News View Non-AMP

Bitcoin Price Prediction: Bearish Reversal And $60k Retest on Cards

Published by
Anjali Belgaumkar

As Bitcoin tests critical levels, there’s potential for a shift from bullish to bearish momentum. This level, which previously acted as resistance, is now expected to serve as support. If Bitcoin can maintain its position above this critical level—around $65,000 to $67,000—it could mean a continued bullish trend. However, a confirmed break below this threshold, especially with a candle close on the 2-day chart, would mean a bearish reversal and impact Bitcoin price prediction.

Analyst Josh of Crypto World said that in the daily chart, Bitcoin has slipped below a previous resistance range of approximately $66,800 to $68,300. The next major support area to watch is between $64,100 and $64,500. If Bitcoin fails to hold above this support, it could drop further to $63,000 or potentially down to the $60,000 to $61,000 range.

Effects of Breakout and Invalidation

Should Bitcoin break below the $65,000 mark, it would suggest that the recent breakout was a false move, or “fake-out,” lacking follow-through. This would invalidate the bullish breakout that occurred about a week ago, raising concerns among traders.

Bearish Divergence on Shorter Time Frames

The chart reveals an active bearish divergence that has started to manifest as a short-term pullback. This pattern often leads to price corrections. Interestingly, the RSI (Relative Strength Index) on is entering oversold territory, suggesting we may see a bounce or sideways action soon, potentially stabilizing the price.

Current Market Sentiment

Recent market dynamics hint at a long squeeze in play, contributing to bearish sentiment. This long liquidation has added sell pressure to Bitcoin’s price, aligning with the bearish trends observed in the charts.

Looking at the Bitcoin liquidation heat map, there is substantial liquidity building to the downside, particularly around $64,800 to $64,200. If Bitcoin breaks through these levels, we might see further liquidation events.

Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

Recent Posts

80,000 BTC Moved After 14 Years: Mystery Transfer or Massive Hack?

Something strange just happened in the Bitcoin world this week as nearly 80,000 Bitcoin, mined…

July 5, 2025

Brazil’s Central Bank Probes $140M Crypto Laundering After Hack

In a cyber heist on June 30, hackers stole approximately $140 million (R$800 million) by breaching…

July 5, 2025

Why Crypto Market is Down Today? (05th July, 2025)

The crypto market today has experienced a broad-based downturn today, with the total industry market…

July 5, 2025

Bitcoin Price Crash Coming? Analyst Predicts 80% Drop Soon

Bitcoin may seem bullish right now, but a leading crypto analyst has issued a shocking…

July 5, 2025

Turkey Blocks 46 Crypto Sites, Including PancakeSwap Amid Regulatory Crackdown

The Turkish Capital Markets Board (CMB) has blocked 46 websites, including the popular decentralized exchange…

July 5, 2025

Will Pi Network Price Hit $1 in 2025?

Pi Network’s native token is undergoing a turbulent phase. Currently trading at $0.4710, the coin…

July 5, 2025