โ๐จ BITCOIN CRITICAL ALERT:
$BTC Breaks Below $61K | Testing $59K Support! ๐๐ฅ
โThe crypto king is facing severe bearish pressure as Bitcoin (
$BTC ) slices down through major psychological zones, currently trading at $60,486.5 (-0.19%). Panic selling intensified today, pushing the price down to an extreme 24h low of $59,064.0 from a high of $61,969.9.
โ๐ TECHNICAL BREAKDOWN (1h Chart)
โSupertrend Heavy Resistance: The 1-Hour Supertrend indicator is strictly bearish (red cloud), placing a solid dynamic overhead resistance right at $62,604.4. Bullish momentum cannot return until BTC breaks and closes above this zone.
โMassive Volume Outflow: The On-Balance Volume (OBV) has plunged deep into negative territory at -159,732.4, confirming that continuous heavy distribution and institutional selling are driving this market dump.
โRSI Near Deep Oversold: The RSI(6) is struggling at 38.5. Although it bounced slightly from the sub-$60K drop, the buying volume is too weak to sustain a proper trend reversal right now.
โโ ๏ธ RISK MANAGEMENT: Bitcoin dropping to $59K is a major warning sign for all altcoins. Avoid high leverage and do not try to guess the bottom in a volatile downward cascade!
โ๐ Is Bitcoin going to smash below $58K next, or will the $60,000 psychological support hold? Put your comments below! ๐
โ
#Bitcoin #BTCUSDC #cryptocrash #BinanceSquare #TechnicalAnalysis