1. What is Bitcoin’s current price?
Bitcoin trades near $62,724 at the time of this analysis.
2. Why is Bitcoin falling?
Weak market sentiment, profit booking, and uncertainty around global economic conditions have kept sellers in control.
3. Is Bitcoin oversold now?
Yes. The RSI stands near 29.7, which places Bitcoin in the oversold zone.
4. What are the important support and resistance levels?
Support stands at $62,500, $62,200, and $61,800, while resistance sits at $63,000, $63,500, and $64,000.
5. What should traders watch next?
Traders should watch whether Bitcoin holds above $62,500, along with ETF flows, US economic data, and Federal Reserve policy updates.