Bitcoin Tests Lower Bollinger Support Amid Soft Inflation

Bitcoin (BTC) has returned to its recent range of around $63,000 despite a softer US inflation backdrop. This development reinforces last week's theme that Bitcoin's resilience remains but momentum has been harder to find.

The price action on the 4-hour chart shows BTC testing the lower Bollinger support at $62,853.41. The EMA50 and EMA200 continue to cap upside as concrete resistance, while the MACD death cross keeps the bearish structure dominant.

The Relative Strength Index (RSI) is currently sitting at 33.0, which suggests that any bounce attempt will likely stall before sustained continuation higher can occur.