Bitcoin slips to $62,103 after Trump warns Iran ceasefire shaky

Bitcoin dropped to $62,103 early Wednesday, down $1,208 or 1.91% from the prior session’s highs, after sellers pushed back a rally toward $64,169 and President Trump warned the ceasefire with Iran looked shaky. The price move erased a recent attempt to climb back above the $64,000 area.

Shorter timeframes showed thinning volume and a series of lower highs. On the one-hour chart Bitcoin traded in a narrow band around $62,040 to $62,065, with weaker candles and falling volume. Market participants flagged political uncertainty after the presidential comments as a factor affecting trading.

Technical thresholds on the hourly chart were clear: a one-hour close above the $62,800–$63,000 band would flip the short-term structure toward bullish and open a route to about $63,800 and then $64,200–$64,650. A defined stop below $62,200 was cited for risk control. More aggressive entries near $61,700–$62,000 depended on that zone holding and volume picking up, with $62,800–$63,000 as an initial target.

The four-hour chart showed a similar pattern of lower highs and light volume. A four-hour close above $62,800–$63,000 would match the hourly trigger and target the same higher range. A rejection at that band would favour downside toward $61,800 and then $61,000; a break below $61,600 would expose $60,000. Traders tracked the central pivot at $63,515 as a key level; bears remained in control while price traded below it.

On the daily chart the bias stayed cautious after a rejection near $64,000 and a fade toward $62,000. Immediate support levels were $61,600–$61,800, then $61,000 and $60,000. Major daily support appeared near $57,735. Resistance ran from $62,800–$63,000 to $63,800–$64,200, with higher resistance at $64,657 and $67,418. A daily reclaim of the central pivot or the 20-period exponential moving average around $62,500 was identified as necessary before the setup looked constructive on higher timeframes.

Technical indicators were mixed. The relative strength index stood at 46 and the Stochastic at 78. The commodity channel index read 31 and the average directional index was 28. Momentum issued a sell signal while the Awesome Oscillator was neutral. The moving average convergence divergence registered negative 751 and was the lone bullish signal among the indicators monitored.

Short simple moving averages were slightly below the spot price, with the 10-period SMA at $61,871 and the 20-period SMA at $61,820. The 10-period EMA at $62,345 and the 20-period EMA at $62,528 sat above the price. Longer-dated averages from the 50-period to the 200-period EMA and SMA ranged roughly from $65,488 to $75,276, creating layered resistance above the market.

If buyers reclaim $62,800–$63,000 on an hourly or four-hour close supported by rising volume, the price would have a clearer path toward the $63,800–$64,650 area. If volume remains thin and the band fails to hold, downside momentum could push Bitcoin toward $61,600 and then the $60,000 level, with stronger support returning near $57,735.