Bitcoin sellers are trying to keep BTC price below $60K

BTC price upside momentum is building, but liquidity is bunching at $60,000 in an attempt to keep the market from reclaiming lost ground.

• Bitcoin closed in on $60,000 on July 10 as bulls fought for key trendline support.
• Swift gains into the Asia trading session left BTC/USD up 1.5% at the time of writing, with the pair bouncing from classic “oversold” conditions.
• These had been widely discussed by market participants, in particular the relative strength index (RSI), which circled its lowest levels in 10 months.

BTC price RSI delivers classic rebound

Data from Cointelegraph Markets Pro and TradingView confirmed Bitcoin (BTC) price highs of $59,459 on Bitstamp on the day.

“Bullish divergences on the daily confirmed,” popular trader Daan Crypto Trades wrote in part of a post on X on July 9.

“Be on the look out for an overall high timeframe break out on the daily RSI at some point in the future.”

Bitcoin bears line up resistance of last resort

The latest data from monitoring resource CoinGlass meanwhile showed thin liquidity at that key level but building at the time of writing, with the majority cleared during the day’s push higher.

“Bitcoin is now challenging the 1.5-month Downtrend for a breakout attempt,” Rekt Capital continued.

Current BTC price activity includes a battle for both the 99-day and 200-day moving averages (MAs), with BTC/USD now sandwiched between them.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.