$BTC – Critical Support Re-tested, Bulls Defending the Floor
Trading Plan Long $BTC
Entry: 58,100 – 58,900
SL: 57,400
TP 1: 60,500
TP 2: 62,400
TP 3: 65,600
Bitcoin dropped sharply to retest the major psychological support zone around $57,750. However, instead of a breakdown, the 4-hour chart shows consecutive green candles forming a local double-bottom structure right at this key demand zone. The downside momentum is exhausting, and selling volume is noticeably thinning out. As long as the price stabilizes and structures a higher low above $58,000, we can expect a relief rally back toward the exponential moving averages.
Trade $BTC here 👇
What Global Experts & Analysts Are Saying:
CoinDCX Research: Analysts highlight that Bitcoin's immediate future hinges on defending this $58,000 zone. If buyers hold this floor, a recovery path toward $65,600 and eventually $70,000 opens up for July. A weekly close below $58,115, however, would invalidate this bounce.
Binance Technical Index: The 4-hour RSI indicators are flashing a minor bullish divergence within the neutral zone, supporting a short-term price reversal from the current oversold conditions.
Market Analysts (VirtualBacon/ACY Securities): The $58,000 area aligns with historical long-term moving average baselines, which have traditionally acted as a macro accumulation floor where institutional "smart money" steps in to absorb selling pressure
Trading Plan Long $BTC
Entry: 58,100 – 58,900
SL: 57,400
TP 1: 60,500
TP 2: 62,400
TP 3: 65,600
Bitcoin dropped sharply to retest the major psychological support zone around $57,750. However, instead of a breakdown, the 4-hour chart shows consecutive green candles forming a local double-bottom structure right at this key demand zone. The downside momentum is exhausting, and selling volume is noticeably thinning out. As long as the price stabilizes and structures a higher low above $58,000, we can expect a relief rally back toward the exponential moving averages.
Trade $BTC here 👇
What Global Experts & Analysts Are Saying:
CoinDCX Research: Analysts highlight that Bitcoin's immediate future hinges on defending this $58,000 zone. If buyers hold this floor, a recovery path toward $65,600 and eventually $70,000 opens up for July. A weekly close below $58,115, however, would invalidate this bounce.
Binance Technical Index: The 4-hour RSI indicators are flashing a minor bullish divergence within the neutral zone, supporting a short-term price reversal from the current oversold conditions.
Market Analysts (VirtualBacon/ACY Securities): The $58,000 area aligns with historical long-term moving average baselines, which have traditionally acted as a macro accumulation floor where institutional "smart money" steps in to absorb selling pressure