For the first time in six months, the BTC/USD pair reached $63000. However, it could not rise higher and dropped to the area of 62200.
The BTC/USD pair feels comfortable above $60000. And the uptrend line provides it with good support and protects against a decline below 60000. An added benefit is that the BTC/USD pair is trading well above the 100-hour moving average.
If the bulls manage to test the level of 63000 again, their attempt will most likely be successful. In this case, we will see an increase in the area of 63500. Above which the price can rise to the level of 65000.
If the bears activate and lower the Bitcoin price below $62000, they will try to descend the price to the $ area of 61200. A break below the level of 61000 could push the price towards $60000.