BTCUSD – 60K barrier limits recovery attempts as larger bears hold grip

BTCUSD falls below 60K mark after another failure to extend recovery from new 2026 low (57992) and register firm break above psychological barrier.

Near-term structure (hourly chart) showed some signs of strengthening that boosted expectations for recovery breaking above congestion in past few sessions.

However, hopes were so far short-lived as larger picture remains firmly bearish (daily chart) that kept barriers at 61300/600 zone (falling 10DMA / Fibo 38.2% of 67250/57992 / 200WMA) out of reach.

Increased risk of retesting 2026 low (57992) and nearby Fibo support at 57816 (61.8% of 15485/126299) should be expected if the price registers another close below 60K, with break lower to signal continuation of larger downtrend and expose next targets at 52500 (Sep 2024 low) and 50K (psychological).

Res: 60000; 60829; 61300; 61600
Sup: 59000; 57992; 57816; 56427