{"id":626799,"date":"2024-06-28T02:47:24","date_gmt":"2024-06-28T02:47:24","guid":{"rendered":"https:\/\/ktsl888.com\/?p=626799"},"modified":"2024-06-28T02:47:24","modified_gmt":"2024-06-28T02:47:24","slug":"bitcoin-price-recovery-62400","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-recovery-62400\/","title":{"rendered":"Bitcoin Price Recovery: Here Are Challenges On The Road to Rebound"},"content":{"rendered":"<p><em>Bitcoin price is consolidating above the $60,550 support zone. BTC could avoid more downsides if it manages to recover above the $62,400 resistance.<\/em><\/p>\n<ul>\n<li>Bitcoin is still struggling to recover above the $62,200 and $62,400 levels.<\/li>\n<li>The price is trading above $61,500 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break above a major bearish trend line with resistance at $61,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair might start another decline unless there is a close above the $62,400 resistance zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Faces Hurdles<\/h2>\n<p>Bitcoin price struggled to rise above the <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-dive-60k\/\" target=\"_blank\" rel=\"noopener \">$62,400 resistance zone<\/a>. BTC again declined below $62,000, but the bulls were able to protect the $60,550 support. The recent high was formed at $62,297 and the price is now consolidating.<\/p>\n<p>Recently, there was a break above a major bearish trend line with resistance at $61,250 on the hourly chart of the BTC\/USD pair. It is trading above the 50% Fib retracement level of the upward move from the $60,580 swing low to the $62,297 high.<\/p>\n<p>Bitcoin price is now trading above $61,500 and the <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-rejection-62500\/\" target=\"_blank\" rel=\"noopener \">100 hourly Simple moving average<\/a>. If there is another increase, the price could face resistance near the $62,250 level. The first key resistance is near the $62,400 level.<\/p>\n<figure id=\"attachment_626800\" aria-describedby=\"caption-attachment-626800\" style=\"width: 1024px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/Bitcoin_a2c958.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-626800 size-full\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/Bitcoin_a2c958.png?resize=1024%2C461\" alt=\"Bitcoin Price\" width=\"1024\" height=\"461\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/Bitcoin_a2c958.png?w=1835 1835w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/Bitcoin_a2c958.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/Bitcoin_a2c958.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/Bitcoin_a2c958.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/Bitcoin_a2c958.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/Bitcoin_a2c958.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/Bitcoin_a2c958.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-626800\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n<p>The next key resistance could be $62,500. 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 $64,400 resistance in the near term.<\/p>\n<h2>Another Decline In BTC?<\/h2>\n<p>If Bitcoin fails to climb above the $62,400 resistance zone, it could start another decline. Immediate support on the downside is near the $61,450 level and the 100 hourly Simple moving average.<\/p>\n<p>The first major support is $61,150 and the 61.8% Fib retracement level of the upward move from the $60,580 swing low to the $62,297 high. The next support is now forming near $60,550. Any more losses might send the price toward the $58,500 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 $61,150, followed by $60,550.<\/p>\n<p>Major Resistance Levels \u2013 $62,250, and $62,400.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is consolidating above the $60,550 support zone. BTC could avoid more downsides if it manages to recover above the $62,400 resistance. Bitcoin is still struggling to recover above the $62,200 and $62,400 levels. The price is trading above $61,500 and the 100 hourly Simple moving average. There was a break above a major bearish trend line with resistance at $61,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair might start another decline unless there is a close above the $62,400 resistance zone. Bitcoin Price Faces Hurdles Bitcoin price struggled to rise above the $62,400 resistance zone. BTC again declined below $62,000, but the bulls were able to protect the $60,550 support. The recent high was formed at $62,297 and the price is now consolidating. Recently, there was a break above a major bearish trend line with resistance at $61,250 on the hourly chart of the BTC\/USD pair. It is trading above the 50% Fib retracement level of the upward move from the $60,580 swing low to the $62,297 high. Bitcoin price is now trading above $61,500 and the 100 hourly Simple moving average. If there is another increase, the price could face resistance near the $62,250 level. The first key resistance is near the $62,400 level. The next key resistance could be $62,500. 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 $64,400 resistance in the near term. Another Decline In BTC? If Bitcoin fails to climb above the $62,400 resistance zone, it could start another decline. Immediate support on the downside is near the $61,450 level and the 100 hourly Simple moving average. The first major support is $61,150 and the 61.8% Fib retracement level of the upward move from the $60,580 swing low to the $62,297 high. The next support is now forming near $60,550. Any more losses might send the price toward the $58,500 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 $61,150, followed by $60,550. Major Resistance Levels \u2013 $62,250, and $62,400.<\/p>\n","protected":false},"author":67,"featured_media":626801,"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-626799","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<title>Bitcoin Price Recovery: Here Are Challenges On The Road to Rebound<\/title>\n<meta name=\"description\" content=\"Bitcoin price is consolidating above the $60,550 support zone. 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