Bitcoin rebounds above $62,000 as bulls target a break of $64,500

Bitcoin formed a base above $60,000 and moved into a recovery phase above $62,000, with price holding above $62,500 and the 100-hour simple moving average. The setup points to additional upside if BTC can establish itself above $64,500, while failure to clear that area could reopen a pullback toward $62,800, $62,500 and $62,000.