{"id":631239,"date":"2024-07-24T02:44:49","date_gmt":"2024-07-24T02:44:49","guid":{"rendered":"https:\/\/ktsl888.com\/?p=631239"},"modified":"2024-07-24T02:44:49","modified_gmt":"2024-07-24T02:44:49","slug":"bitcoin-price-dips-65500","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-dips-65500\/","title":{"rendered":"Bitcoin Price Dips: Is This the Start of a Fresh Downside?"},"content":{"rendered":"<p><em>Bitcoin price struggled below the $68,500 resistance zone. BTC is correcting gains and might decline further below the $65,500 support zone.<\/em><\/p>\n<ul>\n<li>Bitcoin started a correction wave from the $68,500 resistance zone.<\/li>\n<li>The price is trading below $66,500 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break below a key bullish trend line with support at $67,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair might extend losses and trade below the $65,500 support zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Holds Gains Above $67K<\/h2>\n<p>Bitcoin price failed to stay above the <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-consolidates-66k\/\" target=\"_blank\" rel=\"noopener \">$66,500 and $67,000 resistance levels<\/a>. BTC extended its decline and traded below the $66,000 support level to move into a short-term bearish zone.<\/p>\n<p>There was a break below a key bullish trend line with support at $67,200 on the hourly chart of the BTC\/USD pair. The pair even spiked below the $65,500 level. A low is formed at $65,458 and the price is now consolidating losses. It is trading below the 23.6% Fib retracement level of the recent decline from the $68,240 swing high to the $65,458 low.<\/p>\n<p>Bitcoin price is now trading below $66,500 and the <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-regains-68k\/\" target=\"_blank\" rel=\"noopener \">100 hourly Simple moving average<\/a>. If there is a fresh increase, the price could face resistance near the $66,150 level.<\/p>\n<p>The first key resistance is near the $66,800 level and the 50% Fib retracement level of the recent decline from the $68,240 swing high to the $65,458 low. A clear move above the $66,800 resistance might spark another increase in the coming sessions.<\/p>\n<figure id=\"attachment_631240\" aria-describedby=\"caption-attachment-631240\" style=\"width: 1024px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/Bitcoin_f50782.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-631240 size-full\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/Bitcoin_f50782.png?resize=1024%2C461\" alt=\"Bitcoin Price\" width=\"1024\" height=\"461\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/Bitcoin_f50782.png?w=1835 1835w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/Bitcoin_f50782.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/Bitcoin_f50782.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/Bitcoin_f50782.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/Bitcoin_f50782.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/Bitcoin_f50782.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/Bitcoin_f50782.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-631240\" 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 $67,100. The next major hurdle sits at $67,200. A close above the $67,200 resistance might push the price further higher. In the stated case, the price could rise and test the $68,000 resistance.<\/p>\n<h2>More Losses In BTC?<\/h2>\n<p>If Bitcoin fails to climb above the $67,200 resistance zone, it could continue to move down. Immediate support on the downside is near the $65,500 level.<\/p>\n<p>The first major support is $65,080. The next support is now near $64,200. Any more losses might send the price toward the $63,500 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 $65,500, followed by $65,000.<\/p>\n<p>Major Resistance Levels \u2013 $67,200, and $68,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price struggled below the $68,500 resistance zone. BTC is correcting gains and might decline further below the $65,500 support zone. Bitcoin started a correction wave from the $68,500 resistance zone. The price is trading below $66,500 and the 100 hourly Simple moving average. There was a break below a key bullish trend line with support at $67,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair might extend losses and trade below the $65,500 support zone. Bitcoin Price Holds Gains Above $67K Bitcoin price failed to stay above the $66,500 and $67,000 resistance levels. BTC extended its decline and traded below the $66,000 support level to move into a short-term bearish zone. There was a break below a key bullish trend line with support at $67,200 on the hourly chart of the BTC\/USD pair. The pair even spiked below the $65,500 level. A low is formed at $65,458 and the price is now consolidating losses. It is trading below the 23.6% Fib retracement level of the recent decline from the $68,240 swing high to the $65,458 low. Bitcoin price is now trading below $66,500 and the 100 hourly Simple moving average. If there is a fresh increase, the price could face resistance near the $66,150 level. The first key resistance is near the $66,800 level and the 50% Fib retracement level of the recent decline from the $68,240 swing high to the $65,458 low. A clear move above the $66,800 resistance might spark another increase in the coming sessions. The next key resistance could be $67,100. The next major hurdle sits at $67,200. A close above the $67,200 resistance might push the price further higher. In the stated case, the price could rise and test the $68,000 resistance. More Losses In BTC? If Bitcoin fails to climb above the $67,200 resistance zone, it could continue to move down. Immediate support on the downside is near the $65,500 level. The first major support is $65,080. The next support is now near $64,200. Any more losses might send the price toward the $63,500 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 $65,500, followed by $65,000. Major Resistance Levels \u2013 $67,200, and $68,000.<\/p>\n","protected":false},"author":67,"featured_media":631241,"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-631239","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 Dips: Is This the Start of a Fresh Downside?<\/title>\n<meta name=\"description\" content=\"Bitcoin price struggled below the $68,500 resistance zone. 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