Short-Term Moving Averages Turn Bullish as Bitcoin Holds Above $62,500
The post Short-Term Moving Averages Turn Bullish as Bitcoin Holds Above $62,500 appeared on BitcoinEthereumNews.com. Key Takeaways Bitcoin traded near $62,743 on July 9, 2026, up 1.0% over the past 24 hours. Market data shows Bitcoin’s market cap held at $1.259 trillion during the pullback. Short-term averages signal bullishness, but the 50-day average sits at $65,624. Hourly Chart Shows Tight, Choppy Range Bitcoin’s one-hour chart shows choppy price action inside the broader daily range, with tight support forming near $62,400 and resistance building at $62,900 to $63,000. The momentum indicator flashed a bearish signal on the shortest timeframe, suggesting some near-term exhaustion after the asset’s 1% daily gain. Traders working intraday setups are watching for bullish interest near $62,300 to $62,500, with stops placed below $62,100, while rallies into $62,950 and above are drawing bearish interest back toward the middle of the range. BTC/USD 1-hour chart via Bitstamp on July 9, 20