{"id":638597,"date":"2024-08-30T02:00:52","date_gmt":"2024-08-30T02:00:52","guid":{"rendered":"https:\/\/ktsl888.com\/?p=638597"},"modified":"2024-08-29T16:54:25","modified_gmt":"2024-08-29T16:54:25","slug":"bitcoin-reclaims-61000-key-levels-to-watch-for-continuous-surge","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/bitcoin-news\/bitcoin-reclaims-61000-key-levels-to-watch-for-continuous-surge\/","title":{"rendered":"Bitcoin Reclaims $61,000: Key Levels To Watch For Continuous Surge"},"content":{"rendered":"<p>Bitcoin has recently shown signs of recovery, reclaiming the $61,000 level after a brief but sharp decline earlier this week. This bounce back in price has sparked renewed interest among the crypto community, with many closely watching for the next <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/analyst-predicts-bitcoin-will-top-out-by-2025-but-at-what-price-target\/\" target=\"_blank\" rel=\"noopener \">key moves in the market<\/a>.<\/p>\n<p>Particularly, this latest price action has led to various analyses, focusing on whether the asset can maintain its momentum and break through critical resistance levels that have previously <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-drops-60k\/\" target=\"_blank\" rel=\"noopener \">hindered its progress<\/a>.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/analyst-predicts-bitcoin-will-top-out-by-2025-but-at-what-price-target\/\" target=\"_blank\" rel=\"noopener \">Analyst Predicts Bitcoin Will Top Out By 2025, But At What Price Target?<\/a><\/div>\n<h2>The Path Forward: Key Levels To Watch<\/h2>\n<p>One prominent voice in the crypto community, Captain Faibik, shared his <a href=\"https:\/\/x.com\/CryptoFaibik\/status\/58691338\" target=\"_blank\" rel=\"noopener nofollow\">insights<\/a> earlier today, emphasizing the importance of the $69,000 to $70,000 resistance zone. According to Faibik, Bitcoin has been consolidating within a &#8216;Descending Broadening Wedge&#8217; for the past six months.<\/p>\n<figure style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/media\/GWIFyapWgAACk5A?format=jpg&amp;name=medium\" alt=\"Descending Broadening Wedge pattern on Bitcoin chart.\" width=\"1200\" height=\"573\"><figcaption class=\"wp-caption-text\">Descending Broadening Wedge pattern on Bitcoin chart. | Source: Captain Faibik<\/figcaption><\/figure>\n<p>This pattern is often seen as a <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoins-august-candle-hints-at-major-reversal\/\" target=\"_blank\" rel=\"noopener \">precursor to a significant breakout<\/a>, should the right conditions be met. Faibik pointed out that breaking through the $69,000 to $70,000 resistance level is crucial for the bulls, as previous attempts have failed to clear this barrier.<\/p>\n<p>However, he remains optimistic, suggesting that this time might be different due to the weakening of the resistance. If Bitcoin can successfully break out of the Descending Broadening Wedge to the upside, Faibik believes that the top crypto could easily reach the $100,000 mark by the fourth quarter of this year.<\/p>\n<p>However, despite this optimism, Faibik advises:<\/p>\n<blockquote><p>For now, leverage trading might not be ideal. If you&#8217;re a Bitcoin holder, it\u2019s time to sit back and Relax, as the Bitcoin bull run is very close.<\/p><\/blockquote>\n<h2>Bitcoin Gradual Recovery<\/h2>\n<p>At the time of writing, Bitcoin is trading at $60,112, reflecting a 4.1% increase over the past 24 hours. This marks a gradual recovery from the dip below $59,000 seen earlier this week. Despite this <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoins-august-candle-hints-at-major-reversal\/\" target=\"_blank\" rel=\"noopener \">positive movement<\/a>, Bitcoin remains down 1.8% over the past week, indicating that the market is still in a state of bearishness.<\/p>\n<figure style=\"width: 2770px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/CpP2ZgSI\/\" alt=\"Bitcoin (BTC) price chart on TradingView\" width=\"2770\" height=\"1496\"><figcaption class=\"wp-caption-text\">BTC price is moving sideways on the 2-hour chart. Source: BTC\/USDT on <a href=\"https:\/\/www.tradingview.com\/chart\/HSuSIPeM\/?symbol=BINANCE%3ABTCUSDT\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<p>Another analyst, Crypto Feras, also <a href=\"https:\/\/x.com\/CryptoFeras\/status\/49937646\" target=\"_blank\" rel=\"noopener nofollow\">weighed in<\/a> on Bitcoin&#8217;s current price action, highlighting the importance of the $61,000 to $62,000 zone.<\/p>\n<p>According to Crypto Fears, this region was a critical support level that needed to hold to maintain bullish momentum. However, as Bitcoin failed to hold this level, the market experienced a further decline.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/bitcoin-news\/bitcoins-august-candle-hints-at-major-reversal\/\" target=\"_blank\" rel=\"noopener \">Bitcoin\u2019s August Candle Hints at Major Reversal\u2014Are Bulls About to Take Over?<\/a><\/div>\n<p>The analyst noted that while Bitcoin is currently bouncing back, reclaiming the $61,000 to $62,000 zone and the 200-day Exponential Moving Average (EMA) is crucial for a <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-forecast-4-reasons-bullish-q4\/\" target=\"_blank\" rel=\"noopener \">sustained recovery<\/a>. Failure to do so could result in another leg down, making the $61,500 zone a key area to watch in the coming days.