Bitcoin

Resistance

<a href="https://bitcoinworld.co.in/bitcoin-btc-recovers-but-encounters-resistance-at-64000/" title="Bitcoin (BTC) Recovers, But Encounters Resistance At $64,000" rel="nofollow"></a>
<ul> 
 <li style="font-weight: 400">The price of Bitcoin (BTC) pulled back above the psychological $60,000 mark but continues to face resistance at $64,000.</li> 
 <li style="font-weight: 400">Bitcoin fell to $58,555 on June 24.</li> 
</ul> 
The <a href="https://coinstats.app/coins/bitcoin/">price</a> pulled back above the psychological $60,000 mark and continued its fluctuating trend. Today, the BTC price has recovered and broken out of the current price range of $60,000 to $63,000. 
<figure id="attachment_75877" aria-describedby="caption-attachment-75877" style="width: 100%" class="wp-caption aligncenter">
 <img fetchpriority="high" decoding="async" class=" wp-image-75877" src="http://bitcoinworld.co.in/wp-content/uploads/BTC-Price-Chart-61-486x300.png" alt="" width="591" height="365" srcset="https://bitcoinworld.co.in/wp-content/uploads/BTC-Price-Chart-61-486x300.png 486w, https://bitcoinworld.co.in/wp-content/uploads/BTC-Price-Chart-61.png 764w" sizes="(max-width: 591px) 100vw, 591px">
 <figcaption id="caption-attachment-75877" class="wp-caption-text">
 BTC Price Chart | Source: Coinstats
 </figcaption>
</figure> 
&nbsp; 
On the upside, <a href="https://bitcoinworld.co.in/bitcoin-wallet-activities-drops-to-lowest-level-since-2010/">Bitcoin</a> will encounter resistance near the moving average line. A break above the moving average lines would propel Bitcoin to a high of $70,000.&nbsp; 
On the other hand, if Bitcoin fails to break above the moving average lines, it will be forced to continue its move above the $60,000 support but below the moving average lines. At the time of writing, Bitcoin is currently worth $63,622. 
<h3 id="span-style-font-weight-400-bitcoin-indicator-reading-span">Bitcoin Indicator Reading</h3> 
After the recent price rise, the BTC price is above the moving average lines on the 4-hour chart.&nbsp; 
Bitcoin has resumed its uptrend. On the upside, the uptrend is rejected at the 21-day SMA. Despite the price recovery, the moving average lines remain flat. 
<h3 id="span-style-font-weight-400-technical-indicators-span">Technical Indicators:</h3> 
<ul> 
 <li style="font-weight: 400">Key resistance levels – $70,000 and $80,000</li> 
 <li style="font-weight: 400">Key support levels – $50,000 and $40,000</li> 
</ul> 
<h3 id="span-style-font-weight-400-what-is-the-next-direction-for-btc-usd-span">What Is The Next Direction For BTC/USD?</h3> 
Bitcoin has resumed its uptrend, although it remains in the downtrend zone. The largest cryptocurrency is facing a rejection at the 21-day SMA or resistance at $64,000.&nbsp; 
The cryptocurrency is expected to continue its move above $60,000 but below the moving averages. 
Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Bitcoin (BTC) Recovers, But Encounters Resistance At $64,000

Table of Contents

ItsBitcoinWorld

Další články publikované 3. 7. 2024

What Is Polkadot (DOT)?

Blockchain Firm Mantra Partners with UAE Developer MAG to Launch $500M Tokenized Real Estate Proj...

The spot Solana ETF: Will US presidential election make or break it?

Top Free Crypto Airdrops You Need to Know

Chibi Clash Launches Kingdoms Alliance Competition (3 Jul)

Binance.US Braces for Extended Legal Battle with SEC: Report

Join our free newsletter for daily crypto updates!