[Fun]Is $60000 now the resistance

[Oshosondy]

This poll will end in 3 days from now.

Bitcoin has fallen below $60000 several times now, but this one was very massive as it happened within few minutes. United States stocks has something to do with this as they fall also, but this is not what we want to discuss about.

My main question is that will bitcoin still go above $60000 and make it a support again? That level is getting weak already.

[BitMaxz]

We are approaching the weekend where sometimes the price shows unexpected moves, but since the momentum is still high and still a downtrend for me, the $60k level will become a resistance level.
However, sometimes the market takes liquidity above the resistance level before it goes down.

[Dunamisx]

This new week we are getting into will definitely tell more about if $60,000 is going to be a resistance or a support for the market price, we should also consider that we are already at the end of the month and which mostly signals for the fall of the market, at this time it is more of a decision period whether we are going more bullish or bearish at $60,000.

[EarnOnVictor]

My main question is that will bitcoin still go above $60000 and make it a support again? That level is getting weak already.

I couldn't choose a yes or no in the poll because that level will soon become a joke, for it is not a strong level at this point. By virtue, it will act as a support this hour/day, and before you know it, it might act as a resistance in the next hour/day.

However, what I am most certain of is that the level will be defeated sooner or later. The market might still dangle around it for a while for breathtaking activities, but with time, the sellers will prevail against it, and it will become a resistance level for a reasonable while.

[BitMaxz]

This new week we are getting into will definitely tell more about if $60,000 is going to be a resistance or a support for the market price, we should also consider that we are already at the end of the month and which mostly signals for the fall of the market, at this time it is more of a decision period whether we are going more bullish or bearish at $60,000.

I don't think this is a decision period; the price has already broken from short consolidation (consolidation should be where the decision-making period is).
They already decided to break the $60k level, but I have another scenario here since manipulation is pretty common in crypto; this might be a bearish trap or liquidity grab to make it look like we are still in a bearish trend so that institutions can buy and pump the price later or absorb all those passive sellers before the price shifts back to bullish.

However, like I said, as a trader, we can't go against the trend; the bearish momentum is still strong, so my scenario above still has a higher possibility than this 2nd scenario.

[STT]

Its neither but I voted no, the whole area here is 2024 prior volume.   Doesn't have to be a precise number with zeros on the end to be support or resistance, the price we're closing today at is the April low for 2 years ago.
   Its not incredibly hard to get past but we do have volume in this price area and people who have stacked orders to sell based on the prices have acquired BTC at, mostly it means we move slower in these prices not stop.

[yhiaali3]

It is not yet clear whether the $60,000 level will represent resistance or support for the market price; however, I voted "no" because I believe it will be support and not resistance, at least in the near foreseeable future.

For this level to become a stable resistance that is difficult to break through, certain technical signals are required, such as a retest and failure or a decrease in trading volumes on the rise that reflects the absence of big buyers (whales and institutions), in addition to the continuation of the basic negative factors such as the continued outflow of liquidity from ETFs and the Federal Reserve’s tight policy.

[MarjorieZimmermanGinger]

Bitcoin has fallen below $60000 several times now, but this one was very massive as it happened within few minutes. United States stocks has something to do with this as they fall also, but this is not what we want to discuss about.

My main question is that will bitcoin still go above $60000 and make it a support again? That level is getting weak already.

For now it's difficult to decide what to do next and I personally prefer to see the trajectory beyond the end of this month. Furthermore, Bitcoin isn't the only one experiencing a significant decline almost all other assets have also experienced it. All stocks, gold and other assets are experiencing the same conditions, making it difficult to make decisions in the current situation. Hopefully, it will but how can Bitcoin support the market beyond that price with strong support? Otherwise, we'll see Bitcoin stagnate at its current price.

In conditions like these, it's a bit advantageous for long-term investors because they can determine entry points at various price levels. For traders, analyzing Bitcoin's trajectory may be difficult, as its price tends to fluctuate so quickly and erratically that making the wrong decision can result in significant losses.

[Don Pedro Dinero]

My main question is that will bitcoin still go above $60000 and make it a support again? That level is getting weak already.

It’s close to $60,000, but I doubt it will act as support. I think it’s quite clear that the price is going to keep falling in the near future. There’s too much FUD in the market, especially with the biggest buyer of bitcoin in recent years. I wouldn’t be surprised to see the price at around $40,000 or so later this year.

[GreatArkansas]

Already knew this was going to be the resistance a few weeks ago, when we dropped to around $59,000.
It was a sign already. Now we are already at $59,000.

I'm just hoping the monthly candle will not close below $60,000. I'm not ready for it.

[Oshosondy]

Bitcoin has fallen back below $60000 not long ago, and its price is now at $58800. I think we are getting it clear already that $60000 is becoming the resistant price. It is possible that bitcoin may later fall more, but I think we are getting close to the bottom already. People have more opportunities now to get in.

[Bitcoin_people]

This poll will end in 3 days from now.

Bitcoin has fallen below $60000 several times now, but this one was very massive as it happened within few minutes. United States stocks has something to do with this as they fall also, but this is not what we want to discuss about.

My main question is that will bitcoin still go above $60000 and make it a support again? That level is getting weak already.

I think $60k will be a strong support, if it stays above this price and can create a stable market, then it is expected. Since the Bitcoin market has already gone much deeper in a very short time and has faced a decline, where we have seen a lot of decline in the stock market, Bitcoin has fallen. However, $60k will be a strong support if buyers continue to buy and not sell, they are patient and at that time the market will not break, but it will create a strong support. I think that the market has already been in $60k, of course, it is to create a strong support and the market is starting to stabilize and move forward slowly.

[kingstep]

My main question is that will bitcoin still go above $60000 and make it a support again? That level is getting weak already.

If we believe that we will eventually see another ATH with time, it only means that this question does not hold ground for long. we will see $70k standing as the resistance, $80 will do it for a time and till we go past the last ATH, there will be several resistance that will only last for a moment and that it all becomes a thing of the past. anticipating bitcoin going above what we have now.

[yudi09]

June is almost over, and July is just around the corner. With the market still struggling to break above the $60,000 price level, I currently assess that $60,000 will act as a resistance level, although the situation could change within a matter of days.
The momentum to rebound from the $60,000 price level still appears weak. We’ll have to wait until the second week of July to see if a change occurs or if prices remain at this level. Have fun.

[LFC_Bitcoin]

It could be, people get hung up on round numbers and whales know it. I don’t think the bottom is in for this cycle yet but 60k means nothing. We will be much higher in 2-3 years so it doesn’t matter all that much if you buy at 52k or 60k.

[JeffBrad12]

Yes, I guess and nearest supply zone that could potentially become another strong resistance is $68k.
But right now BTC is having a little rebound, if the support broken and price went past below $60k. Very high potential, it will become future resistance seeing the big selling order if left unfulfilled.