BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\nA clear move above the $62,500 resistance might start a steady increase and send the price higher. In the stated case, the price could rise and test the $63,500 resistance. Any more gains might send BTC toward the $65,000 resistance in the near term.<\/p>\n
Another Drop In BTC?<\/h2>\n If Bitcoin fails to climb above the $62,500 resistance zone, it could continue to move down. Immediate support on the downside is near the $61,200 level.<\/p>\n
The first major support is $60,000. The next support is now forming near $58,500. Any more losses might send the price toward the $57,000 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 $61,200, followed by $60,000.<\/p>\n
Major Resistance Levels \u2013 $62,150, and $62,500.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price gained bearish momentum and traded below $60,000. BTC is signaling a short-term downtrend and might face hurdles near $62,000. Bitcoin started a fresh decline from the $62,550 resistance level. The price is trading below $61,500 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance at $62,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could correct higher, but upsides might be limited above the $62,000 resistance zone. Bitcoin Price Nosedives Bitcoin price failed to recover above the $63,500 level. BTC struggled above $63,000 and started another decline. There was a strong decline below the $62,000 and $61,500 levels. The price even declined below the $60,000 level. A low was formed at $58,448 and the price is now correcting losses. There was a minor increase above the $59,800 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $64,460 swing high to the $58,448 low. Bitcoin price is now trading below $61,500 and the 100 hourly Simple moving average. If there is a recovery wave, the price could face resistance near the $61,500 level. The first major resistance could be $62,150 or the 50% Fib retracement level of the downward move from the $64,460 swing high to the $58,448 low. The next key resistance could be $62,500. There is also a key bearish trend line forming with resistance at $62,400 on the hourly chart of the BTC\/USD pair. A clear move above the $62,500 resistance might start a steady increase and send the price higher. In the stated case, the price could rise and test the $63,500 resistance. Any more gains might send BTC toward the $65,000 resistance in the near term. Another Drop In BTC? If Bitcoin fails to climb above the $62,500 resistance zone, it could continue to move down. Immediate support on the downside is near the $61,200 level. The first major support is $60,000. The next support is now forming near $58,500. Any more losses might send the price toward the $57,000 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 $61,200, followed by $60,000. Major Resistance Levels \u2013 $62,150, and $62,500.<\/p>\n","protected":false},"author":67,"featured_media":626202,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83361],"tags":[428,679,1144,78790,76835],"class_list":["post-626200","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-btc","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n
Bitcoin Dives, Breaks $60K: Market Reels From Sharp Decline<\/title>\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