Bitcoin's Support Zone Under Fire: Will $62K Hold or Send Price to $60K?

Bitcoin's recent price action has been closely watched as it tests a crucial support zone. The digital asset is currently trading near $63,459 after failing to hold above $65,000, leading to uncertainty surrounding its next move.

The charts point to a possible rebound if buyers defend the $62,000-$65,000 range, but a rejection near $65,000 could send Bitcoin toward $60,000. Analysts are closely monitoring the situation as it unfolds.

Kaz's chart shows Bitcoin rebouncing toward a resistance zone between roughly $64,500 and $65,000 ahead of the Federal Reserve decision. The analyst expects Bitcoin to form a lower high in that area before falling toward $60,000 to $62,000.

The key support zone is proving to be a critical test for Bitcoin's price action, with a sustained rebound above $65,000 improving the short-term structure and potentially bringing resistance near $67,100 into focus.