Key to watch in the marketThe crypto market is in a crucial liquidity rebalancing phase. After hitting high zones earlier this month, the current price action is testing the conviction of buyers and wiping out excessive leverage in the derivatives markets.Let's analyze the technical structure of the two giants:
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Live Candlestick Chart for BTC
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(Insert your candlestick widget for $BTC here)$BTC is trading in a tight range around the $64,000 zone. After momentarily losing support at $65,000 due to ETF outflows and profit-taking, the price is seeking institutional support.
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Key zones: The daily RSI is touching neutral/oversold levels. A sustained close of 4-hour candles below $62,000 would open the door for a larger correction towards $59,000. Conversely, reclaiming the immediate resistance of $66,300 would reactivate the bullish structure towards new targets.
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Live Candlestick Chart for BTC
👇
(Insert your candlestick widget for $BTC here)$BTC is trading in a tight range around the $64,000 zone. After momentarily losing support at $65,000 due to ETF outflows and profit-taking, the price is seeking institutional support.
🚨
Key zones: The daily RSI is touching neutral/oversold levels. A sustained close of 4-hour candles below $62,000 would open the door for a larger correction towards $59,000. Conversely, reclaiming the immediate resistance of $66,300 would reactivate the bullish structure towards new targets.
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