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{"id":635324,"date":"2024-08-14T02:15:46","date_gmt":"2024-08-14T02:15:46","guid":{"rendered":"https:\/\/www.ktsl888.com\/?p=635324"},"modified":"2024-08-14T02:15:46","modified_gmt":"2024-08-14T02:15:46","slug":"bitcoin-price-crosses-60k","status":"publish","type":"post","link":"https:\/\/www.ktsl888.com\/analysis\/btc\/bitcoin-price-crosses-60k\/","title":{"rendered":"Bitcoin Price Crosses $60K, But Struggles to Maintain Pace"},"content":{"rendered":"

Bitcoin price recovered above the $60,000 resistance zone. BTC is now struggling to clear the $61,200 and $61,500 resistance levels.<\/em><\/p>\n

\n
Bitcoin started a recovery wave above the $60,000 resistance zone.<\/li>\n
The price is trading above $60,000 and the 100 hourly Simple moving average.<\/li>\n
There was a break above a connecting bearish trend line with resistance at $59,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair might attempt a fresh increase if it settles above the $61,500 resistance zone.<\/li>\n<\/ul>\n
Bitcoin Price Builds Momentum<\/h2>\n
Bitcoin price started a decent upward move<\/a> above the $58,500 resistance zone. BTC was able to clear the $59,500 and $60,000 resistance levels.<\/p>\n
There was a break above a connecting bearish trend line with resistance at $59,500 on the hourly chart of the BTC\/USD pair. It even spiked above the $61,500 level. A high was formed at $61,555 and the price is now correcting gains.<\/p>\n
There was a move below the $61,200 and $61,000 levels. The price dipped below the 23.6% Fib retracement level of the upward move from the $58,441 swing low to the $61,555 high.<\/p>\n
Bitcoin price is now trading above $60,000 and the 100 hourly Simple moving average<\/a>. It is also well above the 50% Fib retracement level of the upward move from the $58,441 swing low to the $61,555 high. On the upside, the price could face resistance near the $61,200 level.<\/p>\n
The first key resistance is near the $61,500 level. A clear move above the $61,500 resistance might send the price further higher in the coming sessions. The next key resistance could be $62,500.<\/p>\n
$\"Bitcoin$ <\/a>
Source: BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
The next major hurdle sits at $63,500. A close above the $63,500 resistance might spark more upsides. In the stated case, the price could rise and test the $65,000 resistance.<\/p>\n
Another Drop In BTC?<\/h2>\n
If Bitcoin fails to rise above the $61,500 resistance zone, it could start another decline. Immediate support on the downside is near the $60,000 level and the 100 hourly Simple moving average.<\/p>\n
The first major support is $59,650. The next support is now near the $59,150 zone. Any more losses might send the price toward the $58,500 support zone or even $57,200 in the near term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n
Major Support Levels \u2013 $60,000, followed by $59,650.<\/p>\n
Major Resistance Levels \u2013 $61,200, and $61,500.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price recovered above the $60,000 resistance zone. BTC is now struggling to clear the $61,200 and $61,500 resistance levels. Bitcoin started a recovery wave above the $60,000 resistance zone. The price is trading above $60,000 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend line with resistance at $59,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair might attempt a fresh increase if it settles above the $61,500 resistance zone. Bitcoin Price Builds Momentum Bitcoin price started a decent upward move above the $58,500 resistance zone. BTC was able to clear the $59,500 and $60,000 resistance levels. There was a break above a connecting bearish trend line with resistance at $59,500 on the hourly chart of the BTC\/USD pair. It even spiked above the $61,500 level. A high was formed at $61,555 and the price is now correcting gains. There was a move below the $61,200 and $61,000 levels. The price dipped below the 23.6% Fib retracement level of the upward move from the $58,441 swing low to the $61,555 high. Bitcoin price is now trading above $60,000 and the 100 hourly Simple moving average. It is also well above the 50% Fib retracement level of the upward move from the $58,441 swing low to the $61,555 high. On the upside, the price could face resistance near the $61,200 level. The first key resistance is near the $61,500 level. A clear move above the $61,500 resistance might send the price further higher in the coming sessions. The next key resistance could be $62,500. The next major hurdle sits at $63,500. A close above the $63,500 resistance might spark more upsides. In the stated case, the price could rise and test the $65,000 resistance. Another Drop In BTC? If Bitcoin fails to rise above the $61,500 resistance zone, it could start another decline. Immediate support on the downside is near the $60,000 level and the 100 hourly Simple moving average. The first major support is $59,650. The next support is now near the $59,150 zone. Any more losses might send the price toward the $58,500 support zone or even $57,200 in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $60,000, followed by $59,650. Major Resistance Levels \u2013 $61,200, and $61,500.<\/p>\n","protected":false},"author":67,"featured_media":635326,"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-635324","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":"\nBitcoin Price Crosses $60K, But Struggles to Maintain Pace<\/title>\n<meta name=\"description\" content=\"Bitcoin price recovered above the $60,000 resistance zone. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. 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