Bitcoin is turning down and could keep sliding, which is bad news for buyers hoping the summer rally holds.

• Bitcoin dropped quickly to $63,000, hitting a near-term downside target.
• The longer it stays below $64,600, the more likely it falls further toward $61,800.
• Slipping under the July low near $62,500 would flip the trend fully to a downtrend on the daily chart.
• Momentum on the daily, two-day, and three-day charts is all turning down at the same time.

Outlook: Unless Bitcoin reclaims the mid-$64,000s soon, the path of least resistance points lower toward $61,800.

## Bitcoin Levels

• **Bias:** Bearish — momentum turning down across daily, two-day, and three-day charts.
• **Support:** $62,500 (July higher low); $61,800 (middle of lower band).
• **Resistance:** $64,600; $64,700; $65,300.
• **Targets:** $63,000 (met), then $61,800 to the downside.
• **Invalidation:** Reclaiming and holding above $64,600–$65,300 turns momentum back up.