Bitcoin Bearish MACD Cross: Is $60K the Next Buy Zone?
In short:Simon and the ParadiseTeam stay short-term bearish on Bitcoin after a bearish MACD cross and a break below the ascending trend line. He sees the fifth wave up likely complete near $65,000, expects a. . .
In short:Simon and the ParadiseTeam stay short-term bearish on Bitcoin after a bearish MACD cross and a break below the ascending trend line. He sees the fifth wave up likely complete near $65,000, expects a move down. And marks the $60,000 to $59,000 zone as his preferred high-probability buy on confirmation. Is Bitcoin about to crash to $60,000?Not guaranteed, but Simon leans that way short term. Bitcoin has broken below theascending trend lineand printed abearish MACD cross. So the ParadiseTeam sees the next big move pointing down toward the$60,000 to $59,000zone. He stresses this needs confirmation. Price sits squeezed between support and resistance, so patience matters before acting. Simon frames$57,000as a low-probability extreme, held up by strong support below. Why is the fifth wave up likely finished?On the weekly, Simon reads Bitcoin in thefinal fifth wave, with a possible push toward $79,000 later before a rejection. On the daily, he counts an A-B-C structure where theC waveis now forming. The recent five moves up look complete near$65,000, exactly the lower boundary of his resistance zone. That raises the odds of a pullback. A move to $67,000 or $69,000 stays possible but low probability while price holds below the trend line. What key Bitcoin levels is Simon watching?Simon marks tight levels. Immediate support sits at$63,600and the ascending trend line acts as resistance near$64,700, leaving price squeezed in between. Above, $65,000 still acts as resistance, with another confluence at $66,450 and targets at $67,000 and $69,000. Below, his preferred buy zone is$60,000 to $59,000. More level-by-level reads sit in theBitcoin analysis hub. What do funding and liquidations show?Positioning looks crowded long. Simon notes81%of market funding is positive and funding rates are heating up, though still mild for thin summer liquidity. Thecrypto funding rates boardtracks this in real time. On the 30-day view an imbalance remains. A push down toward $59,000 would liquidate around$6 billionin longs, versus roughly $3 billion of shorts on the upside. Fear and greed reads neutral, and the squeeze probability sits near 16%, already warm. Why is a long position a no-go right now?Because the odds and the math both point against it. With the five-wave move up likely done and price under strong resistance, Simon calls a long here a no-go onrisk-rewardgrounds. A long entry would need a stop below the low, and the first target near $65,000 offers thin reward. He would rather wait for the$60,000 to $59,000zone. This guide onposition sizing and capital preservationmirrors that discipline. Frequently asked questionsIs Bitcoin going to crash to $60,000?Simon sees the next big move likely pointing down, with the $60,000 to $59,000 zone as his target and preferred buy area. He calls $57,000 a low-probability extreme because strong support sits below. He stresses this is short-term and needs confirmation before he would act on it. Where does Simon want to buy Bitcoin?His preferred high-probability entry is the $60,000 to $59,000 zone, and only on confirmation. He points to multiple confluences there and better risk-reward than chasing a long near current price. Until price reaches that area or reclaims key levels, he favors patience over forcing a trade. What does the bearish MACD cross mean here?The bearish MACD cross, alongside a bearish RSI cross and declining bullish volume, signals fading upside momentum to Simon. He reads it as the bulls getting weaker as price pushes higher. A confirmed continuation lower on the RSI trend line would reinforce his short-term bearish view. What are the key Bitcoin levels in this video?Simon watches immediate support at $63,600 and trend-line resistance near $64,700, with price squeezed between them. Above sit $65,000, $66,450, $67,000 and $69,000. Below, his buy zone is $60,000 to $59,000, and he views $57,000 as an unlikely extreme for this move. Should I open a long position on Bitcoin now?Simon calls a long here a no-go for himself on risk-reward grounds, since the five-wave move up looks complete and price sits under strong resistance. He notes every trader differs, so those with an edge and a fitting tactic may act, but he prefers waiting for confirmation. MyCryptoParadise has run a professional crypto signals and trading-education service since 2016, led by founder Simon Mach and the ParadiseTeam. Simon records these sessions three times a week, and every episode lands on theBitcoin video analysis hub. Educational content, not financial advice. Crypto trading carries substantial risk; you can lose your capital. Past performance does not guarantee future results.