Crypto
Bitcoin's $65,000 Rally Fails to Sustain Momentum
The recent surge in Bitcoin price to $65,000 was short-lived as it failed to sustain its rally.
Despite briefly reaching this milestone, the price stayed higher on the seven-day chart but bearish technical indicators persist.
On the four-hour chart, the current price of BTC is at $63,923.77, testing lower Bollinger support at $64,302.65 while being capped by EMA50 at $64,533.34 in a bearish structure.
This bearish trend is confirmed by MACD death cross at 32.48 and RSI at 35.61, indicating further downside pressure before any sustained move higher in BTC price.