BTC: Bounces Into Daily VWAP on Short Covering

BTC price bounces into daily VWAP after sweeping $60K with spot sellers showing zero follow-through below that level while perpetual futures register short covering without meaningful closures.

Net short positioning dominates perps versus the usual mixed bias and repeatable EU-US session sell volume patterns persist. Relief requires daily VWAP reclaim followed by spot bids plus accelerated short covering on perps with $62K marking the short unwinding threshold and sub-$60K triggering fresh lows. On the 4h chart BTC trades at $61516.53 inside Bollinger bands between $59778.42 support and $68430.69 resistance while the bearish EMA50 at $68094.76 and EMA200 at $74076.65 cap upside and the oversold RSI at 29.84 alongside MACD death cross at -2423.78 signals exhaustion that favors a VWAP test before any sustained relief rally.