MarketPR
Bitcoin shed the recovery optimism that briefly pushed it toward $64,613, reversing course to trade below $62,800 and the 100-hour simple moving average as both momentum indicators and structure turned against buyers.
The retreat, tracked on the BTC/USD hourly feed from Kraken, follows a failed attempt to hold $64,000 and a clean break below a bullish trend line that had provided support at $62,500.
How the Breakdown Developed The sequence matters more than the headline number. $BTC ran from a swing low at $59,070 up to $64,613 — a range the market is now retracing with some precision.
Price sliced through the 50% Fibonacci retracement of that move on the way down, a level chartists treat as the midpoint between a correction and a full reversal.
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