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{"id":474887,"date":"2021-10-29T03:08:16","date_gmt":"2021-10-29T03:08:16","guid":{"rendered":"https:\/\/ktsl888.com\/?p=474887"},"modified":"2024-06-11T13:59:53","modified_gmt":"2024-06-11T13:59:53","slug":"bitcoin-attempts-increase-62k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-attempts-increase-62k\/","title":{"rendered":"Bitcoin Attempts Fresh Increase, Why BTC Could Struggle Near $62K"},"content":{"rendered":"

Bitcoin price started a fresh increase above $60,000 against the US Dollar. BTC is rising and it could attempt an upside break above the $62,000 resistance.<\/em><\/p>\n

\n
Bitcoin managed to pump above the $60,000 and $61,000 levels.<\/li>\n
The price is now trading above $61,000 and the 100 hourly simple moving average.<\/li>\n
There is a major bearish trend line forming with resistance near $61,650 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair must settle above $62,000 to start a major increase in the near term.<\/li>\n<\/ul>\n
Bitcoin Price Starts Fresh Increase<\/h2>\n
Bitcoin price found support near $58,140 and started a fresh increase<\/a>. BTC was able to break the $60,000 and $60,500 resistance levels to move into a positive zone.<\/p>\n
The price even settled above the $60,500 level and the 100 hourly simple moving average<\/a>. There was also a break above the 50% Fib retracement level of the key decline from the $63,700 swing high to $58,140 low. It is now facing resistance near the $61,650 and $61,800 levels.<\/p>\n
There is also a major bearish trend line forming with resistance near $61,650 on the hourly chart of the BTC\/USD pair. Bitcoin is also facing barrier near the $62,000 level.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
It is near the 61.8% Fib retracement level of the key decline from the $63,700 swing high to $58,140 low. A clear break above the trend line resistance and then $62,000 may possibly call open the doors for a move towards the $63,000 level. The next major resistance sits near the $64,000 level.<\/p>\n
Fresh Decline In BTC?<\/h2>\n
If bitcoin fails to clear the $62,000 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $61,000 level. The first major support is now forming near the $60,500 level.<\/p>\n
A break below the $60,500 support may possibly put a lot of pressure on the bulls in the near term. The next key support is near the $60,000 level, below which there is a risk of a larger decline. In the stated case, the price might slide towards the $58,500 level.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is slowly losing pace in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n
Major Support Levels \u2013 $60,500, followed by $60,000.<\/p>\n
Major Resistance Levels \u2013 $61,650, $62,000 and $63,200.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price started a fresh increase above $60,000 against the US Dollar. BTC is rising and it could attempt an upside break above the $62,000 resistance. Bitcoin managed to pump above the $60,000 and $61,000 levels. The price is now trading above $61,000 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $61,650 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair must settle above $62,000 to start a major increase in the near term. Bitcoin Price Starts Fresh Increase Bitcoin price found support near $58,140 and started a fresh increase. BTC was able to break the $60,000 and $60,500 resistance levels to move into a positive zone. The price even settled above the $60,500 level and the 100 hourly simple moving average. There was also a break above the 50% Fib retracement level of the key decline from the $63,700 swing high to $58,140 low. It is now facing resistance near the $61,650 and $61,800 levels. There is also a major bearish trend line forming with resistance near $61,650 on the hourly chart of the BTC\/USD pair. Bitcoin is also facing barrier near the $62,000 level. Source: BTCUSD on TradingView.com It is near the 61.8% Fib retracement level of the key decline from the $63,700 swing high to $58,140 low. A clear break above the trend line resistance and then $62,000 may possibly call open the doors for a move towards the $63,000 level. The next major resistance sits near the $64,000 level. Fresh Decline In BTC? If bitcoin fails to clear the $62,000 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $61,000 level. The first major support is now forming near the $60,500 level. A break below the $60,500 support may possibly put a lot of pressure on the bulls in the near term. The next key support is near the $60,000 level, below which there is a risk of a larger decline. In the stated case, the price might slide towards the $58,500 level. Technical indicators: Hourly MACD \u2013 The MACD is slowly losing pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $60,500, followed by $60,000. Major Resistance Levels \u2013 $61,650, $62,000 and $63,200.<\/p>\n","protected":false},"author":67,"featured_media":460635,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1144,78790,76835],"class_list":["post-474887","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nBitcoin Attempts Fresh Increase, Why BTC Could Struggle Near $62K<\/title>\n<meta name=\"description\" content=\"Bitcoin price started a fresh increase above $60,000 against the US Dollar. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/ktsl888.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Attempts Fresh Increase, Why BTC Could Struggle Near $62K","url":"http:\/\/ktsl888.com\/news\/bitcoin-attempts-increase-62k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin-attempts-increase-62k\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/04\/shutterstock_587323760.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/04\/shutterstock_587323760.jpg?fit=1000%2C745"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btcusd","btcusdt","xbtusd"],"dateCreated":"2021-10-29T03:08:16Z","datePublished":"2021-10-29T03:08:16Z","dateModified":"2024-06-11T13:59:53Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Attempts Fresh Increase, Why BTC Could Struggle Near $62K\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-attempts-increase-62k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-attempts-increase-62k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_587323760.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_587323760.jpg?fit=1000%2C745\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2021-10-29T03:08:16Z\",\"datePublished\":\"2021-10-29T03:08:16Z\",\"dateModified\":\"2024-06-11T13:59:53Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/04\/shutterstock_587323760.jpg?fit=1000%2C745","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/474887"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=474887"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/474887\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/460635"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=474887"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=474887"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=474887"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}