Bitcoin remains trapped beneath a major resistance cluster after failing to sustain last week’s recovery. The latest price action has shifted back in favor of the bears, with $BTC breaking below its short-term rising structure and once again moving toward the lower boundary of its recent range.
Bitcoin Price Analysis: The Daily Chart
On the daily timeframe, $BTC continues to trade below the first major supply zone between $65K and $68K. After briefly recovering into this area, sellers regained control and pushed the market lower, reinforcing the importance of this resistance region.
The recent rejection also keeps $BTC below the 100-day moving average near $73K and well below the 200-day moving average around $77K, maintaining the broader bearish structure.
The most important support remains the $59K to $61K demand zone, which has repeatedly attracted buyers throughout June. However, each rebound from this area has produced a lower high, suggesting that bullish momentum is gradually fading.
As long as $BTC remains below $68K, the market remains vulnerable to another test of the $60K support region. A decisive breakdown beneath this zone could expose the next major support area around $54K to $56K.
$BTC/USDT 4-Hour Chart
The 4-hour chart paints a more bearish picture in the short term. $BTC recently broke below its ascending recovery channel after another rejection from the $65K to $68K supply zone.
More importantly, the latest recovery attempt failed to produce a new high and instead formed another lower high near $65K before sellers stepped back in. Price is now trading around $63K and moving toward the lower end of the recent range.
The loss of the rising trendline is a notable development because it signals weakening short-term momentum. Unless buyers quickly reclaim the $64K to $65K area, the probability of another move toward the $60K to $61K support zone remains elevated.
The immediate resistance remains the $65K to $68K supply region, while the blue support zone around $60K is the key level that bulls must defend.
Sentiment Analysis
The Binance $BTC liquidation heatmap highlights a substantial concentration of liquidity beneath the current market price, making the downside particularly interesting from a liquidity perspective.
While liquidity exists above the market around $70K, $75K, and higher levels, the most significant and closest cluster is located below the current price action. Large liquidation pools can be seen around the $59K to $60K region, with even larger concentrations extending toward $55K and roughly $50K to $52K.
Since markets often gravitate toward large liquidity concentrations, this setup suggests that downside liquidity remains largely untapped. The repeated failures beneath the $65K to $68K supply zone further increase the risk that $BTC eventually breaks below the $60K support area to target these lower-liquidity pockets.
In other words, while the $60K region continues to act as support, it is also sitting directly above a substantial liquidity vacuum. If sellers manage to force a decisive breakdown, the move could accelerate as the market seeks larger liquidation clusters between $55K and $50K.
For now, the key battle remains at $60K to $61K, but the heatmap suggests that the larger liquidity incentive currently resides below the market rather than above it, leaving the risk skewed toward an eventual downside sweep if support fails.
