Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-trends-and-potential-drops-below-60000/" data-wpel-link="internal">Bitcoin Price Trends and Potential Drops Below $60,000</a><br></p>
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/bitcoin-demonstrates-resilience-amid-market-uncertainty-a-look-at-upcoming-prospects/" data-wpel-link="internal">Bitcoin</a></strong> is deepening its downward trend, currently trading below the $62,000 level. BTC is showing signs of decline and could continue to drop if it falls below $60,000. Recently, Bitcoin has struggled to stay above the $63,500 level, extending its losses. There was a movement below the $63,000 and $62,500 levels, and even bears managed to pull the <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">price</a> down to $61,200.</p> 
<h2 style="text-align: justify" id="can-bitcoin-price-recover-its-losses">Can Bitcoin Price Recover Its Losses?</h2> 
<p style="text-align: justify">The lowest level occurred around $60,888, and the price is now trying to consolidate these losses. On the hourly chart of the BTC/USD pair, a downward trend line is forming at the $62,000 resistance.</p> 
<p style="text-align: justify">While the immediate resistance is near $61,800, the first major resistance is stated at $62,000. The next key resistance is at $63,200. Currently, the main barrier is at $63,800. If the price surpasses the $63,800 resistance level, it is thought that the price could rise further.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="wp-image-349363 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/btc-1-1.png" alt="" width="1815" height="798"></p> 
<p style="text-align: justify">The next resistance is currently at $64,450. If a close above the $64,450 resistance area occurs, it is predicted that the price could continue its upward trend. In this scenario, the price could rise towards $65,500.</p> 
<h2 style="text-align: justify" id="could-bitcoin-drop-below-60-000">Could Bitcoin Drop Below $60,000?</h2> 
<p style="text-align: justify">Bitcoin has been notably struggling to rise above the $62,000 resistance level recently. If it cannot break this resistance area, the cryptocurrency could continue its downward trajectory. A drop near the immediate support level of $60,850 is being observed.</p> 
<p style="text-align: justify">However, the critical point to watch is the $60,000 level. If a close below this level occurs, Bitcoin’s price could retreat towards $58,000. In this case, losses could increase, potentially leading to a move towards the support region of $56,500 in the near term. Looking at the technical indicators, the hourly MACD is gaining momentum in the bearish zone. Similarly, the hourly RSI (Relative Strength Index) for BTC/USD is also trending below the 50 level, which could be interpreted as a sign of weakness.</p> 
<p style="text-align: justify">So, what levels are important in the <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">market</a>? Firstly, the $60,850 support level should be closely monitored. Then, there is the main support level at $60,000, which, if broken, could foreseeably lead to a further downward movement. As for resistance points, $62,000, $63,200, and $64,450 are levels that could potentially hinder any price increases for Bitcoin.</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-price-trends-and-potential-drops-below-60000/" data-wpel-link="internal">Bitcoin Price Trends and Potential Drops Below $60,000</a></h5>

Bitcoin Price Trends and Potential Drops Below $60,000

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