{"id":606320,"date":"2024-05-03T02:58:02","date_gmt":"2024-05-03T02:58:02","guid":{"rendered":"https:\/\/ktsl888.com\/?p=606320"},"modified":"2024-06-11T14:45:28","modified_gmt":"2024-06-11T14:45:28","slug":"bitcoin-price-recovery-60k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-recovery-60k\/","title":{"rendered":"Bitcoin Price Recovery Could Face Many Hurdles Near $60K, Here\u2019s Why"},"content":{"rendered":"<p><em>Bitcoin price found support near the $56,350 zone. BTC is recovering higher, but the bears might be active near the $60,000 resistance zone.<\/em><\/p>\n<ul>\n<li>Bitcoin is attempting a recovery wave from the $56,350 support zone.<\/li>\n<li>The price is trading below $60,000 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break above a key bearish trend line with resistance at $57,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could struggle to clear the $60,000 and $60,500 resistance levels.<\/li>\n<\/ul>\n<h2>Bitcoin Price Faces Resistance<\/h2>\n<p>Bitcoin price extended losses below the $60,000 level to enter a <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-settles-60k\/\" target=\"_blank\" rel=\"noopener \">short-term bearish zone<\/a>. BTC even traded below the $58,000 level before the bulls appeared near the $56,350 level.<\/p>\n<p>A low was formed at $56,378 and the price started a decent recovery wave. The price climbed above the $58,000 resistance zone. There was a break above a key bearish trend line with resistance at $57,800 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>The price climbed above the 23.6% Fib retracement level of the downward wave from the $64,738 swing high to the $56,378 low. Bitcoin is still trading below $60,000 and the <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-nosedives-60k\/\" target=\"_blank\" rel=\"noopener \">100 hourly Simple moving average<\/a>.<\/p>\n<p>Immediate resistance is near the $60,000 level. The first major resistance could be $60,500. It is close to the 50% Fib retracement level of the downward wave from the $64,738 swing high to the $56,378 low. The next key resistance could be $61,500.<\/p>\n<p><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/05\/Bitcoin_1546ed.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-606321\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/05\/Bitcoin_1546ed.png?resize=1024%2C449\" alt=\"Bitcoin Price\" width=\"1024\" height=\"449\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/05\/Bitcoin_1546ed.png?w=1950 1950w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/05\/Bitcoin_1546ed.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/05\/Bitcoin_1546ed.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/05\/Bitcoin_1546ed.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/05\/Bitcoin_1546ed.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/05\/Bitcoin_1546ed.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/05\/Bitcoin_1546ed.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>A clear move above the $61,500 resistance might send the price higher. The next resistance now sits at $63,400. If there is a clear move above the $63,400 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $65,000.<\/p>\n<h2>Rejection In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $60,500 resistance zone, it could start another decline. Immediate support on the downside is near the $58,500 level.<\/p>\n<p>The first major support is $57,800. If there is a close below $57,800, the price could start to drop toward $56,350. Any more losses might send the price toward the $55,000 support zone in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $57,000, followed by $56,500.<\/p>\n<p>Major Resistance Levels \u2013 $60,000, $60,500, and $61,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price found support near the $56,350 zone. BTC is recovering higher, but the bears might be active near the $60,000 resistance zone. Bitcoin is attempting a recovery wave from the $56,350 support zone. The price is trading below $60,000 and the 100 hourly Simple moving average. There was a break above a key bearish trend line with resistance at $57,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could struggle to clear the $60,000 and $60,500 resistance levels. Bitcoin Price Faces Resistance Bitcoin price extended losses below the $60,000 level to enter a short-term bearish zone. BTC even traded below the $58,000 level before the bulls appeared near the $56,350 level. A low was formed at $56,378 and the price started a decent recovery wave. The price climbed above the $58,000 resistance zone. There was a break above a key bearish trend line with resistance at $57,800 on the hourly chart of the BTC\/USD pair. The price climbed above the 23.6% Fib retracement level of the downward wave from the $64,738 swing high to the $56,378 low. Bitcoin is still trading below $60,000 and the 100 hourly Simple moving average. Immediate resistance is near the $60,000 level. The first major resistance could be $60,500. It is close to the 50% Fib retracement level of the downward wave from the $64,738 swing high to the $56,378 low. The next key resistance could be $61,500. Source: BTCUSD on TradingView.com A clear move above the $61,500 resistance might send the price higher. The next resistance now sits at $63,400. If there is a clear move above the $63,400 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $65,000. Rejection In BTC? If Bitcoin fails to rise above the $60,500 resistance zone, it could start another decline. Immediate support on the downside is near the $58,500 level. The first major support is $57,800. If there is a close below $57,800, the price could start to drop toward $56,350. Any more losses might send the price toward the $55,000 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 above the 50 level. Major Support Levels \u2013 $57,000, followed by $56,500. Major Resistance Levels \u2013 $60,000, $60,500, and $61,500.<\/p>\n","protected":false},"author":67,"featured_media":464826,"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-606320","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 Recovery Could Face Many Hurdles Near $60K, Here\u2019s Why<\/title>\n<meta name=\"description\" content=\"Bitcoin price found support near the $56,350 zone. 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