Bitcoin Treads Water Near $63k Amid Rising Overhead Resistance
Bitcoin continues to hover around $63,109.62 as altcoins decline. According to Michaël van de Poppe, Bitcoin's price has failed to hold above its 21-day moving average (MA), increasing the likelihood of a downward sweep.
The last day of the month still sees BTC trading above $60K, securing a higher low and validating the bullish divergence that supports a patient accumulation stance over the next six to twelve months.
Bitcoin's price is currently contained within its Bollinger Bands, with resistance at $65,329.38 and support at $62,456.01. However, the bearish EMA50 at $64,111.99 and EMA200 at $63,862.79 act as significant overhead resistance.