Bitcoin is sliding back toward the $60K support zone after another failed attempt to break through the $66K-$67K resistance area. The pullback comes as the Exchange Whale Ratio's 30-day average climbs near its highest levels, signaling that large holders are moving coins to exchanges — often a precursor to selling.
Resistance holds at $66K-$67K
For months, a descending trendline has capped Bitcoin's upside, and it's now joined by a horizontal supply zone and the major moving averages. The recovery from June's low near $58K built higher lows and pushed price toward that wall, but it never produced a decisive breakout. A daily close above $66K-$67K could open the door to $72K-$74K, but so far the market has rejected that level repeatedly.
The daily RSI sits around the mid-40s and has turned lower, a sign that bullish momentum is fading. Bitcoin remains below the moving averages, which are still sloping downward. That's not a setup that invites aggressive buying.
Support at $60K
Price is now approaching the $60K zone, a level that's likely to attract buyers. It's a round number, a prior consolidation area, and the last line of defense before the June low. A decisive daily breakdown below $60K would increase the probability of a move below $58K and toward $55K.
On the 4-hour chart, Bitcoin is trading inside a contracting triangle — a descending upper trendline and a gradually rising lower boundary. Price is pressing against the lower edge near $62K, with immediate support at $61.5K-$62K. The 4-hour RSI has fallen to the low 30s, showing short-term momentum is weak and approaching oversold territory.
Whale ratio flashes caution
The Exchange Whale Ratio's 30-day moving average has climbed sharply and sits just below 0.32, close to the highest levels over the displayed period. A high whale ratio means large holders account for a relatively big share of coins entering exchanges, which can indicate increased potential selling pressure.
The divergence is notable: whale activity is elevated while price action is weak. If the ratio stays high and Bitcoin loses the $62K zone, on-chain and technical signals would point toward further downside.
What a breakdown would look like
A rebound from the current area could initially target $65K, where the upper boundary of the triangle sits. But a clean 4-hour breakdown below $61.5K-$62K would invalidate the immediate bullish structure and likely expose the $58K-$60K demand zone.
The next few sessions will test whether buyers step in at $60K. If the whale ratio remains elevated and price loses that level, the path of least resistance points lower.
