Bitcoin Falls to $62,000 as Trump's Iran Ceasefire Comments Rattle Markets

Bitcoin fell to $62,103 early Wednesday, down $1,208 or 1.91%, after sellers rejected a run at $64,169 during the prior 24 hours and following President Trump’s remarks that the ceasefire with Iran is on shaky ground. The pullback has left the daily chart cautious, with shorter timeframes showing thinning volume and a split between a lone bullish oscillator signal and a wall of longer-term bearish moving averages.

On the one-hour chart, Bitcoin printed in the $62,040–$62,065 range with lower highs and weakening candles as volume thinned. Buyers have not reclaimed the $62,800–$63,000 zone that would flip the short-term structure bullish. A one-hour close above that band opens a path toward $63,800, then $64,200–$64,650. The four-hour chart mirrors the same pattern of lower highs and thin volume, reinforcing that buyers have lost control of the near-term trend. A four-hour close above $62,800–$63,000 would target the same upside levels, while a rejection favors a short toward $61,800, then $61,000.

The daily chart shows Bitcoin rejected near $64,000 and fading toward $62,000, keeping the broader bias cautious. Support sits at $61,600–$61,800, then $61,000, then $60,000, with major daily support at $57,735. Resistance runs from $62,800–$63,000, then $63,800–$64,200, with major resistance at $64,657 and $67,418. The central pivot point at $63,515 sits above the current price, and traders need a daily reclaim of that level or the 20-period EMA near $62,500 for the setup to turn constructive.

Oscillators point to indecision. The MACD at -751 is the only bullish signal among the oscillator readings, while the RSI at 46, Stochastic at 78, and CCI at 31 are all neutral. Momentum at 2,631 issues a sell signal. The moving averages summary leans heavily bearish, with 11 of 12 readings bearish. The 10-period SMA at $61,871 and 20-period SMA at $61,820 are bullish as they sit below spot price, but every longer-dated average from the 50-period to the 200-period EMA and SMA sits well above the price, ranging from $65,488 to $75,276, stacking overhead resistance.

Bull verdict: The MACD buy signal and the 10- and 20-period SMAs below spot price suggest a potential short-term bounce if buyers step in near current levels and volume picks up. A reclaim of $62,800–$63,000 could open a path to $63,800 and $64,200–$64,650.

Bear verdict: The weight of evidence favors sellers. Eleven of 12 moving averages are bearish, and the daily chart already rejected $64,000. A break below $61,600 opens the door to $60,000, with major support not appearing until $57,735. Bears keep control as long as Bitcoin trades below the $63,515 central pivot.

Source: https://news.bitcoin.com/bitcoin-falls-to-62000-as-trumps-iran-ceasefire-comments-rattle-markets/