Bitcoin near $63,444 as RSI hits 17; $61,310 key

On June 4, 2026 at 8:30 a.m. EDT, bitcoin traded near $63,444 while the 14-period relative strength index registered 17. All 14 tracked moving averages pointed lower, and the $61,310 swing low stood as the last clear technical support before a possible move to $58,000.

On the 1-hour chart, bitcoin bounced briefly from the $61,310 low, stalled near $64,500 and then pulled back toward $62,000–$63,000, printing a lower high. A sustained 1-hour close above $64,500 is required to treat the bounce as more than a counter-trend reaction.

The 4-hour chart shows a series of lower highs and lower lows. Every rally so far has met renewed selling. A long lower wick near $61,310 indicates buying and short covering at that level, but no higher high has formed. A 4-hour close above $64,500 followed by a clean break of $67,000 would be needed to shift the 4-hour structure to the upside and open a run to the $67,000–$70,000 area.

Daily data show a peak near $82,800 followed by a sequence of lower highs. Sell-side volume expanded through the decline and prior support around $76,000–$77,000 moved to resistance. The $70,000 area is acting as a psychological ceiling. If $61,310 fails, the next technical band lies between $58,000 and $60,000, with a further path to $55,000 if selling continues.

Oscillators are at extreme readings. The 14-period RSI is 17 and the Stochastic reads 4. The 20-period commodity channel index is -241. The MACD at 12/26 is -3,059 and the 10-period momentum indicator reads -14,743. The Awesome Oscillator is at -8,103. The panel shows mixed signals but large negative values on MACD and momentum reflect strong downward pressure.

All tracked moving averages are positioned above the market. The EMA 10 is about $69,682 and the SMA 10 about $70,891. The EMA 200 stands at $80,464 and the SMA 200 at $78,928, leaving bitcoin roughly $16,000–$18,000 below the longest-duration averages. There is little moving-average support between the current price and the $58,000–$55,000 zone.

Market participants are monitoring volume and price action around $61,310 for clues. If buyers hold that level and bitcoin reclaims $64,500 on higher volume, a rally into the mid-to-high $60,000s would gain technical credibility. A decisive close below $61,310 would open a technical pathway to $58,000 and then $55,000 given the lack of moving-average support in between.