BTC/USD
The rate of Bitcoin (BTC) has fallen by 0.32% over the last day.
On the hourly chart, BTC is on the verge of breaking the local support level at $64,809. If this occurs, it could generate enough momentum for a deeper decline, potentially reaching the $64,000 zone by tomorrow.
On the larger time frame, sellers continue to exert pressure, with no reversal signals yet. Currently, attention should be given to the interim level of $64,000.
If the decline continues and the daily bar closes near or below this level, traders might expect a test of the $63,000 mark soon.
From a midterm perspective, traders should focus on the previous bar’s low at $65,000. If the candle closes below this level, a drop to the $60,000-$62,000 range is possible.
As of press time, Bitcoin is trading at $64,805.