BTC: Fails to Sustain Momentum Above $63K
BTC drops below $63K as market structure weakens; 4h chart shows bearish EMA50 at $64284 and MACD death cross at -490.8.
SourceAnalysis
BTC has failed to sustain momentum above the previous key low and $63K, leaving market structure weak until the daily low and support are reclaimed.
Since Friday price has respected the 2024 range and value area while sellers showed no follow-through below $60K, the 2024 value area low. On the 4h chart BTC trades at $61415.73 inside the Bollinger band with upper resistance at $64195.69; the bearish EMA50 at $64284.44 and EMA200 at $71529.3 act as concrete resistance while RSI at 40.63 stays neutral and MACD death cross at -490.8 confirms downside pressure, pointing to a probable test of lower band support near $60825.84 before any reclaim attempt.
Skew Δ
@52kskewFull time trader & analyst