BTCUSD on TradingView.com<\/a><\/p>\nThe next major resistance is near the $68,500 zone. Any more gains might send Bitcoin toward the $70,000 resistance zone in the near term.<\/p>\n
More Losses In BTC?<\/h2>\n If Bitcoin fails to rise above the $67,200 resistance zone, it could continue to move down. Immediate support on the downside is near the $65,200 level.<\/p>\n
The first major support is $64,500. The next support sits at $64,000. If there is a close below $64,000, the price could start a drop toward the $62,500 level. Any more losses might send the price toward the $60,500 support zone in the near term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now losing pace in the bearish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n
Major Support Levels \u2013 $65,200, followed by $64,500.<\/p>\n
Major Resistance Levels \u2013 $66,000, $67,200, and $67,950.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price extended its decline below the $65,000 support zone. BTC is now consolidating losses and might attempt a recovery wave toward $67,000. Bitcoin price declined further below the $65,500 and $65,000 levels. The price is trading below $67,500 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance near $67,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could recover but the bears might remain active near $67,000. Bitcoin Price Drops Further Bitcoin price turned red after it broke the $68,000 support zone. BTC extended its decline below the $65,500 and $65,000 levels. Finally, it tested the $64,500 region. A low was formed near $64,572 and the price is now consolidating losses. There was a move above the $65,000 level. The price even tested the 23.6% Fib retracement level of the downward move from the $71,306 swing high to the $64,572 low. Bitcoin is now trading below $67,000 and the 100 hourly Simple moving average. There is also a key bearish trend line forming with resistance near $67,200 on the hourly chart of the BTC\/USD. Immediate resistance is near the $66,000 level. The first major resistance could be $67,200 and the trend line. If there is a clear move above the $67,200 resistance zone, the price could start a fresh increase. In the stated case, the price could rise toward the 50% Fib retracement level of the downward move from the $71,306 swing high to the $64,572 low at $67,950. Source: BTCUSD on TradingView.com The next major resistance is near the $68,500 zone. Any more gains might send Bitcoin toward the $70,000 resistance zone in the near term. More Losses In BTC? If Bitcoin fails to rise above the $67,200 resistance zone, it could continue to move down. Immediate support on the downside is near the $65,200 level. The first major support is $64,500. The next support sits at $64,000. If there is a close below $64,000, the price could start a drop toward the $62,500 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 losing pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level. Major Support Levels \u2013 $65,200, followed by $64,500. Major Resistance Levels \u2013 $66,000, $67,200, and $67,950.<\/p>\n","protected":false},"author":67,"featured_media":458753,"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-601105","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
Bitcoin Price Consolidates Losses But Recovery Could Face Hurdles<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n