Bitcoin buyers are defending the $59,000–$60,000 support zone after the cryptocurrency briefly fell through several major support levels. BTC is trading near $60,870 as the second quarter approaches its end. Buyers stepped in after Bitcoin swept below the February low and the monthly 50-period simple moving average near $59,305, forming a higher closing low despite the sharp intraday drop. The rebound has not yet confirmed a bullish reversal, with Bitcoin remaining below the weekly 200-period moving average near $62,448, which represents the first major resistance level buyers need to reclaim.
Bitcoin Trades Near $60,870 After Defending Key Support Levels
Bitcoin produced a strong lower wick after briefly falling through several major support levels, showing that buyers stepped in near the $59,000–$60,000 area. The daily chart shows BTC trading near $60,870 after sweeping below the February low, the monthly 50-period simple moving average near $59,305 and the long-term rising trendline. Price later recovered above the deeper support levels.
Bitcoin remains below the weekly 200-period moving average near $62,448. The liquidation map shows large clusters of high-leverage positions above the current price, particularly around $67,000–$69,000, $74,000 and $78,000.
Bitcoin is approaching the end of the second quarter. The key levels are approximately $59,300 as support and $62,400 as the first major resistance.
Bitcoin Tests $60,000 Support for Third Time Since February
Bitcoin is testing the $60,000 support level for the third time. The three-day chart shows BTC trading near $60,800 after returning to the same area that supported price in February and earlier in June. Each previous test produced a rebound.
According to CryptoCurb, Bitcoin must recover above $65,000 to strengthen the setup and show that buyers are regaining control. The projected path on the chart suggests that a breakout could first take BTC toward $70,000, followed by resistance around $80,000. The longer-term projection extends above $100,000.
For now, $60,000 remains the key support, while $65,000 is the level bulls need to reclaim according to the analysis.
FAQ
What support level is Bitcoin currently defending?
Bitcoin buyers are defending the $59,000–$60,000 support zone, with BTC trading near $60,870 after briefly falling through several major support levels including the February low and the monthly 50-period simple moving average near $59,305.
What resistance level must Bitcoin reclaim according to analysts?
According to CryptoCurb, Bitcoin must recover above $65,000 to strengthen the setup and show that buyers are regaining control. The weekly 200-period moving average near $62,448 represents the first major resistance level.
How many times has Bitcoin tested the $60,000 support level recently?
Bitcoin is testing the $60,000 support level for the third time, with previous tests occurring in February and earlier in June. Each previous test produced a rebound.
