Technical indicators show bitcoin's short-term momentum turning bearish, with support near $65,000. The 10-day momentum indicator dipping below zero signals negative market sentiment, while the MACD histogram turning negative indicates potential trend changes.
Analysts suggest that rising U.S. Treasury yields may pose a downside risk to bitcoin, aligning with indicators pointing towards a downward path. The 50-day simple moving average at $64,870 serves as a crucial support level, with potential dependency on U.S. inflation data outcomes.
Resistance for bullish movement lies at the upper end of the channel formed by trendlines connecting highs and lows from March and April. A breach of this level could signal a continuation of the uptrend.
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