- Today's Chart: Bitcoin Price Declines Amid Weak Technical Indicators:

Bitcoin's price slightly dipped below $68,000 at the time of writing this report on Friday. Its short-term trend remains neutral or bearish, with a tendency toward decline as the price fluctuates below the 50, 100, and 200-day exponential moving averages (EMAs), all of which are well above the market price, indicating a broad corrective outlook.

The Moving Average Convergence Divergence (MACD) has fallen below the signal line on the daily chart, with the red histogram bars widening, suggesting that sellers retain moderate momentum after Bitcoin failed to stay above $70,000. Meanwhile, the Relative Strength Index (RSI) around 45 supports this outlook of waning bullish pressure without reaching oversold territory, consistent with a consolidation phase rather than a strong downtrend.

Daily chart of the ETH/USDT pair

Initial resistance is around $70,000, and if broken, the 50-day exponential moving average at $71,897 will come into play, where previous peaks meet the short-term moving averages. On the downside, immediate support is observed around $67,500, the lowest closing level before the current rebound, followed by $65,000, where previous rebound lows intersect with the recent price range minimum. A daily close below $65,000 could open the door to a deeper decline toward the annual low of $60,000.
$BTC ‌
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