Bitcoin experienced a downside correction after failing to break through the $64,750 resistance level. It dropped below $64,000 and $63,500, reaching a low of $63,673 before consolidating losses. Although it is currently trading below the 100 hourly simple moving average and the $63,500 level, there is potential for a fresh increase. If the price rises, it may face resistance near $63,250 and $63,700. A move above $64,000 could spark further upsides. If it fails to rise, immediate support is around $63,000, with major support at $62,500. Technical indicators indicate a loss of momentum in the bullish zone.



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