Bitcoin price managed to stay above the $60,000 support. BTC recovered and is now facing hurdles near the $63,500 resistance zone.
- Bitcoin seems to be trading in a range between $60,000 and $63,500.
- The price is trading above $61,800 and the 100 hourly Simple moving average.
- There was a break above a major bearish trend line with resistance at $61,400 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could rally if it clears $63,500 or might revisit the range support at $60,000.
Bitcoin Price Trims Gains
Bitcoin price extended its decline below the $60,800 support zone. However, the bulls were active above the $60,000 support zone. A low was formed at $60,220 and the price started a recovery wave.
There was a move above the $61,000 and $61,200 levels. Besides, there was a break above a major bearish trend line with resistance at $61,400 on the hourly chart of the BTC/USD pair. The pair rallied and revisited the main hurdle at $63,500.Bitcoin is still trading above $62,000 and the 100 hourly Simple moving average. Immediate resistance is near the $62,800 level. The first major resistance could be $63,000. The next key resistance could be $63,500. A clear move above the $63,200 resistance might send the price higher.