{"id":632243,"date":"2024-07-30T13:30:57","date_gmt":"2024-07-30T13:30:57","guid":{"rendered":"https:\/\/ktsl888.com\/?p=632243"},"modified":"2024-07-30T11:28:34","modified_gmt":"2024-07-30T11:28:34","slug":"bitcoin-eyes-63000-key-indicators-signal-further-decline-time-to-sell","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-eyes-63000-key-indicators-signal-further-decline-time-to-sell\/","title":{"rendered":"Bitcoin Eyes $63,000: Key Indicators Signal Further Decline – Time To Sell?"},"content":{"rendered":"
Bitcoin<\/span><\/a> (BTC) is currently experiencing increasing bearish pressure, with technical indicators suggesting a potential decline toward the $63,316 mark. This price drop is driven by factors such as weakening momentum and decreasing trading volume.<\/span><\/p>\n As Bitcoin <\/span>targets<\/span><\/a> the $63,316 mark, Investors and analysts are closely monitoring this development, as it may indicate further declines and set the stage for BTC to test lower support levels. This article analyzes Bitcoin’s current price movements and <\/span>technical indicators<\/span><\/a> signaling a potential further decline for the cryptocurrency focusing on the 4-hour and the 1-day chart.<\/span><\/p>\n Bitcoin currently has a market capitalization exceeding $1.3 trillion and a trading volume surpassing $39 billion. As of the time of writing, its price was down by 3.81%, trading around $66,814 over the last 24 hours. During this period, the asset\u2019s market cap has decreased by 3.84%, while its trading volume has surged by 70.25%.<\/span><\/p>\n On the 4-hour chart, the price of BTC looks bearish as it is currently dropping towards the 100-day Simple Moving Average (SMA). It can also be observed here that Bitcoin’s price has printed multiple bearish candlesticks as it approaches the $63,316 <\/span>support level<\/span><\/a>.<\/span><\/p>\nTechnical Analysis: Key Bearish Indicators<\/strong><\/h2>\n