{"id":607133,"date":"2024-05-09T02:48:05","date_gmt":"2024-05-09T02:48:05","guid":{"rendered":"https:\/\/ktsl888.com\/?p=607133"},"modified":"2024-06-11T10:35:48","modified_gmt":"2024-06-11T10:35:48","slug":"bitcoin-bears-pushing-60k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-bears-pushing-60k\/","title":{"rendered":"Bitcoin Bears Keeps Pushing, Why BTC Could Turn Bearish Below $60K?"},"content":{"rendered":"<p><em>Bitcoin price extended losses and traded below the $62,500 zone. BTC is showing bearish signs and might turn bearish if it settles below $60,000.<\/em><\/p>\n<ul>\n<li>Bitcoin followed a bearish path and traded below $62,500.<\/li>\n<li>The price is trading below $63,000 and the 100 hourly Simple moving average.<\/li>\n<li>There is a connecting bearish trend line forming with resistance at $62,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could extend losses and revisit the $60,000 support zone in the near term.<\/li>\n<\/ul>\n<h2>Bitcoin Price Extends Decline<\/h2>\n<p>Bitcoin price struggled to stay above the $63,500 zone and <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-dips-63500\/\" target=\"_blank\" rel=\"noopener \">extended losses<\/a>. There was a move below the $63,000 and $62,500 levels. The bears even pushed it below $61,200.<\/p>\n<p>A low was formed at $60,888 and the price is now consolidating losses. If there is a recovery wave, the price might struggle to clear the $62,000 resistance or the 23.6% Fib retracement level of the recent decline from the $65,500 swing high to the $60,888 low.<\/p>\n<p>There is also a connecting bearish trend line forming with resistance at $62,000 on the hourly chart of the BTC\/USD pair. Bitcoin is now trading below $63,000 and the <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-uptrend-65500\/\" target=\"_blank\" rel=\"noopener \">100 hourly Simple moving average<\/a>.<\/p>\n<p>Immediate resistance is near the $61,800 level. The first major resistance could be $62,000. The next key resistance could be $63,200 and the 100 hourly Simple moving average. It is close to the 50% Fib retracement level of the recent decline from the $65,500 swing high to the $60,888 low.<\/p>\n<p><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/05\/Bitcoin_922c21.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-607134\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/05\/Bitcoin_922c21.png?resize=1024%2C461\" alt=\"Bitcoin Price\" width=\"1024\" height=\"461\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/05\/Bitcoin_922c21.png?w=1835 1835w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/05\/Bitcoin_922c21.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/05\/Bitcoin_922c21.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/05\/Bitcoin_922c21.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/05\/Bitcoin_922c21.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/05\/Bitcoin_922c21.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/05\/Bitcoin_922c21.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>The main hurdle is now at $63,800. A clear move above the $63,800 resistance might send the price higher. The next resistance now sits at $64,450. If there is a close above the $64,450 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $65,500.<\/p>\n<h2>More Downsides In BTC?<\/h2>\n<p>If Bitcoin fails to climb above the $62,000 resistance zone, it could continue to move down. Immediate support on the downside is near the $60,850 level.<\/p>\n<p>The first major support is $60,000. If there is a close below $60,000, the price could start to drop toward $58,000. Any more losses might send the price toward the $56,500 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 50 level.<\/p>\n<p>Major Support Levels \u2013 $60,850, followed by $60,000.<\/p>\n<p>Major Resistance Levels \u2013 $62,000, $63,200, and $64,450.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price extended losses and traded below the $62,500 zone. BTC is showing bearish signs and might turn bearish if it settles below $60,000. Bitcoin followed a bearish path and traded below $62,500. The price is trading below $63,000 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $62,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could extend losses and revisit the $60,000 support zone in the near term. Bitcoin Price Extends Decline Bitcoin price struggled to stay above the $63,500 zone and extended losses. There was a move below the $63,000 and $62,500 levels. The bears even pushed it below $61,200. A low was formed at $60,888 and the price is now consolidating losses. If there is a recovery wave, the price might struggle to clear the $62,000 resistance or the 23.6% Fib retracement level of the recent decline from the $65,500 swing high to the $60,888 low. There is also a connecting bearish trend line forming with resistance at $62,000 on the hourly chart of the BTC\/USD pair. Bitcoin is now trading below $63,000 and the 100 hourly Simple moving average. Immediate resistance is near the $61,800 level. The first major resistance could be $62,000. The next key resistance could be $63,200 and the 100 hourly Simple moving average. It is close to the 50% Fib retracement level of the recent decline from the $65,500 swing high to the $60,888 low. Source: BTCUSD on TradingView.com The main hurdle is now at $63,800. A clear move above the $63,800 resistance might send the price higher. The next resistance now sits at $64,450. If there is a close above the $64,450 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $65,500. More Downsides In BTC? If Bitcoin fails to climb above the $62,000 resistance zone, it could continue to move down. Immediate support on the downside is near the $60,850 level. The first major support is $60,000. If there is a close below $60,000, the price could start to drop toward $58,000. Any more losses might send the price toward the $56,500 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 $60,850, followed by $60,000. Major Resistance Levels \u2013 $62,000, $63,200, and $64,450.<\/p>\n","protected":false},"author":67,"featured_media":450862,"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-607133","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 Bears Keeps Pushing, Why BTC Could Turn Bearish Below $60K?<\/title>\n<meta name=\"description\" content=\"Bitcoin price extended losses and traded below the $62,500 zone. 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