Key Takeaways:
Bitcoin’s daily RSI hit 16 on June 6, 2026, one of the most oversold readings in recent months, while price held above the $59,100 swing low.All 13 moving averages on Bitstamp’s chart flag bearish signals, with the 200-period EMA sitting at $80,090, well above the current price.Traders are assigning a 35% probability to a relief rally toward $65,000, with a 20% chance of renewed breakdown below $59,100.Traders tracking this timeframe see the $60,000 to $60,500 zone as a potential entry area for traders with a tight risk tolerance, targeting $61,800, $63,500, and $65,000 as the nearest resistance levels. A close below $59,100 would invalidate that thesis.
Every major moving average sits above the current price, the daily chart has not printed a reversal candle, and a close below $59,100 resets downside targets toward $56,000 and potentially $54,000.
