Bitcoin (BTCUSD) has opened today with notable bearish momentum, breaking below the $64,880.00 level. This decline marks the start of a bearish correction following the recent upward movement from the $53,325.00 region. The immediate downside targets are set at $62,670.00, with further potential to reach $60,886.00 if the initial level is breached.
Given the current stochastic negativity, a bearish bias is anticipated for today. However, if Bitcoin manages to break above $64,880.00 and then $65,485.00, it could negate the present negative pressure and potentially restore the primary bullish trend.
The expected trading range for today is between a support level of $62,000.00 and a resistance level of $65,500.00.
Trend Forecast: Bearish
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