Bitcoin price attempted an upside break above the $62,500 resistance level.
There was also a break below a key bullish trend line with support near $61,500 on the hourly chart of the BTC/USD pair.
The pair even spiked below the 50% Fib retracement level of the upward move from the $58,140 swing low to $62,950 high.
A clear break above $61,200 resistance may possibly call open the doors for a move towards the $62,000 level.
If bitcoin fails to clear the $62,000 resistance zone, it could extend its decline.
It is near the 61.8% Fib retracement level of the upward move from the $58,140 swing low to $62,950 high.
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