[Fun]Is $60000 now the resistance

[EL MOHA]

Have you noticed how the market is always attracted to big liquidities? For me, the market is going to wipe out those big liquidities; it always happens. Even if we have a good or bad market situation, they always want to absorb all liquidity first before going to the original direction.

The market usually chases after the liquidity and nothing more. Once there is a cluster of liquidity at a certain price either a particular price which is lot of stop loss or resistance the market actually chases those prices or even places where there is lots of orders. If there is a huge liquidation around the $56000 I am very optimistic that before the market moves in any direction it will trigger this price and clears the liquidity there before it starts to move up or even continue its downward movement.

The $56000 is even a good price for bitcoin to even bottom so it’s a matter of time before it actually comes for that price. I am predicting that the market will do a liquidity sweep around this region just to sweep off the orders there and then it will most likely start moving upward (reverse) but won’t be a change in trend again until its break below it and bottom at $50000 which also has large liquidity there to be triggered or sweep before we head for a change of trend,

[STT]

Volume bias, gravity effect does seem to be a thing.  It doesnt mean we know direction but the way the market deals with that potential support/resistance is what determines strength likely to continue.  Any one off effect doesnt mean much vs a repeated trend, problem is we are drifting without much of a trend right now so it appears it can go either way.

  I think we'll continue in a flat spin, which can be a negative but mostly I think its a delay till autumn or whenever actual volume occurs and hopefully a proper trend is formed.

[As-Soon-As]

The price of Bitcoin has dropped significantly and has broken the $60k level, but while it may seem bad on one hand, it is also a benefit on the other hand because there is a lot of opportunity to invest in Bitcoin. Only those who can use this opportunity to invest in Bitcoin for the future will be able to benefit as a good investment, but I say that no matter how low the price of Bitcoin is, you will not be deprived of investing in Bitcoin.
Invest in Bitcoin and you will be guaranteed to be more successful, so you should never be careless in investing in Bitcoin. The price of Bitcoin will continue to improve, and the $60k  level will be strong.

[AprilioMP]

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.

It's difficult to say whether $60,000 is a resistance level. In the days following this post, there's only one day left until the new month, from June to July. The Bitcoin price is still hovering around $60,000 and slightly below.
From its all-time high, it has already fallen by half.
For now, there are no signs of a significant rise or a significant decline. In another half year, the price will rise again, possibly returning to $80,000.

[Futurexxx]

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.

You are right about your analysis here because if you look at the candle stick on the monthly timeframe, it's already a bearish engulfing candle stick, which shows that their is enough sellers in the market to push the price of Bitcoin down to the level of $46k, which have a very strong support, but this would not happen in quick succession because it's happening on a monthly timeframe, but the whole direction of the market at present is moving slowing to $46k support where anything can still happen there, depending on the actions of traders in the market. So looking for any available opportunity to short the market is the best way forward at this point, since the market is on a down trend.

[Ishicryptic]

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.

It's difficult to say whether $60,000 is a resistance level. In the days following this post, there's only one day left until the new month, from June to July. The Bitcoin price is still hovering around $60,000 and slightly below.
From its all-time high, it has already fallen by half.
For now, there are no signs of a significant rise or a significant decline. In another half year, the price will rise again, possibly returning to $80,000.

Right now we're at a position where it is quite difficult to fairly predict where price is headed from here because some of us didn't see Bitcoin slumping bellow $60k and now that it is the reality so it is not easy to confidently say whether we are heading to uptrend or downturn. I think to expect Bitcoin to significantly break this resistence we have to look beyond the short term speculations and wait for Bitcoin to fully recover on the long term. I also think that the most we can do now as investors is to buy dip and hold for as long as it takes before bull run which we are quite certain that it would come.

[aoluain]

My thinking is still that we have yet to see the bottom odf the Bear market.

