{"id":599128,"date":"2024-03-22T03:03:14","date_gmt":"2024-03-22T03:03:14","guid":{"rendered":"https:\/\/ktsl888.com\/?p=599128"},"modified":"2024-06-11T14:41:25","modified_gmt":"2024-06-11T14:41:25","slug":"bitcoin-price-rejects-68k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-rejects-68k\/","title":{"rendered":"Bitcoin Price Rejects $68K, Indicators Signal Fresh Downside To $62K"},"content":{"rendered":"<p><em>Bitcoin price failed to recover above the $68,000 resistance zone. BTC is sliding and might decline again toward the $62,000 support zone.<\/em><\/p>\n<ul>\n<li>Bitcoin price started a decent increase but struggled near the $68,000 zone.<\/li>\n<li>The price is trading below $66,000 and the 100 hourly Simple moving average.<\/li>\n<li>There is a short-term declining channel or a bullish flag forming with resistance at $66,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair must clear the $66,200 resistance zone to start a fresh increase.<\/li>\n<\/ul>\n<h2>Bitcoin Price Faces Hurdles<\/h2>\n<p>Bitcoin price attempted a decent <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-jumps-68k\/\" target=\"_blank\" rel=\"noopener \">recovery wave<\/a> above the $65,000 resistance zone. BTC climbed above the $66,000 and $67,000 levels. However, the bears were active near the $68,000 level.<\/p>\n<p>A high was formed at $68,137 and the price is now moving lower. There was a break below the $66,000 support level. The price declined below the 23.6% Fib retracement level of the recovery wave from the $60,778 swing low to the $68,137 high.<\/p>\n<p>Bitcoin is now trading below $66,000 and the <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-turns-red-62k\/\" target=\"_blank\" rel=\"noopener \">100 hourly Simple moving average<\/a>. The bulls are now trying to protect the 50% Fib retracement level of the recovery wave from the $60,778 swing low to the $68,137 high at $64,500.<\/p>\n<p>Immediate resistance is near the $66,000 level. There is also a short-term declining channel or a bullish flag forming with resistance at $66,200 on the hourly chart of the BTC\/USD pair. The first major resistance could be $67,000.<\/p>\n<p><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Bitcoin_ccceee.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-599129\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Bitcoin_ccceee.png?resize=1024%2C461\" alt=\"Bitcoin Price\" width=\"1024\" height=\"461\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Bitcoin_ccceee.png?w=1835 1835w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Bitcoin_ccceee.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Bitcoin_ccceee.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Bitcoin_ccceee.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Bitcoin_ccceee.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Bitcoin_ccceee.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Bitcoin_ccceee.png?w=1140 1140w\" sizes=\"auto, (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>If there is a clear move above the $67,000 resistance zone, the price could continue to gain strength. In the stated case, the price could even clear the $68,000 resistance zone in the near term. The next key resistance sits at $70,000.<\/p>\n<h2>More Losses In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $66,000 resistance zone, it could continue to move down. Immediate support on the downside is near the $64,500 level.<\/p>\n<p>The first major support is $63,500. The next support sits at $62,000. If there is a close below $62,000, the price could start a drop toward the $61,200 level. Any more losses might send the price toward the $60,500 support zone in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 60 level.<\/p>\n<p>Major Support Levels \u2013 $64,500, followed by $63,500.<\/p>\n<p>Major Resistance Levels \u2013 $66,000, $67,000, and $68,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price failed to recover above the $68,000 resistance zone. BTC is sliding and might decline again toward the $62,000 support zone. Bitcoin price started a decent increase but struggled near the $68,000 zone. The price is trading below $66,000 and the 100 hourly Simple moving average. There is a short-term declining channel or a bullish flag forming with resistance at $66,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair must clear the $66,200 resistance zone to start a fresh increase. Bitcoin Price Faces Hurdles Bitcoin price attempted a decent recovery wave above the $65,000 resistance zone. BTC climbed above the $66,000 and $67,000 levels. However, the bears were active near the $68,000 level. A high was formed at $68,137 and the price is now moving lower. There was a break below the $66,000 support level. The price declined below the 23.6% Fib retracement level of the recovery wave from the $60,778 swing low to the $68,137 high. Bitcoin is now trading below $66,000 and the 100 hourly Simple moving average. The bulls are now trying to protect the 50% Fib retracement level of the recovery wave from the $60,778 swing low to the $68,137 high at $64,500. Immediate resistance is near the $66,000 level. There is also a short-term declining channel or a bullish flag forming with resistance at $66,200 on the hourly chart of the BTC\/USD pair. The first major resistance could be $67,000. Source: BTCUSD on TradingView.com If there is a clear move above the $67,000 resistance zone, the price could continue to gain strength. In the stated case, the price could even clear the $68,000 resistance zone in the near term. The next key resistance sits at $70,000. More Losses In BTC? If Bitcoin fails to rise above the $66,000 resistance zone, it could continue to move down. Immediate support on the downside is near the $64,500 level. The first major support is $63,500. The next support sits at $62,000. If there is a close below $62,000, the price could start a drop toward the $61,200 level. Any more losses might send the price toward the $60,500 support zone in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 60 level. Major Support Levels \u2013 $64,500, followed by $63,500. Major Resistance Levels \u2013 $66,000, $67,000, and $68,000.<\/p>\n","protected":false},"author":67,"featured_media":463396,"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-599128","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 Rejects $68K, Indicators Signal Fresh Downside To $62K<\/title>\n<meta name=\"description\" content=\"Bitcoin price failed to recover above the $68,000 resistance zone. 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