Coinbase Analysis: Bitcoin Could Slide to This Key Level Before Bounce
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Bitcoin briefly surged past $66,000 after President Trump's State of the Union address, but analysis indicates a critical support at $60,000. If this support fails, it could lead to increased selling pressure. A sustained recovery is only possible if Bitcoin reclaims the $82,000 level, which is crucial for bullish momentum.
Bitcoin’s brief rebound above $66,000 following U.S. President Donald Trump’s State of the Union address has done little to shift the underlying market structure, with fresh analysis from Coinbase Institutional pointing to a critical support zone near $60,000 that, if broken, could trigger accelerated selling.
The combination of options market dynamics and on-chain data suggests the path of least resistance remains lower, with any sustained recovery likely requiring a reclaim of $82,000, a level that currently stands as the first major hurdle to renewed upside momentum.
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Coinbase Analysis: Bitcoin Could Slide to This Key Level Before Bounce
Share:
Bitcoin briefly surged past $66,000 after President Trump's State of the Union address, but analysis indicates a critical support at $60,000. If this support fails, it could lead to increased selling pressure. A sustained recovery is only possible if Bitcoin reclaims the $82,000 level, which is crucial for bullish momentum.
Bitcoin’s brief rebound above $66,000 following U.S. President Donald Trump’s State of the Union address has done little to shift the underlying market structure, with fresh analysis from Coinbase Institutional pointing to a critical support zone near $60,000 that, if broken, could trigger accelerated selling.
The combination of options market dynamics and on-chain data suggests the path of least resistance remains lower, with any sustained recovery likely requiring a reclaim of $82,000, a level that currently stands as the first major hurdle to renewed upside momentum.
In This News
Share:
In This News
Share:
Read More
The $33 Billion Drain: Bitcoin Realized Cap Craters as Capital Abandons the Network for a Second Month