There was a positive vibe when the market reached $75k in this Bear market and many thought it was
an end to the Bear market or that we werent weven it one. The market may very well climb back past $60k
again but I think we will experience 'lower highs and lower lows'

There may be some resistance if the market climbs back past $60k but it wont hold. Thats how I see it.

[rezakurnia66]

Bitcoin price area $60k looks stable and resistance for several days or almost one month, after significant decreasing until $80 in last two months ago looks right now bitcoin always stable and difficult break out from area $60k. Today bitcoin price almost hit to $60k but without few hours bitcoin drop back under $60k, in last one week I don't know how easily bitcoin pump and dump after hitting higher price by increasing around 2 to 3% in short moment go back drop to lower price.

Likely we close this month out from expectation for bitcoin will hit above $67k to $70k, seems still stable around $60k if get increasing to higher price difficult keep defend on higher before bitcoin going back to lower price.

[AprilioMP]

It's difficult to say whether $60,000 is a resistance level. In the days following this post, there's only one day left until the new month, from June to July. The Bitcoin price is still hovering around $60,000 and slightly below.
From its all-time high, it has already fallen by half.
For now, there are no signs of a significant rise or a significant decline. In another half year, the price will rise again, possibly returning to $80,000.

Right now we're at a position where it is quite difficult to fairly predict where price is headed from here because some of us didn't see Bitcoin slumping bellow $60k and now that it is the reality so it is not easy to confidently say whether we are heading to uptrend or downturn. I think to expect Bitcoin to significantly break this resistence we have to look beyond the short term speculations and wait for Bitcoin to fully recover on the long term. I also think that the most we can do now as investors is to buy dip and hold for as long as it takes before bull run which we are quite certain that it would come.

Accurate predictions are not easy to make, and it’s rare for a prediction to be as accurate as the analysis suggests—in the end, it’s often far from it. That’s why people say the crypto market is highly volatile. When someone goes to sleep expecting the price to be at a certain level, they wake up to find that the price has already changed.

The best approach is to buy whenever you have the funds to do so—not when the price reaches a specific level. If you wait for the price to drop, the question arises: exactly what price are you waiting for? If it doesn’t drop, you won’t buy. In the end, you’ll regret it.
Have fun

[knowngunman]

And now we are back and stronger to $60k+ 

But there's no certainty yet. Let’s see what happens in the coming days before we conclude if this is just a resistance or confirmed support. We’re familiar with the game already where we bounce back to trap bulls and then suddenly dump again.

If we can get 2-3 daily closes above $60k and then dip slowly and retest it as support then we can say $60k flipped. But for now, despite being above $61k I still treat it as resistance until proven otherwise.

[summonerrk]

CryptoQuant's observations suggest another reason to believe Bitcoin's price is only headed up right now:



The blue color indicates the share of coins in profits – 46.9% – and judging by previous achievements of these values, this has often led to reversals: 2015, 2019, 2020, 2023 – it was always the same.
When combined with the information that Bitcoin is currently holding around 60k, without a sharp decline (under all current circumstances), this adds up to a perfectly viable scenario.
I understand that this is not an exact forecast, but this is just another part of the section to understand the current situation around 60k.

[Aanuoluwatofunmi]

For now, we should not expect $60,000 to be the resistance to Bitcoin market price performance this month of July. Instead, I'm seeing it as a supporting level for this month and we can also have $70,000 as resistance for now, you can also verify this from the chart and discover what the market price is going to be for July, so we should expect something similar within this range and nothing further below the market price we have already seen for $60,000 this month

[STT]

I'm so keen to be optimistic I drew in a trend line from the lows, 4hr bars there is a regular climb in play and no hesitation at 60k.   We even went through the weekly average without much pause and next target overhead would be monthly average at about 64k.   Any consolidation above 60k would be good to see as there is some volume in that area but I dont see that its especially significant to limit progress for BTC.

