Cryptocurrency

Bitcoin

Resistance

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-faces-resistance-as-it-struggles-to-surpass-key-levels/" data-wpel-link="internal">Bitcoin Faces Resistance as It Struggles to Surpass Key Levels</a><br></p>
<p style="text-align: justify"><a href="https://coin-turk.com/ekim-ayinin-en-kotu-3-unlu-kripto-para-yorumcusu" data-wpel-link="internal">Cryptocurrency</a> markets, especially <a href="https://coin-turk.com/altcoinler-yukselecek-mi-bitcoin-btc-fiyat-tahminleri-neler" data-wpel-link="internal">Bitcoin</a>, have recently turned into a battleground. <strong><a href="https://coin-turk.com/balinalardan-bitcoine-btc-buyuk-destek-birikim-artiyor" data-wpel-link="internal">BTC</a></strong> is fighting a determined battle to overcome the critical resistance level of $68,800. However, the recent activity also highlights the risks below the $65,000 support level. What can be expected for <a href="https://en.coin-turk.com/crypto-market-reactivates-bitcoin-surges-some-altcoins-fall/" data-wpel-link="internal">Bitcoin</a>‘s price in the coming period?</p> 
<h2 style="text-align: justify" id="bitcoin-price-encounters-resistance">Bitcoin Price Encounters Resistance</h2> 
<p style="text-align: justify">Bitcoin’s price faces resistance in the $68,000 region for a new increase. However, trading below $68,000 and the 100-hour simple moving average is causing investor anxiety. The descending trend line formed by the resistance at $67,800 on the hourly chart of the <a href="https://en.coin-turk.com/us-data-sparks-positive-surge-in-bitcoin-and-ethereum-prices/" data-wpel-link="internal">BTC</a>/<strong>USD</strong> pair complicates the current situation.</p> 
<p style="text-align: justify">The volatility of recent days has led to an attempt by BTC to rise above the $65,500 level, but bears became active around $69,000. The price dropping below the $66,000 support zone is increasing concerns.</p> 
<p style="text-align: justify">Bitcoin, the flagship of cryptocurrencies, is currently trading below $66,000, and the retracement levels of the recovery wave are being tested. However, the immediate resistance at $65,000 could be a catalyst in the near term. Uncertainty continues for investors. However, a clear move above the $68,800 resistance zone could push the price above the $70,000 resistance level. More importantly, it could gain new momentum towards the $71,200 level.</p> 
<h2 style="text-align: justify" id="will-there-be-more-losses-for-btc">Will There Be More Losses for BTC?</h2> 
<p style="text-align: justify">The most crucial issue at the moment is the price’s proximity to the critical support point near $65,000. However, the strength of this support point seems to be tested, and if it fails to hold, more losses could be on the horizon for BTC.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-329978 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/btc-usd-coin-turk-com-1-1.png" alt="" width="1815" height="836"></p> 
<p style="text-align: justify">So, which levels are critical? The first major support is at $64,550. However, the point we should really focus on is the $64,000 level. If we see a close below this level, we should consider the possibility of a price decline towards $63,500. In the event of further losses, the price could be predicted to journey towards the $62,000 support zone.</p> 
<p style="text-align: justify">Looking at the technical indicators, we observe that the hourly MACD is gaining momentum in the bearish zone. Additionally, the hourly RSI (Relative Strength Index) for BTC/USD is trending below the 50 level. This indicates that the selling pressure continues.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-faces-resistance-as-it-struggles-to-surpass-key-levels/" data-wpel-link="internal">Bitcoin Faces Resistance as It Struggles to Surpass Key Levels</a></h5>

Bitcoin Faces Resistance as It Struggles to Surpass Key Levels

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