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

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Інші статті, опубліковані 3 лип. 2024 р.

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