BTCUSD – mixed signals, downside remains exposed below the 60K threshold

BTCUSD firmed up on Monday, recovering part of Friday’s losses, but upside attempts remain capped by the key psychological 60K barrier, suggesting gains might be short-lived.

The near-term outlook maintains a slight bullish bias while trading above the 10 DMA (58,440), with the rising and thinning daily Ichimoku cloud likely to attract. However, the lack of stronger positive signals keeps the downside vulnerable, especially as long as the price stays below the 60K pivot.

Negative momentum on the daily chart, combined with the converging 55/200 DMAs potentially forming a death cross and the falling 20 DMA on track for another cross, weigh heavily on near-term action.

A close below the 10 DMA would increase the likelihood of a reversal pattern on the daily chart, potentially leading to a deeper drop toward 57,385 (Fibo 38.2% of 48,738/62,730) and extending to 55,734 (50%).

Traders are awaiting the release of the US CPI data on Wednesday for further direction.

Res: 59428; 60000; 61922; 62171
Sup: 57628; 57385; 55734; 54251