, which suggest that selling momentum may be nearing exhaustion.

Late-stage bear signals are typically seen when technical indicators such as Relative Strength Index (RSI) and moving average convergence divergence (MACD) show oversold conditions and a bearish crossover, respectively. In this case, the RSI has been hovering near oversold territory, while the MACD has shown a bearish crossover with a flattening histogram.

The $66,800 level is a critical pivot point for Bitcoin, as a break above it could invalidate the bearish setup and potentially drive the price higher. On the other hand, a rejection of this level could accelerate downside pressure, driving the price towards $60,000 or lower.