Bitcoin

<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-price-hurdles/" data-wpel-link="internal">Bitcoin Struggles to Overcome Price Hurdles</a><br></p>
<p style="text-align: justify"><strong><a href="https://coin-turk.com/6-yilin-dibine-az-kaldi-bu-durum-kripto-icin-ne-anlama-geliyor" data-wpel-link="internal">Bitcoin</a></strong> price is having difficulty surpassing the $65,500 level, causing concern among investors. <a href="https://coin-turk.com/yatirimcilar-dikkat-iki-kidemli-analistten-bitcoinde-benzer-uyari" data-wpel-link="internal">BTC</a> has recently entered a decline again after a brief recovery, falling below $63,000. Market analysts are warning that this downward trend could persist.</p> 
<h2 style="text-align: justify" id="bitcoin-price-faces-challenges">Bitcoin Price Faces Challenges</h2> 
<p style="text-align: justify">Currently, <a href="https://en.coin-turk.com/exploring-bitcoins-potential-surge-after-the-fourth-block-reward-halving/" data-wpel-link="internal">Bitcoin</a> is trading below the $64,500 level and also under the 100-hour Simple Moving Average. The hourly chart highlights the presence of a downward trend line formed at the $64,500 resistance. This suggests that the <a href="https://en.coin-turk.com/impact-of-the-uss-first-spot-bitcoin-etf-approval-on-asias-crypto-scene/" data-wpel-link="internal">BTC</a>/USD pair could experience further declines in the near future.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-344744 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/btc-coin-turk-com-1-9.png" alt="" width="1873" height="772"></p> 
<p style="text-align: justify">If Bitcoin’s daily close happens below the $63,000 support zone, further price drops could occur. However, there is a silver lining for investors. A recovery wave was observed from the $62,750 support area, and BTC briefly managed to rise above the $64,000 and $64,500 resistance levels. Yet, it failed to surpass the $65,500 resistance zone, leading to another price decline.</p> 
<p style="text-align: justify">Currently, Bitcoin’s immediate resistance levels are at $64,500. However, significant resistance awaits at $65,350 or $65,500. If the price can overcome these resistance levels, a move towards higher levels could be observed. Specifically, a clear move above the $66,200 resistance zone could accelerate the price rise and potentially lead to a journey towards the $67,000 level.</p> 
<h2 style="text-align: justify" id="btc-s-loss-scenario-could-bring-60-000-into-play">BTC’s Loss Scenario Could Bring $60,000 into Play</h2> 
<p style="text-align: justify">If Bitcoin cannot surpass the $64,500 resistance area, the cryptocurrency might follow a downward trajectory. Currently, the immediate support point is near $64,000. If a close below $63,750 occurs, the price is anticipated to trend down towards $62,750. In this case, further losses could soon push the price towards the $61,200 support area.</p> 
<p style="text-align: justify">Indicators suggest the current situation is not very promising. The hourly MACD is gaining momentum in the bearish zone, and the hourly RSI is below 50 for BTC/USD.</p> 
<p style="text-align: justify">So, what should investors expect? The main support levels are seen at $64,000 and then $63,750. However, resistance levels should not be overlooked. $64,500, $65,350, and $66,200 are important resistance points to watch for a potential rise.</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-price-hurdles/" data-wpel-link="internal">Bitcoin Struggles to Overcome Price Hurdles</a></h5>

Bitcoin Struggles to Overcome Price Hurdles

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