TL;DR
- TradingView analysts are watching whether Bitcoin can hold the $60,000–$63,700 support region.
- If buyers are able to defend their demand, bullish setups could lead us towards a rebound of $67,000 or even higher.
- A bearish setup warns that losing $60,000. could lead to further breakdown.
Bitcoin is stuck between recovery and breakdown setups
Bitcoin enters the weekend, with analysts divided over whether this recent recovery is only a brief pause or the beginning of a more significant one. TradingView charts from June 20 all focused on the exact same area. BTC continues to react around low $60,000, and the next step depends on how buyers defend the demand.
The most positive case is from heniitrading. They mapped BTCUSDT and showed that the pair had bounced back from support channel after an earlier break above resistance. This setup shows the market holding above $63,700 while still trading beneath $67,000. Bulls have a very clear objective in the short term: to push. Bitcoin Back into the upper region and show that recent buying pressure was not just a relief measure.
Test the $60,000 line
Some analysts weren’t as forgiving. Weslad described Bitcoin sitting on a brand new demand zone. $60,000 was the main line of sand. This argument is clear: so long as the markets respect that area, there will be a rise in price. liquidity Supply zones are still possible. A decisive closing below $60k would weaken bullish arguments and open the door to further downside.
The view of behdark, who identified $61,000 as the primary reaction area in his 4-hour BTCUSDT.P set-up, is very similar. According to that analysis, strong buyers’ response could lead a rise toward $72,000. Failure to hold down the green zone of support would maintain a wave structure bearish and increase the likelihood of a decline toward $56,000.
The Next Trading Trends that Traders Will Be Watching
It isn’t that an analyst knows the answer. The market is in a fairly clean zone of decision. The bulls will need to defend that area of low $60,000. They must also reclaim the nearby resistance in order to maintain the recovery. To turn this recent rally into a failed one, the bears will need to break below that zone.
Short-term traders should pay attention to the candles that follow. If the market were to push past $67,000, it would strengthen recovery arguments. A daily close under $60,000 will likely increase the voices of the breakdown camp. Bitcoin is stuck until then in the high-tension zone where both sides can make a technical case.
This report was based upon information provided by TradingView heniitrading The following are some examples of how to get started: TradingView weslad The following are some examples of how to get started: TradingView behdark.
This article has been written and edited by News Desk. Samuel Rae.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: www.newsbtc.com
