- Daily Chart: Bitcoin Moving Toward Higher Support Levels:

Bitcoin is trading at $65,510 at the time of writing on Wednesday, as the short-term trend shifts to a cautious bullish outlook after regaining ground above its recent lows near $62,510. Meanwhile, the MACD( remains above its signal line on the daily chart, indicating improving bullish momentum.

The RSI) stayed at 35 below the midpoint of 50 after rising from oversold territory, suggesting a decrease in bearish pressure rather than strong buying. At the same time, Bitcoin's price( is trading below the 50, 100, and 200-day EMAs), which are all clustered between $76,400 and $91,452, so the overall trend remains corrective despite waning downside momentum.

Daily BTC/USDT Chart

The initial resistance level is near $70,600, where the recent swing highs converge, followed by $72,271, the highest level recorded on February 8. The super trend line is between $72,500 and $74,700, forming a broader supply zone.

As long as Bitcoin stays above $62,510 and momentum indicators continue to improve, declines are likely to attract buying interest during this recovery phase.