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

목차

Cointelegraph

2024년 7월 10일에 게재된 다른 기사

Missed Out On Huge 100,000x PEPE and SHIB Runs? Don’t Miss Out On This Viral Altcoin

Solana’s Firedancer client hits testnet milestone: Will it boost SOL?

Avalanche (AVAX) Price Teases Breakout: Momentum Could Drive More Upsides

Invest and Prosper with BlockDAG: Dominant Long-Term Crypto Gains $57.1M, Plus Key Updates on Cos...

German Bitcoin Selling Spree: Government Continues 1000 BTC Transfers

Binance Supports Render Token Swap and Rebranding

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!