According to foreign media, Bitcoin had previously been under pressure in the vicinity of approximately $6.12 million, which was then rapidly raised to $6.46 million, but the increase slowed at a high level. According to the article, this round has been crowded out of multiple and empty positions, short-term direction is still not fully clear and the market is turning its attention to 60,000 dollars.

The space has been squeezed out.

The article mentions that before the rebound started, a group of low-level multiple-head silos were first forced to flatten, then the upper resistance was reduced and the price moved up quickly. When the bitcoin rose to the vicinity of $6.46 million, some of the drops in the bets were forced to leave, pushing prices further up.

Such trends are not uncommon in the Bitcoin market. Prices tend to clear the leverage positions at both ends before they take a clearer direction, leading to a marked increase in short-line fluctuations.

There's resistance near $6.46 million.

According to the article, the rebound stalled near $6.46 million, mainly because the region had previously had more intensive deals and had relatively concentrated sales. At the same time, 4-hour-grade kinetic signals began to weaken, indicating that when prices continued to move, the purchasing power did not increase simultaneously.

Similar signs were observed at the solar-line level. According to the article, the market was in a position where it was more likely to have a short-line top, and the rebound therefore did not continue.

Market focus: $61,000 and $60,000

Next, $61,000 is considered the first observation area. According to the article, in the recent period, there have been more payments and stop-loss statements at the lower end of the low point, and prices have tended to converge in more intensive places.

If $6.11 million is lost, the next, more important, support is in the vicinity of $60,000. According to the article, this location has been repeatedly inherited in historical transactions and is therefore more likely to be the next main support belt.

  • First support attention about $61,000
  • Stronger focus around $60,000.
  • If you get back on your feet, $64.65 million, empty or broken.

At the same time, the article states that if Bitcoin were to be clearly received above $6.465,000, the current weak short-line structure would be destroyed. At that time, further attention could be given to the regions of $656 million and $67,000.

Overall, the commentary tends to suggest that bitcoin may still go through a fall test before moving on a more sustained basis.