BTCUSD on TradingView.com<\/a><\/p>\nThe next major resistance is near the $68,750 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 $66,600 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 $64,600. 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 gaining 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 $66,600, $67,000, and $67,950.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is struggling to recover above the $67,000 zone. BTC could gain bearish momentum if there is a close below the $64,500 level. Bitcoin is facing many hurdles near the $66,500 and $67,000 levels. The price is trading below $67,000 and the 100 hourly Simple moving average. There is a major bearish trend line forming with resistance near $66,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is now at risk of a downside break below the $64,500 support zone. Bitcoin Price Upsides Remain Capped Bitcoin price started a consolidation phase after there was a drop toward the $64,500 level. BTC traded as low as $64,572 and recently attempted a minor recovery wave. There was a move above the $66,000 level. The price climbed above the 23.6% Fib retracement level of the downward wave from the $71,305 swing high to the $64,570 low. However, the bears were active near the $66,600 level. Bitcoin is now trading below $67,000 and the 100 hourly Simple moving average. There is also a major bearish trend line forming with resistance near $66,400 on the hourly chart of the BTC\/USD pair. Immediate resistance is near the $66,400 level and the trend line. The first major resistance could be $66,600. If there is a clear move above the $66,600 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 wave from the $71,305 swing high to the $64,570 low at $67,950. Source: BTCUSD on TradingView.com The next major resistance is near the $68,750 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 $66,600 resistance zone, it could continue to move down. Immediate support on the downside is near the $65,200 level. The first major support is $64,600. 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 gaining 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 $66,600, $67,000, and $67,950.<\/p>\n","protected":false},"author":67,"featured_media":459394,"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-601329","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 Could Struggle And Continue Lower \u2013 Here\u2019s Why<\/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