<\/p>\n<p>Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin has recently shown signs of recovery, reclaiming the $61,000 level after a brief but sharp decline earlier this week. This bounce back in price has sparked renewed interest among the crypto community, with many closely watching for the next key moves in the market. Particularly, this latest price action has led to various analyses, focusing on whether the asset can maintain its momentum and break through critical resistance levels that have previously hindered its progress. Related Reading: Analyst Predicts Bitcoin Will Top Out By 2025, But At What Price Target? The Path Forward: Key Levels To Watch One prominent voice in the crypto community, Captain Faibik, shared his insights earlier today, emphasizing the importance of the $69,000 to $70,000 resistance zone. According to Faibik, Bitcoin has been consolidating within a &#8216;Descending Broadening Wedge&#8217; for the past six months. This pattern is often seen as a precursor to a significant breakout, should the right conditions be met. Faibik pointed out that breaking through the $69,000 to $70,000 resistance level is crucial for the bulls, as previous attempts have failed to clear this barrier. However, he remains optimistic, suggesting that this time might be different due to the weakening of the resistance. If Bitcoin can successfully break out of the Descending Broadening Wedge to the upside, Faibik believes that the top crypto could easily reach the $100,000 mark by the fourth quarter of this year. However, despite this optimism, Faibik advises: For now, leverage trading might not be ideal. If you&#8217;re a Bitcoin holder, it\u2019s time to sit back and Relax, as the Bitcoin bull run is very close. Bitcoin Gradual Recovery At the time of writing, Bitcoin is trading at $60,112, reflecting a 4.1% increase over the past 24 hours. This marks a gradual recovery from the dip below $59,000 seen earlier this week. Despite this positive movement, Bitcoin remains down 1.8% over the past week, indicating that the market is still in a state of bearishness. Another analyst, Crypto Feras, also weighed in on Bitcoin&#8217;s current price action, highlighting the importance of the $61,000 to $62,000 zone. According to Crypto Fears, this region was a critical support level that needed to hold to maintain bullish momentum. However, as Bitcoin failed to hold this level, the market experienced a further decline. Related Reading: Bitcoin\u2019s August Candle Hints at Major Reversal\u2014Are Bulls About to Take Over? The analyst noted that while Bitcoin is currently bouncing back, reclaiming the $61,000 to $62,000 zone and the 200-day Exponential Moving Average (EMA) is crucial for a sustained recovery. Failure to do so could result in another leg down, making the $61,500 zone a key area to watch in the coming days. Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":638612,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,441,629,6848,1119,78790],"class_list":["post-638597","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-analysis","tag-bitcoin-market","tag-bitcoin-price-prediction","tag-btc","tag-btcusdt"],"acf":[],"yoast_head":"\n<title>Bitcoin Reclaims $61,000: Key Levels To Watch For Continuous Surge<\/title>\n<meta name=\"description\" content=\"Bitcoin has recently shown signs of recovery, reclaiming the $61,000 level after a brief but sharp decline earlier this week. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.\",\"sameAs\":[\"https:\/\/x.com\/0xEdyme\"],\"url\":\"https:\/\/ktsl888.com\/author\/samueledymeabayomi\/\"}]}<\/script>\n","yoast_head_json":{"title":"Bitcoin Reclaims $61,000: Key Levels To Watch For Continuous Surge","description":"Bitcoin has recently shown signs of recovery, reclaiming the $61,000 level after a brief but sharp decline earlier this week. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/ktsl888.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Reclaims $61,000: Key Levels To Watch For Continuous Surge","url":"http:\/\/ktsl888.com\/bitcoin-news\/bitcoin-reclaims-61000-key-levels-to-watch-for-continuous-surge\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/bitcoin-news\/bitcoin-reclaims-61000-key-levels-to-watch-for-continuous-surge\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-29-17.20.47-A-digital-illustration-celebrating-Bitcoins-reclamation-of-61000-with-a-focus-on-key-levels-to-watch-for-a-continuous-surge.-The-image-features-a-.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-29-17.20.47-A-digital-illustration-celebrating-Bitcoins-reclamation-of-61000-with-a-focus-on-key-levels-to-watch-for-a-continuous-surge.-The-image-features-a-.jpg?fit=1024%2C1024"},"articleSection":"Bitcoin News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin analysis","bitcoin market","bitcoin price prediction","btc","btcusdt"],"dateCreated":"2024-08-30T02:00:52Z","datePublished":"2024-08-30T02:00:52Z","dateModified":"2024-08-30T02:00:52Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Reclaims $61,000: Key Levels To Watch For Continuous Surge\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/bitcoin-news\\\/bitcoin-reclaims-61000-key-levels-to-watch-for-continuous-surge\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/bitcoin-news\\\/bitcoin-reclaims-61000-key-levels-to-watch-for-continuous-surge\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/DALL\\u00b7E-2024-08-29-17.20.47-A-digital-illustration-celebrating-Bitcoins-reclamation-of-61000-with-a-focus-on-key-levels-to-watch-for-a-continuous-surge.-The-image-features-a-.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/DALL\\u00b7E-2024-08-29-17.20.47-A-digital-illustration-celebrating-Bitcoins-reclamation-of-61000-with-a-focus-on-key-levels-to-watch-for-a-continuous-surge.-The-image-features-a-.jpg?fit=1024%2C1024\"},\"articleSection\":\"Bitcoin News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin analysis\",\"bitcoin market\",\"bitcoin price prediction\",\"btc\",\"btcusdt\"],\"dateCreated\":\"2024-08-30T02:00:52Z\",\"datePublished\":\"2024-08-30T02:00:52Z\",\"dateModified\":\"2024-08-30T02:00:52Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-29-17.20.47-A-digital-illustration-celebrating-Bitcoins-reclamation-of-61000-with-a-focus-on-key-levels-to-watch-for-a-continuous-surge.-The-image-features-a-.jpg?fit=1024%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/638597","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=638597"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/638597\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/638612"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=638597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=638597"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=638597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}