Bitcoin Slips Below $63,000 Amid Geopolitical Tensions

Bitcoin has slipped to around $62,040 to $62,065, according to recent one-hour chart data, as traders react to President Trump’s comments about a potential ceasefire with Iran. The move comes after Bitcoin briefly touched near $64,000 earlier in the week but failed to hold that level.

Hourly and Four-Hour Charts Show Weakening Buyer Control

The one-hour chart reveals lower highs and weaker candles forming as trading volume thins out. Buyers have not managed to reclaim the $62,800 to $63,000 zone, which would flip the short-term structure back toward bullish. A one-hour close above that band would open a path toward $63,800, then $64,200 to $64,650. A stop below $62,200 keeps risk contained for anyone attempting a long position.

More aggressive entries near $61,700 to $62,000 depend on that zone holding and volume picking up. The four-hour chart mirrors the same pattern of lower highs and thin volume, reinforcing the case that buyers have lost control of the near-term trend. A four-hour close above $62,800 to $63,000 would match the bullish trigger seen on the hourly timeframe and target the same $63,800 to $64,650 zone.

On the flip side, a rejection at $62,800 to $63,000 favors a short move toward $61,800, then $61,000. A break below $61,600 opens the door to $60,000. Bears stay in control as long as the price fails to reclaim $63,000.

Daily Chart Keeps Broader Bias Cautious

The daily chart shows Bitcoin rejected near $64,000 and fading toward the $62,000 zone. This setup keeps the broader bias cautious. Support sits at $61,600 to $61,800, then $61,000, then $60,000, with major daily support at $57,735. Resistance runs from $62,800 to $63,000, then $63,800 to $64,200, with major resistance at $64,657 and $67,418.

The central pivot point at $63,515 sits above the current price. Traders need a daily reclaim of that level, or the 20-period exponential moving average near $62,500, before the setup turns constructive again.

Oscillators Point to Indecision, Moving Averages Stack Resistance

The oscillators summary reads neutral, with one bullish signal, two bearish signals, and eight neutral readings. The relative strength index sits at 46, and the Stochastic reads 78, both neutral and pointing to indecisive momentum. The commodity channel index at 31 and the average directional index at 28 confirm the market lacks a strong trend in either direction.

Momentum at 2,631 issues a sell signal, while the moving average convergence divergence level sits at negative 751 — the only buy signal on the board, hinting at short-term stabilization if support holds. The moving averages summary leans bearish, with three bullish signals and 11 bearish signals out of 12 readings.

The 10-period simple moving average at $61,871 and the 20-period simple moving average at $61,820 sit below the spot price and register as bullish signals. But the 10-period exponential moving average at $62,345 and the 20-period exponential moving average at $62,528 sit above the price as bearish signals. Every longer-dated average, from the 50-period to the 200-period exponential and simple moving averages, sits well above the spot price, ranging from $65,488 to $75,276. That stacks overhead resistance against any recovery attempt.

One Bullish Signal Exists, But Bears Hold the Edge

Bitcoin holds one credible technical argument in its favor. The MACD level at negative 751 remains the lone bullish signal on the oscillator board, and both the 10-period and 20-period simple moving averages still sit below spot price as bullish signals. A reclaim of $62,800 to $63,000, confirmed by a one-hour or four-hour close above that zone, opens a path toward $63,800, then $64,200 to $64,650.

Volume would need to pick up significantly to validate the move, but the setup for a short-term bounce exists if buyers step in near current levels. The weight of the evidence on Wednesday favors sellers though. Eleven of 12 moving averages read bearishness, and every average from the 50-period to the 200-period sits well above price, from $65,488 to $75,276. The daily chart already rejected $64,000 once, and a break below $61,600 opens the door to $60,000, with major support not appearing again until $57,735. Bears keep control as long as Bitcoin trades below the $63,515 central pivot.