Bitcoin Price Resurgence: Ready for Another Upswing?

2024-6-10 07:17

Bitcoin price stayed above the $68,500 support zone. BTC is now consolidating and might aim for a fresh increase above the $70,150 resistance.

Bitcoin found support near $68,500 and started a decent recovery wave. The price is trading below $70,000 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support at $69,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could decline again if there is no move above the $70,150 resistance. Bitcoin Price Faces Resistance

Bitcoin price extended its decline below the $70,000 support zone. BTC even declined below the $69,500 level before the bulls appeared near $68,500. A low was formed at $68,409 and the price is now attempting a recovery wave.

There was a move above the $69,250 resistance zone. The price climbed above the 23.6% Fib retracement level of the downward move from the $71,900 swing high to the $68,409 low.

Bitcoin is now trading below $70,000 and the 100 hourly Simple moving average. However, there is a key bullish trend line forming with support at $69,500 on the hourly chart of the BTC/USD pair. On the upside, the price is facing resistance near the $70,000 level.

The first major resistance could be $70,150 and the 50% Fib retracement level of the downward move from the $71,900 swing high to the $68,409 low. The next key resistance could be $70,550. A clear move above the $70,550 resistance might send the price higher. In the stated case, the price could rise and test the $71,200 resistance. Any more gains might send BTC toward the $72,000 resistance.

Another Decline In BTC?

If Bitcoin fails to climb above the $70,150 resistance zone, it could start another decline. Immediate support on the downside is near the $69,500 level and the trend line.

The first major support is $69,150. The next support is now forming near $68,500. Any more losses might send the price toward the $67,500 support zone in the near term.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $69,500, followed by $68,500.

Major Resistance Levels – $70,150, and $70,500.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 61671.89 (+0.18%)
Объем 24H $27.34b
Изменеия 24h: 1.20 %, 7d: -5.81 %
Cегодня L: $61547.01 - H: $62223.95
Капитализация $1215.976b Rank 1
Цена в час новости $ 69563.28 (-11.34%)

bitcoin 500 support above price 150 wave

Источник: newsbtc.com

bitcoin 500 → Результатов: 126


Фото:

Crypto Community Fears Centralization As MicroStrategy’s Bitcoin Holdings Hit 132,500 BTC

A trove of mixed feelings trailed the crypto community as one of its foremost Bitcoin evangelists, Michael Saylor, announced an additional purchase of 2,500 BTCs. In a tweet yesterday afternoon, Saylor disclosed that his company had gone Bitcoin shopping over the last seven weeks at a price of approximately $16,500 per BTC, bringing the company’s […]

2022-12-30 22:31


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Price Rejects $70K: Post-Fed Recovery Fails to Materialize

Bitcoin price started a strong increase above $68,500. BTC even tested $70,000, but post-fed there was a major bearish reaction. Bitcoin started another decline from the $70,000 resistance zone. The price is trading below $68,550 and the 100 hourly Simple moving average.