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$BTC remains under significant technical pressure, with price still trading well below the EMA 100. The bearish structure outlined on June 9 continues to play out.
When that analysis was published, Bitcoin was trading around $62K. It's now at $60,339, having lost the $69K level that previously acted as key support, while the EMA 100 has climbed further to $80,650.
The rejection near $84K in May confirmed that the descending trendline remains intact, keeping the broader trend bearish.
Current price action suggests another move lower, with the $53,500 region standing out as the next major support. This level has been significant since the 2024 accumulation phase and represents the strongest support before $47K.
The outlook remains unchanged. A weekly close back above $69K would begin to improve the technical picture. Until then, rallies are likely to face selling pressure, and the bearish structure remains in control.
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