BTC: Breaks Below 21-Day SMA Support

BTC price sliced through 21-Day SMA support on the July 8 session. Traders now await candle close to confirm any R/S flip while the Q3 open at $58.5k looms as the next major downside magnet and a thick buy wall sits at $61.5k.

Bitcoin technical analysis on the 4h chart reveals price at $62025.27 probing the lower Bollinger Band support at $62039.74. The EMA50 at $62358.37 acts as immediate resistance inside a bearish structure defined by the EMA200 at $64188.49. MACD registers a death cross at 119.11 while RSI holds neutral at 42.3, creating confluence that favors a retest of the $61.5k wall before any deeper probe toward Q3 levels.

BTC price prediction models and crypto support levels tracking show this move remains structural rather than wick-driven, with volume profile and timescape levels dictating the next directional bias.