Bitcoin $61.8K; RSI-14 at 24, key test at $63K

Bitcoin traded at $61,822 on June 7, 2026, at 8:35 a.m. EDT, remaining above a recent low of $59,100. Short-term momentum indicators are in oversold ranges while longer-term moving averages remain above the price.

On the one-hour chart, bitcoin has recorded a series of higher highs and higher lows since the $59,100 low and recently tested resistance near $62,950. Immediate support is at $61,800, with stronger backing in the $60,800 to $61,000 area. The one-hour relative strength index (RSI-14) reads 24. Price needs to close above about $62,900 to $63,000 on the one-hour to show stronger upside momentum on that timeframe.

The four-hour chart shows higher lows forming after the sharp decline to $59,100. Volume has declined during the recovery phase. A four-hour close above roughly $63,000 to $63,500 would present a clearer short-term bullish case on that timeframe. A failure to hold $61,000 on the four-hour chart would increase the likelihood of another test of the $59,100 low.

The daily chart remains in a downtrend that began near $82,800 and moved to $59,100 on sessions with elevated selling volume. Buyers have pushed price back into the $59,000 to $60,000 range, but the daily structure has not shifted. A sustained reclaim of around $64,000 is required to challenge the daily bearish trend. The next major resistance band on daily charts sits between $68,000 and $70,000.

Oscillators show oversold readings on short timeframes. The RSI-14 is 24, the commodity channel index (CCI-20) is near -129 and the Stochastic is about 13. Momentum indicators produce mixed signals; the MACD (12,26) is negative at roughly -4,054 and the average directional index (ADX-14) is about 44, indicating a strong trend without specifying direction.

Moving averages are largely above the current price. Thirteen of 15 tracked simple and exponential moving averages are in sell territory. The nearest short-term moving averages sit near the 10-period EMA at $66,150 and the 10-period SMA at $67,095. Longer-term averages include the 200-period EMA near $79,916 and the 200-period SMA near $78,474.

Technical thresholds noted on charts include a one-hour close above about $62,900 to $63,000 and a four-hour close above $63,000 to $63,500 as tests for near-term upside. Rejection in the $62,800 to $64,000 range or a loss of support around $60,400 would reopen the path back to $59,100 and a secondary support zone near $57,000 to $58,000.

Volume trends, oscillator readings and the placement of moving averages are being used to assess short- and medium-term price action on charts.