$BTC BTC Showing Weakness Below Key Moving Averages

BTCUSDT is currently trading around $61,640 after a sharp rejection from the $64K area. The recent sell-off pushed price toward the daily low of $61,123, indicating that bears are still controlling short-term momentum.

Technical Analysis

Support Levels

Strong Support: $61,100

Major Support: $60,800

Breakdown Zone: Below $60,800 could open the path toward $60,000

Resistance Levels

Immediate Resistance: $62,150 - $62,300

Strong Resistance: $62,550 (MA10)

Major Resistance: $63,000 - $63,100 (MA30)

Indicator Analysis

Moving Averages

MA5: 62,140

MA10: 62,540

MA30: 63,069

Price is trading below all major moving averages, which signals short-term bearish pressure. The MA5 is also below MA10, confirming weakness in momentum.

MACD

MACD remains in negative territory.

DIF is below DEA.

Histogram is still bearish despite slight slowing in downside momentum.

This suggests sellers remain active, although a short-term relief bounce cannot be ruled out.

Market Sentiment

Current sentiment is Bearish.

The chart shows lower highs and lower lows on the 1-hour timeframe. Until BTC reclaims the $62,500-$63,000 zone, buyers remain on the defensive.

Trading Strategy

Recommendation: WAIT

Aggressive traders may look for a scalp entry only if BTC holds above $61,100 and shows strong bullish confirmation.

Safer traders should wait for:

A breakout above $62,550, or

A confirmed bounce from the $61,100 support zone with volume.

If support breaks, downside risk remains elevated.

Key Takeaway

BTC is sitting near an important support area. The next few candles will likely decide whether this becomes a recovery attempt or another leg lower.

What do you think? Will Bitcoin defend the $61K support zone, or are we heading toward $60K next?

NFA (Not Financial Advice). Always do your own research and manage risk properly.

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