Bitcoin‘s broader daily chart continues to reflect a clear bearish structure, with price declining from the mid-$95,000 region into the current $63,000 zone. A capitulation-style flush toward approximately $59,930 marked the most aggressive leg down, accompanied by the largest volume spike of the move. The subsequent bounce lacked comparable participation, reinforcing the interpretation of distribution rather than accumulation.

Major support sits at $60,000, with secondary support between $62,500 and $63,000, the zone that is now under pressure. Overhead resistance stands at $68,000 to $70,000, with major resistance above $75,000. Structurally, lower highs and lower lows remain intact, and until $70,000 is reclaimed on a daily closing basis, rallies remain corrective within a dominant downtrend.

BTC/USD 1-day chart via Bitstamp on Feb. 24, 2026.

On the four-hour bitcoin chart, the pattern is equally decisive. A confirmed lower high formed near $68,668, followed by a strong impulsive decline and weak consolidation before pressing toward $62,696. Immediate support is defined between $62,500 and $63,000, while a sustained move below $62,500 opens the door to a retest of $60,000. Resistance is layered between $65,500 and $66,000, with trend invalidation only occurring upon a reclaim of $68,700. Momentum remains tilted downward unless $66,000 is recovered decisively. Simply put, the structure reflects continuation behavior, not basing behavior. The market is compressing near support, and compression typically resolves with expansion. The only question is direction, and structure currently answers that.

BTC/USD 4-hour chart via Bitstamp on Feb. 24, 2026.

The one-hour bitcoin chart highlights short-term consolidation within a broader downtrend. Following the sharp decline from approximately $67,691, bitcoin stair-stepped lower and is now compressing between $62,800 and $63,200. Immediate support rests at $62,700, with a breakdown continuation trigger below $62,500. Intraday resistance is positioned between $63,800 and $64,200, while a momentum shift would require a move above $65,000. Volume has tapered during this consolidation phase, signaling a pause after expansion. However, declining volume during consolidation in a downtrend typically suggests sellers remain in control but are waiting for liquidity. In other words, this is not relief — it is hesitation before the next decision point.

BTC/USD 1-hour chart via Bitstamp on Feb. 24, 2026.

Oscillator readings reinforce the cautious tone. The relative strength index ( RSI) registers 29, reflecting weak momentum conditions. The Stochastic oscillator stands at 18, while the commodity channel index (CCI) prints negative 223, underscoring downside pressure. The average directional index (ADX) reads 58, indicating a strong prevailing trend.

Currently, the Awesome oscillator is negative 7,904, and momentum prints negative 6,867. The moving average convergence divergence ( MACD) level sits at negative 3,949. Collectively, these readings reflect a market with strong trend strength and negative momentum characteristics. There is no confirmed bullish divergence across the provided data set — only persistent pressure.

Moving averages tell an equally unforgiving story. The exponential moving average (EMA) at $66,686 and the simple moving average (SMA) at $66,965 for the 10-period both sit well above the current price. The 20-period EMA at $69,380 and the 20-period SMA at $67,663 reinforce overhead pressure. The 30-period EMA at $72,208 and 30-period SMA at $72,377 continue the pattern, followed by the 50-period EMA at $76,746 and 50-period SMA at $80,146.

Longer-term measures show the 100-period EMA at $84,335 and 100-period SMA at $84,675, while the 200-period EMA at $91,753 and 200-period SMA at $98,396 loom far above the spot price. When price trades beneath every major moving average from short-term through long-term horizons, the message is not subtle. Bitcoin is operating under layered resistance across the entire trend stack, and until those levels begin to flip, gravity remains the dominant force.

Bull Verdict:

Bitcoin must defend the $62,500 to $63,000 support zone and produce a sustained four-hour close above $65,000, followed by a reclaim of $68,000 to $70,000 on strong volume. A daily close back above $70,000 would invalidate the current lower-high structure and signal that downside momentum has exhausted, shifting the broader trend from corrective bounce territory toward structural recovery.

Bear Verdict:

Failure to hold $62,500, particularly on expanding volume, exposes bitcoin to a renewed test of $60,000 and potentially the prior swing low near $59,930. With price trading below all major exponential moving averages (EMA) and simple moving averages (SMA), and trend strength confirmed by a high average directional index (ADX), continuation toward lower liquidity zones remains the higher-probability outcome unless key resistance levels are decisively reclaimed.

• What is the bitcoin price outlook for Feb. 24, 2026?
  Bitcoin remains in a bearish structure below $70,000, with downside risk toward $60,000 if $62,500 support fails.
• What are the key bitcoin support and resistance levels right now?
  Key support sits at $62,500 and $60,000, while resistance is stacked between $65,000 and $70,000.
• What do bitcoin technical indicators signal today?
  The relative strength index ( RSI) at 29 and a high average directional index (ADX) at 58 reflect strong bearish momentum.
• Why are bitcoin moving averages important in this setup?
  Bitcoin is trading below all major exponential moving averages (EMA) and simple moving averages (SMA), reinforcing dominant downward pressure.

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