$BTC The declining 20-day exponential moving average ($63,651) and the Relative Strength Index (RSI) in negative territory suggest that the bears have the upper hand. If the support at $60,000 is broken, the BTC/USDT pair could fall to $56,552. Buyers are expected to defend this level with all their might, as failure to do so could sink the pair to $50,000.

On the other hand, if the price rises and breaks above $62,500, it would suggest that the bulls are attempting a comeback. The pair could then rally towards the crucial resistance at $64,602 and subsequently towards $70,000.