BTC Drops 5.1% — Technical Analysis Alert
Price
$59,686
Move
-5.1%
RSI
33.4
Signal
WEAK BULLISH
Analysis
BTC dropped 5.1% to $59,686 at 10:15 UTC, per Binance spot data. CoinGlass data shows $192 million in long liquidations over the past hour, pushing RSI to 33.4. The model Score of 7 signals weak bullish, yet US spot ETF outflows of $65 million yesterday, per Farside data, added net selling weight. Support rests at $59,128, the swing low from June 24, with resistance at $63,759, the pivot R1 level per TradingView data. A break below $59,128 targets $57,400, the next volume cluster from last week's range, according to CoinGlass heatmap data. If $63,759 flips to support, $66,200 becomes the next target within 48 hours, based on the 1-hour order book imbalance at Binance.
▲ RSI(14)▲ MACD(12,26,9)▼ EMA Trend▲ Bollinger Bands● Volume
Support & Resistance
| Level | Price | Distance |
|---|---|---|
| EMA200 | $79,457 | +33.1% |
| Pivot R3 | $70,038 | +17.3% |
| Pivot R2 | $67,831 | +13.6% |
| Pivot R1 | $63,759 | +6.8% |
| Current Price | $59,686 | — |
| Swing Low | $59,128 | -0.9% |
| Pivot S1 | $57,479 | -3.7% |
| Pivot S2 | $55,272 | -7.4% |
| Pivot S3 | $51,200 | -14.2% |
Trade Setup: LONG
Entry
$59,686
Stop Loss
$56,183
-5.9%
TP1 (R:R 1.33)
$64,356
+7.8%
TP2 (R:R 2.33)
$67,859
+13.7%
TP3 (R:R 3.67)
$72,529
+21.5%
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry significant risk. Always do your own research and never invest more than you can afford to lose. This article may contain affiliate links.
