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Bitcoin recent drop toward the 60K zone sparked sharp volatility, and price is now trying to hold above an important demand area. Signals from both short and long timeframes show the market is nearing a crucial turning point, while leverage activity is making price action even more reactive.
Bitcoin Price Analysis: The Daily Chart
On the daily chart Bitcoin is still moving inside a clear downward channel, printing lower highs and lower lows along the way. The latest sell-off pushed the price straight into the 60K–63K demand area, where buyers stepped in and stopped the drop from continuing right away.
That said the overall structure is still bearish. Price remains under the 100-day and 200-day moving averages, and both are trending down, acting as dynamic resistance. The 75K–80K zone has now turned into a strong supply area, lining up with the previous breakdown level and standing as the first big barrier if price tries to recover.
As long as $BTC stays below the middle of the channel and those key moving averages, any bounce should be viewed as a temporary pullback. Holding firmly above the 60K support is crucial, otherwise fresh selling pressure could drag the price deeper inside the channel.
$BTC/USDT 4-Hour Chart
On the 4-hour chart, Bitcoin is moving sideways inside a tightening symmetrical triangle after the strong bounce from the 60K low. This setup shows short-term balance following heavy volatility, with the upper trendline acting as resistance and the rising lower trendline offering near-term support.
Price is now squeezing closer to the apex, suggesting a breakout is getting close. A push above the triangle could send BTC toward the 74K–76K resistance zone, which lines up with the prior breakdown area and nearby supply. If the break happens to the downside, price could revisit the 60K demand zone and possibly extend into a deeper liquidity grab.
Sentiment Analysis
The Estimated Leverage Ratio on Binance has dropped sharply along with price, showing that a large chunk of leveraged positions has already been wiped out. This washout lowers near-term systemic risk and suggests that a lot of the overheated speculative exposure has been cleared.
Leverage is now leveling off at much lower levels compared to earlier highs. This makes an immediate long squeeze less likely, but it also means that if leverage starts building again, it could add fuel to the next move out of this consolidation.
Overall Bitcoin is sitting at a very delicate technical spot. Price is holding above a key daily demand area, short-term price action is tightening, and leverage has reset. The next big move will likely come from a clean breakout of the 4-hour triangle, with 60K as the main downside level and the 75K zone acting as the first major resistance on the upside.
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