Bitcoin

Resistance

Bitcoin price is still struggling below the $65,000 resistance zone. BTC must stay above the $60,000 support zone to avoid a major decline. 
<ul> 
 <li>Bitcoin is still struggling to gain pace for a move above the $65,000 resistance zone.</li> 
 <li>The price is trading below $63,000 and the 100 hourly Simple moving average.</li> 
 <li>There is a key bearish trend line forming with resistance at $62,650 on the hourly chart of the BTC/USD pair (data feed from Kraken).</li> 
 <li>The pair could gain bullish momentum if it clears the $63,000 resistance zone.</li> 
</ul> 
<h2 id="bitcoin-price-remains-at-risk">Bitcoin Price Remains At Risk</h2> 
Bitcoin price failed to clear the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-consolidates-65k-2/" target="_blank" rel="noopener ">$64,500 resistance zone</a>. BTC formed a short-term top at $64,450 and started another decline. There was a move below the $63,000 and $62,000 levels. 
The price even spiked below the $60,000 level. A low was formed near $59,700 and the price is now attempting a fresh recovery wave. The price climbed above the 23.6% Fib retracement level of the recent decline from the $64,444 swing high to the $59,700 low. 
Bitcoin price is trading below $63,000 and the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-restarts-decline-60k/" target="_blank" rel="noopener ">100 hourly Simple moving average</a>. Immediate resistance is near the $62,000 level. It is close to the 50% Fib retracement level of the recent decline from the $64,444 swing high to the $59,700 low. 
The first major resistance could be $62,650 and the trend line. The next resistance now sits at $63,000. If there is a clear move above the $63,000 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $64,500. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_a9f250.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-603771" src="https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_a9f250.png?resize=1024%2C461" alt="Bitcoin Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_a9f250.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_a9f250.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_a9f250.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_a9f250.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_a9f250.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_a9f250.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_a9f250.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/BTCUSD/" target="_blank" rel="noopener nofollow">BTCUSD on TradingView.com</a> 
The next major resistance is near the $65,000 zone. Any more gains might send Bitcoin toward the $66,500 resistance zone in the near term. 
<h2 id="more-losses-in-btc">More Losses In BTC?</h2> 
If Bitcoin fails to rise above the $63,000 resistance zone, it could start another decline. Immediate support on the downside is near the $60,800 level. 
The first major support is $60,000. If there is a close below $60,000, the price could start to drop toward the $59,200 level. Any more losses might send the price toward the $58,500 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 below the 50 level. 
Major Support Levels – $60,800, followed by $60,000. 
Major Resistance Levels – $62,650, $63,000, and $64,500.

Bitcoin Price At Make-Or-Break Moment, Key Levels To Watch

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