BTCUSD — Bitcoin loses the trendline and heads toward 62,000BitcoinCRYPTO:BTCUSDgisabdib Bitcoin is at 68,933.08, down 305.86 (-0.44%) on the session, trading below the rising trendline that had supported price since September. The recovery I mapped in October has unwound. Price was then above a broken yearly downtrend, holding the 0.382 with momentum resetting — the structure of an early reversal. That structure has now failed. Bitcoin rejected the 88,000 area in late September, rolled over through October, and has fallen roughly 19,000 points from the high. The trendline off the summer low broke last week. The moving averages confirm the shift. The 50 EMA at 74,004.47 crossed below the 200 EMA at 77,903.38 during the decline, and price trades well beneath both. Every bounce since October has stalled at a lower level. RSI at 23.62 is deeply oversold and below its signal line at 31.99 — the lowest reading on this chart since the June bottom. Readings this extreme mark exhaustion of a move, not a bottom. Levels: - Support: 62,194.61, the horizontal that defined the entire June–August base. That is roughly 6,700 points below price and the first structural floor on the chart. Below it, there is nothing from this range left. - Resistance: the broken trendline, now overhead near 72,000. Above it, 74,004 (50 EMA) and 77,903 (200 EMA). A broken trendline, a bearish crossover and a deeply oversold oscillator pointing at a floor that has not been tested in three months. The direction is clear; the entry price is not. Selling at an RSI of 23, six thousand points above support, is the worst location in the move.