when

Rekt

Bitcoin closed in on $60,000 on July 10 as bulls fought for key trendline support.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-07/c384e49a-17f4-4c1d-b5b7-13aa8d09dba5.png" alt="Bitcoin sellers are trying to keep BTC price below $60K" title="">
 <figcaption style="text-align: center;">
 BTC/USD 1-day chart. Source: TradingView
 </figcaption>
</figure>
<h2 data-ct-non-breakable="true" id="btc-price-rsi-delivers-classic-rebound">BTC price RSI delivers classic rebound</h2>
Data from <a href="https://subscription.cointelegraph.com/?_gl=1*7499wx*_ga*MTQ0MzQ0NzI4Ny4xNzE2MzY1NTA0*_ga_53R24TEEB1*MTcxNjM2NTUwNC4xLjEuMTcxNjM2Njg2MC4wLjAuMA..">Cointelegraph Markets Pro</a> and <a href="https://www.tradingview.com/symbols/BTCUSD/?exchange=BINANCE" target="_blank" rel="noopener nofollow">TradingView</a> confirmed Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>)&nbsp;price highs of $59,459 on Bitstamp on the day.
Swift gains into the Asia trading session left BTC/USD up 1.5% at the time of writing, with the pair bouncing from classic “oversold” conditions.
These had been <a href="https://cointelegraph.com/news/btc-price-taps-58k-vital-bitcoin-bull-market-trendline-reemerges"></a><a href="https://cointelegraph.com/news/btc-price-taps-58k-vital-bitcoin-bull-market-trendline-reemerges">widely discussed by market participants</a>, in particular the relative strength index (RSI), which circled its lowest levels in 10 months.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-07/f13dbd70-c42b-4dde-92d8-32aacc50c617.png" alt="Bitcoin sellers are trying to keep BTC price below $60K" title="">
 <figcaption style="text-align: center;">
 Source: Kevin Svenson
 </figcaption>
</figure>
“Bullish divergences on the daily confirmed,” popular trader Daan Crypto Trades <a href="https://x.com/DaanCrypto/status/1810766372684898450" target="_blank" rel="noopener nofollow">wrote</a> in part of a post on X on July 9. 
<blockquote data-ct-non-breakable="true">
 “Be on the look out for an overall high timeframe break out on the daily RSI at some point in the future.”
</blockquote>
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-07/a56ac87e-fdf4-4f98-828d-8d2b3c3b0e46.jpeg" alt="Bitcoin sellers are trying to keep BTC price below $60K" title="">
 <figcaption style="text-align: center;">
 BTC/USD chart. Source: Daan Crypto Trades
 </figcaption>
</figure>
Popular trader and analyst Rekt Capital subsequently <a href="https://x.com/rektcapital/status/1810944807616798810" target="_blank" rel="noopener nofollow">said</a> that the RSI divergence was “playing out.” 
Daan Crypto Trades flagged $59,000 as the “main price level” to reclaim, while others leaned toward $58,400 in the race to tackle resistance in the $60,000 vicinity.
“If $BTC can reclaim $58,400, a $60,000-$60,700 retest is likely,” trader Justin Bennett <a href="https://x.com/JustinBennettFX/status/1810769416327712781/photo/1" target="_blank" rel="noopener nofollow">predicted</a>. 
<blockquote data-ct-non-breakable="true">
 “What happens between $60k and $58,400 will determine whether Bitcoin sees $67k or $48k next.”
</blockquote>
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-07/bcc7beee-9006-48e2-b6db-5d39a01e0aa9.png" alt="Bitcoin sellers are trying to keep BTC price below $60K" title="">
 <figcaption style="text-align: center;">
 BTC/USDT perp chart. Source: Justin Bennett
 </figcaption>
</figure>
Bennett stressed that <a href="https://cointelegraph.com/news/btc-price-risks-double-top-5-things-bitcoin-this-week">upcoming United States macroeconomic data prints</a> in the form of the Consumer Price Index and Producer Price Index would be crunch events for Bitcoin market performance.
<h2 data-ct-non-breakable="true" id="bitcoin-bears-line-up-resistance-of-last-resort">Bitcoin bears line up resistance of last resort</h2>
The latest data from monitoring resource <a href="https://www.coinglass.com/pro/futures/LiquidationHeatMap" target="_blank" rel="noopener nofollow">CoinGlass</a> meanwhile showed thin liquidity at that key level but building at the time of writing, with the majority cleared during the day’s push higher. 
Related:&nbsp;<a href="https://cointelegraph.com/news/bitcoin-power-law-300-btc-price-gains-by-late-2025">Bitcoin ‘Power Law’ sees up to 300% BTC price gains by late 2025</a>
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-07/a3df6a8b-8131-4182-91c3-8d0506c0af14.png" alt="Bitcoin sellers are trying to keep BTC price below $60K" title="">
 <figcaption style="text-align: center;">
 BTC liquidation heatmap (screenshot). Source: CoinGlass
 </figcaption>
</figure>
“Bitcoin is now challenging the 1.5-month Downtrend for a breakout attempt,” Rekt Capital <a href="https://x.com/rektcapital/status/1810945153311383649" target="_blank" rel="noopener nofollow">continued</a>.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-07/741d7ac7-e44e-45cb-9460-13564404c3cf.jpeg" alt="Bitcoin sellers are trying to keep BTC price below $60K" title="">
 <figcaption style="text-align: center;">
 BTC/USD chart. Source: Rekt Capital
 </figcaption>
</figure>
Current BTC price activity includes a battle for both the 99-day and 200-day moving averages (MAs), with BTC/USD now sandwiched between them.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-07/15d6d776-d8ec-48f9-a09f-d2d64d4f3ccc.png" alt="Bitcoin sellers are trying to keep BTC price below $60K" title="">
 <figcaption style="text-align: center;">
 BTC/USD 1-hour chart with 99, 200-day MA. Source: TradingView
 </figcaption>
</figure>
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin sellers are trying to keep BTC price below $60K

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