Bitcoin price surged above the $63,500 resistance level and reached $64,777 before starting to correct its gains. The price is currently trading below $63,500 and the 100 hourly Simple Moving Average. It faces resistance near $63,250 and $63,500, with the possibility of further upside if the resistance is broken. On the downside, immediate support is at $62,750, followed by $62,450. If the price fails to rise above the resistance zone, it could decline towards the $61,200 support level. The technical indicators suggest a bearish trend with the MACD gaining pace in the bearish zone and the RSI below the 50 level.



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