{"id":590832,"date":"2024-03-01T03:05:48","date_gmt":"2024-03-01T03:05:48","guid":{"rendered":"https:\/\/ktsl888.com\/?p=590832"},"modified":"2024-06-11T14:40:52","modified_gmt":"2024-06-11T14:40:52","slug":"bitcoin-price-turns-attractive-60k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-turns-attractive-60k\/","title":{"rendered":"Bitcoin Price Turns Attractive On Dips, 100 SMA Is The Key"},"content":{"rendered":"<p><em>Bitcoin price is correcting gains from the $64,000 resistance. BTC might find strong support near the $59,250 level or the 100 hourly SMA.<\/em><\/p>\n<ul>\n<li>Bitcoin price is correcting gains below the $62,250 resistance zone.<\/li>\n<li>The price is trading above $60,000 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break below a connecting bullish trend line with support at $62,850 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could correct lower toward $60,000 or even to the 100 hourly Simple moving average.<\/li>\n<\/ul>\n<h2>Bitcoin Price Starts Correction<\/h2>\n<p>Bitcoin price extended its rally above the <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-uptrend-70k\/\" target=\"_blank\" rel=\"noopener \">$62,000 resistance zone<\/a>. BTC even cleared the $63,200 level and tested the $64,000 zone. A new multi-week high was formed near $64,000 before the price started a downside correction.<\/p>\n<p>The price traded below the $62,000 support. There was a spike below the 50% Fib retracement level of the upward move from the $57,846 swing low to the $53,549 swing high.<\/p>\n<p>There was a break below a connecting bullish trend line with support at $62,850 on the hourly chart of the BTC\/USD pair. Bitcoin is still trading above $60,000 and the <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-consolidates-58k\/\" target=\"_blank\" rel=\"noopener \">100 hourly Simple moving average<\/a>.<\/p>\n<p><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Bitcoin.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-590833\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Bitcoin.png?resize=1024%2C461\" alt=\"Bitcoin Price\" width=\"1024\" height=\"461\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Bitcoin.png?w=1835 1835w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Bitcoin.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Bitcoin.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Bitcoin.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Bitcoin.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Bitcoin.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Bitcoin.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/p>\n<p>Immediate resistance is near the $62,200 level. The next key resistance could be $62,850, above which the price could rise toward the $64,000 resistance zone. If the bulls remain in action, the price could even surpass $64,000 and test $65,000. Any more gains might send the price toward the $68,000 zone.<\/p>\n<h2>Are Dips Limited In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $62,200 resistance zone, it could continue to move down. Immediate support on the downside is near the $60,000 level and the 61.8% Fib retracement level of the upward move from the $57,846 swing low to the $53,549 swing high.<\/p>\n<p>The first major support is $58,000 or the 100 hourly SMA. If there is a close below $58,000, the price could start a decent pullback toward the $56,500 zone. Any more losses might send the price toward the $55,000 support zone.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $60,000, followed by $58,000.<\/p>\n<p>Major Resistance Levels \u2013 $62,200, $62,850, and $64,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is correcting gains from the $64,000 resistance. BTC might find strong support near the $59,250 level or the 100 hourly SMA. Bitcoin price is correcting gains below the $62,250 resistance zone. The price is trading above $60,000 and the 100 hourly Simple moving average. There was a break below a connecting bullish trend line with support at $62,850 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could correct lower toward $60,000 or even to the 100 hourly Simple moving average. Bitcoin Price Starts Correction Bitcoin price extended its rally above the $62,000 resistance zone. BTC even cleared the $63,200 level and tested the $64,000 zone. A new multi-week high was formed near $64,000 before the price started a downside correction. The price traded below the $62,000 support. There was a spike below the 50% Fib retracement level of the upward move from the $57,846 swing low to the $53,549 swing high. There was a break below a connecting bullish trend line with support at $62,850 on the hourly chart of the BTC\/USD pair. Bitcoin is still trading above $60,000 and the 100 hourly Simple moving average. Source: BTCUSD on TradingView.com Immediate resistance is near the $62,200 level. The next key resistance could be $62,850, above which the price could rise toward the $64,000 resistance zone. If the bulls remain in action, the price could even surpass $64,000 and test $65,000. Any more gains might send the price toward the $68,000 zone. Are Dips Limited In BTC? If Bitcoin fails to rise above the $62,200 resistance zone, it could continue to move down. Immediate support on the downside is near the $60,000 level and the 61.8% Fib retracement level of the upward move from the $57,846 swing low to the $53,549 swing high. The first major support is $58,000 or the 100 hourly SMA. If there is a close below $58,000, the price could start a decent pullback toward the $56,500 zone. Any more losses might send the price toward the $55,000 support zone. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level. Major Support Levels \u2013 $60,000, followed by $58,000. Major Resistance Levels \u2013 $62,200, $62,850, and $64,000.<\/p>\n","protected":false},"author":67,"featured_media":459739,"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":[428,679,1144,78790,76835],"class_list":["post-590832","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Turns Attractive On Dips, 100 SMA Is The Key<\/title>\n<meta name=\"description\" content=\"Bitcoin price is correcting gains from the $64,000 resistance. 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