Bitcoin Price Analysis: Is $60K Back in Play After BTC’s Latest Rejection?

Bitcoin is testing a critical support area after failing to break above the descending resistance structure that has capped the price for months. With BTC trading around $62.7K, the market is approaching a key decision point, while the elevated Exchange Whale Ratio adds a potentially bearish on-chain signal to the technical picture.

Bitcoin Price Analysis: The Daily Chart

The daily chart shows that Bitcoin remains within a broader corrective structure. After recovering from the June low near $58K, BTC established a series of higher lows and climbed toward the $66K resistance zone. However, the recovery has so far failed to produce a decisive breakout, and price has recently turned lower.