Bitcoin continues to trade under strong bearish pressure after failing to sustain momentum above the recent resistance zone. The rejection from the upper boundary of the bearish wedge confirms that sellers remain in control, while price is now testing a critical support area around 62,300–62,500. A decisive breakdown below this level could trigger another impulsive bearish leg as market participants continue to reduce risk.

Tecnically Bitcoin has formed a series of lower highs and lower lows, signaling that the primary trend continues to favor sellers. The recent recovery attempts lacked sufficient buying volume, allowing bears to regain control and push price back toward the lower boundary of the current trading range. Until Bitcoin reclaims the major resistance zone, any short-term rally should be viewed as a corrective bounce rather than the beginning of a new uptrend.

From a technical standpoint, the rejection from the bearish wedge resistance adds further confirmation to the downside bias. Price is approaching a significant demand area, where a temporary relief bounce may occur to collect liquidity before sellers attempt another move lower. As long as the market remains below the recent swing highs, bearish momentum is expected to dominate.

Resistance Levels: 63,200 | 63,700 | 64,500
Support Levels: 62,300 | 61,030 | 60,000

If Bitcoin breaks and closes below 62,300, the next downside targets are likely around 61,030, followed by the psychological 60,000 level. However, if buyers defend the current support, a short-term recovery toward 63,200–63,700 is possible before the broader bearish trend resumes.

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