Bitcoin Price Prediction: Sub-$60K Next for BTC or a Strong BTC Rebound?
Bitcoin has entered a extremely delicate part after an aggressive draw back continuation. The current sell-off has pushed it into a traditionally reactive demand area of $60K, whereas broader threat sentiment stays fragile. The market is approaching a juncture the place technical construction, higher-timeframe demand, and on-chain liquidity dynamics converge, making the approaching periods essential for short- to mid-term course.
Bitcoin Price Analysis: The Daily Chart
On the every day timeframe, Bitcoin has decisively damaged under its current construction and continued to respect the descending channel, whereas the rejection from the center boundary of $75K confirms that sellers stay firmly in management. The most essential improvement is the impulsive breakdown towards the decrease boundary of the channel, the place the asset is now testing a main demand zone on the $60K worth area that beforehand acted as a sturdy consumers’ base earlier within the cycle.
This demand space, situated on the $60K area, is structurally vital because it represents the final main consolidation earlier than the earlier impulsive growth. While prior worth motion on the chart confirms this zone’s historic relevance, the present interplay is way extra aggressive, suggesting that any bullish response from this area would seemingly start as a corrective bounce somewhat than a right away pattern reversal.
As lengthy as Bitcoin stays under the descending channel resistance and the 100- and 200-day shifting averages, the every day construction stays decisively bearish, with draw back continuation nonetheless a legitimate threat if demand fails to soak up promoting strain.
BTC/USDT 4-Hour Chart
Zooming into the 4-hour timeframe, the bearish construction turns into even clearer. The most up-to-date transfer reveals a sharp sell-side growth into the present demand zone at $60K psychological assist, adopted by a minor reactive bounce, which up to now lacks sturdy follow-through.
From a short-term perspective, the important thing degree to watch is the closest provide zone overhead on the $75K, fashioned after the final impulsive breakdown. Any corrective rebound is prone to face promoting strain as the worth approaches this space, particularly if quantity and momentum stay weak.
As lengthy as Bitcoin fails to reclaim and maintain above this provide area, rebounds must be handled as pullbacks inside a broader bearish pattern somewhat than affirmation of a pattern shift. A failure to carry the present demand zone would expose the worth to a deeper draw back extension towards the channel’s decrease boundary of $55K.
Sentiment Analysis
The liquidation heatmap gives useful context for the current worth conduct. The one-year BTC/USDT liquidation heatmap reveals a dense liquidity pocket concentrated round and barely under the $60K–$65K area, which aligns carefully with the present worth space. This clustering of liquidity means that this zone has been a magnet for worth, pushed by compelled liquidations of over-leveraged lengthy positions throughout the current sell-off.
Notably, as worth approaches this area, liquidation depth declines relative to present ranges, indicating that a substantial portion of draw back leverage has already been unwound. This dynamic will increase the likelihood of short-term stabilization or a reactive bounce, notably if aggressive sellers start to lose momentum.
However, the absence of serious liquidation clusters above present worth ranges implies that upside liquidity is proscribed within the brief time period, reinforcing the concept any rebound is extra prone to be corrective somewhat than trend-changing.
Overall, whereas the broader construction stays bearish, the convergence of sturdy historic demand and diminished draw back liquidation strain means that Bitcoin might try a aid transfer or consolidation part from this zone.
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