Bitcoin

Resistance

Bitcoin price started another decline from the $67,000 zone. BTC is showing bearish signs and might soon revisit the $61,000 support zone. 
<ul> 
 <li>Bitcoin failed to clear the $67,000 resistance zone.</li> 
 <li>The price is trading below $65,000 and the 100 hourly Simple moving average.</li> 
 <li>There was a break below a rising channel with support at $64,900 on the hourly chart of the BTC/USD pair (data feed from Kraken).</li> 
 <li>The pair could extend its decline unless it clears the $65,000 resistance zone.</li> 
</ul> 
<h2 id="bitcoin-price-recovery-stalls">Bitcoin Price Recovery Stalls</h2> 
Bitcoin price attempted a <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-downside-thrust-60500/" target="_blank" rel="noopener ">recovery wave</a> above the $65,000 resistance zone. BTC even climbed above $66,200, but the bears were active near the $67,000 zone. 
A high was formed at $66,898 and the price started another decline amid rising tensions between Israel and Iran. There was a move below the $65,000 and $64,000 levels. The price traded below the 50% Fib retracement level of the upward move from the $60,495 swing low to the $66,898 high. 
There was a break below a rising channel with support at $64,900 on the hourly chart of the BTC/USD pair. Bitcoin is now trading below $65,000 and the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-upside-break-75k/" target="_blank" rel="noopener ">100 hourly Simple moving average</a>. The bulls are now protecting the 61.8% Fib retracement level of the upward move from the $60,495 swing low to the $66,898 high at $63,000. 
Immediate resistance is near the $63,750 level. The first major resistance could be $64,700. The next resistance now sits at $65,000. If there is a clear move above the $65,000 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $66,800 and the 100 hourly Simple moving average. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_2b74da.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-603402" src="https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_2b74da.png?resize=1024%2C461" alt="Bitcoin Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_2b74da.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_2b74da.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_2b74da.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_2b74da.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_2b74da.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_2b74da.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_2b74da.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 $67,200 zone. Any more gains might send Bitcoin toward the $70,000 resistance zone in the near term. 
<h2 id="more-losses-in-btc">More Losses In BTC?</h2> 
If Bitcoin fails to rise above the $65,000 resistance zone, it could start another decline. Immediate support on the downside is near the $63,000 level. 
The first major support is $62,000. If there is a close below $62,000, the price could start to drop toward the $61,000 level. Any more losses might send the price toward the $60,500 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 – $63,000, followed by $62,000. 
Major Resistance Levels – $64,700, $65,000, and $67,000.

Bitcoin Price Restarts Decline, Can BTC Bulls Protect $60K?

Indice dei contenuti

NewsBTC

Altri articoli pubblicati su 16 apr 2024

Doubts Loom Over XRP And ADA’s Potential To Hit $1 In 2024! What’s Next?

Solana exchange Drift confirms 100m token airdrop

Drip Network Crypto Analysis: What’s Next in the DRIP Price?

Shiba Inu Boosts Market Strategy with Increased Token Burns

Bitcoin Halving will pump games, Shrapnel’s ‘simple’ secret revealed: Web3 Gamer

New Trading Pairs and Bot Services Announced by Binance

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!