Bitcoin

Resistance

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-struggles-to-overcome-key-resistance-levels/" data-wpel-link="internal">Bitcoin Struggles to Overcome Key Resistance Levels</a><br></p>
<p style="text-align: justify"><strong><a href="https://coin-turk.com/ab-rusyaya-yuksek-degerli-kripto-hizmetleri-sunmayi-yasakladi" data-wpel-link="internal">The cryptocurrency</a></strong> market faces another exciting week. <a href="https://coin-turk.com/liquid-uzerindeki-bitcoin-miktari-2-000e-yaklasti" data-wpel-link="internal">Bitcoin</a> continues to fluctuate below the $63,000 resistance level, raising concerns among investors. Can <a href="https://coin-turk.com/15-yasindayken-1-500den-fazla-bitcoin-caldi-sonu-iyi-bitmedi" data-wpel-link="internal">BTC</a> avoid a major drop by maintaining above the $60,000 support zone?</p> 
<h2 style="text-align: justify" id="bitcoin-s-recovery-efforts-underway">Bitcoin’s Recovery Efforts Underway</h2> 
<p style="text-align: justify">Recent developments show <a href="https://en.coin-turk.com/bitcoin-price-trends-and-key-levels-to-watch-this-week/" data-wpel-link="internal">Bitcoin</a> still struggling below the $63,000 resistance area. However, trading below $62,800 and the 100-hour simple moving average, it faces a tough battle. Particularly, a break below the critical support level of $62,400 in the <a href="https://en.coin-turk.com/new-crypto-bull-run-emerges-as-bitcoin-price-surges/" data-wpel-link="internal">BTC</a>/USD hourly chart could indicate an increasing downtrend.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-342005 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/btcusdt-coin-turk-com-.png" alt="" width="1814" height="798"></p> 
<p style="text-align: justify"><strong>Bitcoin’s price</strong>, although recently showing an increase above the $61,500 resistance area, failed to surpass the key level of $64,000. A significant drop occurred after reaching a high of $64,142. This break below the rising trend line in the BTC/USD hourly chart led to a drop below $60,800.</p> 
<h2 style="text-align: justify" id="btc-price-rebounds-from-59-600">BTC Price Rebounds from $59,600</h2> 
<p style="text-align: justify">However, the price seems to have found support around $59,600 and is currently attempting a new recovery wave. In the coming days, it remains to be seen whether Bitcoin can break the $63,000 resistance area and start an uptrend.</p> 
<p style="text-align: justify">However, surpassing the $64,200 resistance level could signal the price gaining upward momentum again.</p> 
<h2 style="text-align: justify" id="if-bitcoin-fails-to-overcome-critical-resistances">If Bitcoin Fails to Overcome Critical Resistances</h2> 
<p style="text-align: justify"><strong>BTC</strong>‘s inability to rise above the significant $62,000 resistance area is causing investor anxiety and raising the possibility of another drop. Currently, an immediate support point is indicated near $60,800. However, if this support level breaks, further declines are expected.</p> 
<p style="text-align: justify">The first major support point is seen at $60,000. If BTC closes below this level, the price is anticipated to show a downward trend towards $59,550. Further losses could potentially lead the price towards the $58,500 support area in the near term.</p> 
<h2 style="text-align: justify" id="what-do-technical-indicators-say">What Do Technical Indicators Say?</h2> 
<p style="text-align: justify">Looking at technical indicators, the hourly MACD is gaining speed in the bearish zone. Additionally, the hourly RSI (Relative Strength Index) for BTC/USD is also trending below the 50 level, indicating continued selling pressure.</p> 
<p style="text-align: justify">Key support levels are established at $60,800 and $60,000. However, resistance points should not be overlooked. BTC is expected to encounter resistance at the $62,000, $63,000, and $64,200 levels.</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-struggles-to-overcome-key-resistance-levels/" data-wpel-link="internal">Bitcoin Struggles to Overcome Key Resistance Levels</a></h5>

Bitcoin Struggles to Overcome Key Resistance Levels

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