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. The most important resistance is currently around $66K-$67K, where the descending trendline, the horizontal supply zone, and the broader moving-average structure converge.