Bitcoin's Short-Term Price Outlook Turns Bearish with Support at $65K

Technical indicators such as the 10-day momentum and MACD histogram have turned bearish, signaling a negative short-term momentum for Bitcoin. The crucial support level to watch is the 50-day simple moving average at $64,870. If U.S. inflation data surpasses expectations, Bitcoin may drop towards this support level. The upper end of the current channel, identified by trendlines, serves as the resistance for bullish momentum to overcome in order to resume the broader uptrend.