Bitcoin Price Prediction: BTC Risks Drop Toward $55K as $60K Support Comes Under Pressure

Bitcoin stays trapped beneath a serious resistance cluster after failing to maintain final week’s restoration. The newest worth motion has shifted again in favor of the bears, with BTC breaking beneath its short-term rising construction and as soon as once more shifting towards the decrease boundary of its current vary.

Bitcoin Price Analysis: The Daily Chart

On the every day timeframe, BTC continues to commerce beneath the primary main provide zone between $65K and $68K. After briefly recovering into this space, sellers regained management and pushed the market decrease, reinforcing the significance of this resistance area.

The current rejection additionally retains BTC beneath the 100-day shifting common close to $73K and nicely beneath the 200-day shifting common round $77K, sustaining the broader bearish construction.

The most essential assist stays the $59K to $61K demand zone, which has repeatedly attracted patrons all through June. However, every rebound from this space has produced a decrease high, suggesting that bullish momentum is step by step fading.

As lengthy as BTC stays beneath $68K, the market stays susceptible to a different check of the $60K assist area. A decisive breakdown beneath this zone might expose the subsequent main assist space round $54K to $56K.

BTC/USDT 4-Hour Chart

The 4-hour chart paints a extra bearish image within the quick time period. BTC lately broke beneath its ascending restoration channel after one other rejection from the $65K to $68K provide zone.

More importantly, the most recent restoration try failed to supply a brand new high and as a substitute shaped one other decrease high close to $65K earlier than sellers stepped again in. Price is now buying and selling round $63K and shifting towards the decrease finish of the current vary.

The lack of the rising trendline is a notable growth as a result of it alerts weakening short-term momentum. Unless patrons rapidly reclaim the $64K to $65K space, the chance of one other transfer towards the $60K to $61K assist zone stays elevated.

The speedy resistance stays the $65K to $68K provide area, whereas the blue assist zone round $60K is the important thing degree that bulls should defend.

Sentiment Analysis

The Binance BTC liquidation heatmap highlights a considerable focus of liquidity beneath the present market worth, making the draw back notably fascinating from a liquidity perspective.

While liquidity exists above the market round $70K, $75K, and better ranges, essentially the most important and closest cluster is positioned beneath the present worth motion. Large liquidation swimming pools might be seen across the $59K to $60K area, with even bigger concentrations extending towards $55K and roughly $50K to $52K.

Since markets usually gravitate towards massive liquidity concentrations, this setup means that draw back liquidity stays largely untapped. The repeated failures beneath the $65K to $68K provide zone additional enhance the danger that BTC finally breaks beneath the $60K assist space to focus on these lower-liquidity pockets.

In different phrases, whereas the $60K area continues to behave as assist, additionally it is sitting immediately above a considerable liquidity vacuum. If sellers handle to pressure a decisive breakdown, the transfer might speed up as the market seeks bigger liquidation clusters between $55K and $50K.

For now, the important thing battle stays at $60K to $61K, however the heatmap means that the bigger liquidity incentive at present resides beneath the market fairly than above it, leaving the danger skewed towards an eventual draw back sweep if assist fails.

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