Bitcoin Traders Brace for $62K Test After Rebound From $57,735 Low

Bitcoin Fights Back After the June Selloff

The bounce follows a pullback that traders person been calling the June selloff, with bitcoin recovering disconnected a debased adjacent $57,735 and pushing backmost toward the $61,000 mark. Trading volume implicit the past 24 hours reached $44.052 billion, and bitcoin’s marketplace capitalization stood astatine $1.227 trillion.

The betterment has been dependable alternatively than sharp, with buyers stepping successful astatine each dip alternatively than forcing a azygous convulsive determination higher.

Daily Chart Shows a Higher Low Taking Shape

The regular illustration shows bitcoin forming a higher debased disconnected the $57.7k area, a awesome that buyers stepped successful earlier terms could revisit June’s floor. Support sits astatine $59.5k to $60k, past $57.7k beneath that.

BTC/USD 1-day illustration via Bitstamp connected July 2, 2026.

Resistance runs from $61.3k to $62k, with a 2nd partition astatine $64k. Recent regular candles person closed green, suggesting buyers are regaining ground, though the broader regular inclination has not afloat reversed. A regular adjacent supra $61.3k to $62k would fortify the lawsuit for a continued determination higher.

Four-Hour Chart Shows the Strongest Structure of the Three

The 4-hour illustration carries the astir bullish operation among the 3 timeframes tracked. Price has built a tally of higher highs and higher lows since bouncing disconnected $57.7k, and the latest candles are pressing straight into absorption adjacent $61.3k.

BTC/USD 4-hour illustration via Bitstamp connected July 2, 2026.

A breakout supra that level connected beardown volume would unfastened a way toward $62.5k, past $63.5k to $64k. Support connected this timeframe sits adjacent $60k, and a determination beneath $59.6k would enactment the caller uptrend astatine risk.

One-Hour Chart Shows Momentum Starting to Cool

The 1-hour illustration inactive shows a bullish trend, but the astir caller candles are shrinking arsenic terms approaches resistance, a signifier that often comes earlier either a abbreviated consolidation oregon a little pullback.

BTC/USD 1-hour illustration via Bitstamp connected July 2, 2026.

Immediate enactment sits astatine $60.8k to $61k, with stronger enactment underneath astatine $60k. Resistance sits astatine $61.3k, past $62k. A cleanable interruption supra $61.3k connected rising volume would corroborate the adjacent limb higher, portion a gaffe beneath $60k would displacement the short-term bias backmost toward the sellers.

Oscillators Stay Neutral but Momentum and MACD Signal Buy

Oscillator readings for BTC/USD regular illustration connected Bitstamp are mostly neutral, but 2 broke from that pattern. Momentum posted a antagonistic 2,751, a bullish signal, and the moving mean convergence divergence ( MACD) level came successful astatine antagonistic 2,084, besides bullish.

The relative spot index ( RSI) sits astatine 43, the Stochastic astatine 26, the commodity transmission scale (CCI) astatine antagonistic 51, and the mean directional scale (ADX) astatine 37, each neutral. The Awesome oscillator via the regular illustration reads antagonistic 3,892. None of these readings beryllium successful overbought oregon oversold territory, leaving country for terms to determination either direction.

Short-Term Averages Turn Bullish While Longer-Term Averages Stay Bearish

The moving mean (MA) representation splits sharply by timeframe. The 10-period Exponential Moving Average (EMA) sits astatine $60,652 and the 10-period Simple Moving Average (SMA) astatine $60,262, some speechmaking bargain with terms trading supra them.

Every longer mean reads sell: the 20-period EMA astatine $62,047, the 20-period SMA astatine $62,346, the 30-period EMA astatine $63,597, the 30-period SMA astatine $62,443, the 50-period EMA astatine $66,127, the 50-period SMA astatine $67,728, the 100-period EMA astatine $69,929, the 100-period SMA astatine $71,146, the 200-period EMA astatine $76,026, and the 200-period SMA astatine $75,072. That divided leaves bitcoin caught betwixt near-term bargain signals and a longer-term inclination inactive moving against it.

Bull Verdict:

Momentum and the MACD level some flipped to a bullish position, and the 10-period EMA and SMA present beryllium beneath the terms alternatively than supra it. The regular illustration shows a higher debased disconnected $57.7k, the 4-hour illustration shows a tally of higher highs and higher lows, and volume implicit the past 24 hours reached $44.052 billion. A regular adjacent supra $61.3k to $62k confirms the displacement and opens country toward $63.5k to $64k. As agelong arsenic bitcoin holds supra $60k, the short-term operation favors buyers.

Bear Verdict:

Nine of the 12 MAs tracked, from the 20-period done the 200-period, inactive work bearishness, and terms remains good beneath the 50-period EMA astatine $66,127 and the 200-period EMA astatine $76,026. The 1-hour illustration shows momentum cooling into absorption adjacent $61.3k, a signifier that has preceded pullbacks before. A rejection astatine $61.3k connected rising volume, oregon a nonaccomplishment of the $60k enactment level, opens a retest of $59k and perchance the $57.7k debased the betterment started from.