Bitcoin bulls are striving to keep the price above the crucial support level of $56,552.
🐻 Bears Push Below $60,000
On June 24, bears pushed the price below $60,000, but the long tail on the candlestick indicates strong buying at lower levels. Expect bulls to stay active in the $60,000 to $56,552 zone for the next few days. If they fail to defend this support, the BTC/USDT pair could plummet to $50,000.
📈 Key Resistance Level
The 20-day exponential moving average (EMA) at $64,883 is the critical resistance level to watch on the upside. A break and close above this level will suggest the bears are losing control, and the pair may then rally towards $70,000.
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