Bitcoin Price Falls To $60K: Is A Rebound Possible?

2024-10-2 05:48

Bitcoin price started a fresh decline below the $63,500 level. BTC is now consolidating above $60,000 and might face many hurdles on the upside.

Bitcoin is down over 5% from the $65,000 resistance zone. The price is trading below $63,500 and the 100 hourly Simple moving average. There is a connecting bearish trend line with resistance at $62,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it stays above the $60,500 support zone. Bitcoin Price Takes Hit

Bitcoin price started a fresh decline from the $65,000 resistance. BTC broke the $64,000 and $63,500 support levels to move into a short-term bearish zone.

The price even dipped below $61,500. A low was formed at $60,281 and the price is now consolidating losses. The price is now trading near the 23.6% Fib retracement level of the downward move from the $66,055 swing high to the $60,281 low.

Bitcoin is now trading below $62,500 and the 100 hourly Simple moving average. If there is a fresh increase, the price could face resistance near the $61,650 level. The first key resistance is near the $62,500 level. There is also a connecting bearish trend line with resistance at $62,800 on the hourly chart of the BTC/USD pair.

A clear move above the $62,800 resistance might send the price higher. The next key resistance could be $63,200. It is close to the 50% Fib retracement level of the downward move from the $66,055 swing high to the $60,281 low.

A close above the $63,200 resistance might spark more upsides. In the stated case, the price could rise and test the $64,000 resistance level. Any more gains might send the price toward the $65,000 resistance level.

More Losses In BTC?

If Bitcoin fails to rise above the $62,800 resistance zone, it could continue to move down. Immediate support on the downside is near the $61,000 level.

The first major support is near the $60,500 level. The next support is now near the $60,000 zone. Any more losses might send the price toward the $58,500 support 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 below the 50 level.

Major Support Levels – $60,500, followed by $60,000.

Major Resistance Levels – $61,650, and $62,800.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 62007.12 (-0.17%)
Объем 24H $15.785b
Изменеия 24h: 0.13 %, 7d: -5.56 %
Cегодня L: $61783.94 - H: $62449.67
Капитализация $1225.476b Rank 1
Цена в час новости $ 61721.98 (0.46%)

bitcoin price many face hurdles might upside

Источник: newsbtc.com

bitcoin price → Результатов: 126


Фото:

Bitcoin Whales Take Profit After Latest Price Jump — Here’s How Much They Sold

The latest on-chain data shows that a particular class of Bitcoin investors has been selling for profit in the wake of the recent price rally. The question here is — how much did they sell and how much impact could it have on the Bitcoin price trajectory? Bitcoin Whales Dump 30,000 BTC In Four Days — Impact On Price? In a new post on the X platform, prominent crypto pundit Ali Martinez revealed that Bitcoin whales have been increasingly active in the market in the days following BTC’s return to above $63,000.

2024-9-23 13:00


Bitcoin’s price jumps to a three-week high

Bitcoin’s price has surged 5.6%, hitting a three-week high of $61.1K on Tuesday morning Altcoins like Celestia, Immutable X, and Near have seen double-digit percentage gains Crypto stocks rose modestly ahead of the Fed’s expected rate cut announcement Bitcoin’s price has surged to its highest level in three weeks, triggering gains across the cryptocurrency sector […] The post Bitcoin’s price jumps to a three-week high appeared first on CoinJournal.

2024-9-19 19:40


Understanding Bitcoin’s Drop Below $60K: What’s Behind the Decline

Bitcoin did manage to break through the $60,000 barrier earlier in August, but it has struggled since to maintain this psychological target. While this much is clear, investors are all asking the same question – what’s keeping BTC’s price down? Analysts say that there are multiple factors impacting the price and that the latest major […] The post Understanding Bitcoin’s Drop Below $60K: What’s Behind the Decline appeared first on CaptainAltcoin.

2024-9-5 17:30


Bitcoin Price to Retest $60k Level Again – Will BTC Finally Break Out?

Bitcoin’s price surged by 4.7% yesterday, bringing it close to breaking into a new hourly higher high. In a recent analysis, Cheeky Crypto addresses the short-, medium-, and long-term views for Bitcoin, questioning whether the market is on the verge of a significant breakout above the $60,000 or if the recent movement was merely an […] The post Bitcoin Price to Retest $60k Level Again – Will BTC Finally Break Out? appeared first on CaptainAltcoin.

2024-8-17 12:25


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 Poised for Recovery: Will the Uptrend Resume?

Bitcoin price is consolidating above the $60,000 support. BTC seems to be eyeing a fresh increase above the $61,200 and $61,500 levels. Bitcoin is consolidating above the $60,000 support zone. The price is trading below $61,750 and the 100 hourly Simple moving average.

Bitcoin Price Back on Track: Can It Maintain Traction?

Bitcoin price started a fresh increase above the $64,750 resistance. BTC is now consolidating near $65,000 and might remain supported. Bitcoin is consolidating gains near the $65,000 zone. The price is trading above $64,200 and the 100 hourly Simple moving average.