[LogitechMouse]

I'm so keen to be optimistic I drew in a trend line from the lows, 4hr bars there is a regular climb in play and no hesitation at 60k.   We even went through the weekly average without much pause and next target overhead would be monthly average at about 64k.   Any consolidation above 60k would be good to see as there is some volume in that area but I dont see that its especially significant to limit progress for BTC.

I guess it's safe to say that for now, $60,000 is acting as a support. A resistance-turned-support.

Anyway, looking at the charts, there's a bullish Order Block at the $59,000 price area and a Fair value Gap above it as well so we might see it being filled in the next few days before it goes up to even higher prices... or it could be the opposite where it just disrespects those Point of Interests. Nevertheless, $60,000 right now is the acting support now that Bitcoin remained above it for a while.

We are coming at the end of the week already and we know that during weekends, market manipulation sometimes happens because of low trading volume.

[Zy_sat]

The price of Bitcoin has dropped significantly and has broken the $60k level, but while it may seem bad on one hand, it is also a benefit on the other hand because there is a lot of opportunity to invest in Bitcoin. Only those who can use this opportunity to invest in Bitcoin for the future will be able to benefit as a good investment, but I say that no matter how low the price of Bitcoin is, you will not be deprived of investing in Bitcoin.
Invest in Bitcoin and you will be guaranteed to be more successful, so you should never be careless in investing in Bitcoin. The price of Bitcoin will continue to improve, and the $60k  level will be strong.

I like for having a positive sight on this moment.
We have seen it today that the BTC price is growing up, this is not an unexpected thing happening. Many people who hodl the BTC already known this trend. As BTC is a long term investment, we need to understand that the main point is by understanding the market, current world situation that impacted to the crypto prices.

As of today it is growing to $61K, and last week many people desperately sharing many thoughts and lose hope on this. This is a fluctuating statistic we will face day by day, so being smart and calculated is a main point. No need to worry too much for the drop, it may be growing slowly as well. What do you think about someone who hodl the BTC from 2012, right now, they might be seeing the chart as easy because they were investing and doing hodl in a right way. They are financially stable even they sold all their BTC bought from the 2012 era. Being smart, is a must on this.

[fillippone]

I guess the bottom is not in yet.
Bitcoin recovery has been too fragile, and there are massive liquidation clusters at 58,000 USD and 56,000 USD.
These are too obvious targets to get liquidated before bouncing back, toward the end of the year.
If you are not a trader, these are fantastic times to get long sats.

 

[arwin100]

I guess the bottom is not in yet.
Bitcoin recovery has been too fragile, and there are massive liquidation clusters at 58,000 USD and 56,000 USD.
These are too obvious targets to get liquidated before bouncing back, toward the end of the year.
If you are not a trader, these are fantastic times to get long sats.

 

It seems that we might see Bitcoin to visit that $58k to $56k, because on that level it seems that there are lots of position which is waiting to be cleared. So price deep in that case is not actually surprising if this will going to happen.

It really make sense for people doing trade to pay close attention on that situations or angle, because there's big possibilities that Bitcoin will recover soon. For sure Bitcoin will not continue to decline and there's always room for this coin to grow after those dumps happened. Its indeed to accumulate right now rather than continue to have fear with more dumps to come.

[free-bit.co.in]

It seems that we might see Bitcoin to visit that $58k to $56k, because on that level it seems that there are lots of position which is waiting to be cleared. So price deep in that case is not actually surprising if this will going to happen.

It really make sense for people doing trade to pay close attention on that situations or angle, because there's big possibilities that Bitcoin will recover soon. For sure Bitcoin will not continue to decline and there's always room for this coin to grow after those dumps happened. Its indeed to accumulate right now rather than continue to have fear with more dumps to come.

Bitcoin fell to $57k before recovering to its current level of $63k. Therefore, even if it drops to $56k, it would not be a major or unexpected decline.

I even thought that if history repeats itself, the bottom will not stop at $56k and could fall below $50k.

Bitcoin may not have reached the bottom yet, but I do not think we are too far from it anymore. I also believe this is already a great time to start shopping.