{"id":636349,"date":"2024-08-19T06:34:02","date_gmt":"2024-08-19T06:34:02","guid":{"rendered":"https:\/\/ktsl888.com\/?p=636349"},"modified":"2024-08-19T06:34:02","modified_gmt":"2024-08-19T06:34:02","slug":"bitcoin-price-trims-gains-60k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-trims-gains-60k\/","title":{"rendered":"Bitcoin Price Trims Gains: Is The Recovery Losing Steam?"},"content":{"rendered":"<p><em>Bitcoin price started a fresh decline from the $60,000 resistance zone. BTC is now moving lower and might test the $57,650 support zone.<\/em><\/p>\n<ul>\n<li>Bitcoin started a fresh decline from the $60,000 resistance zone.<\/li>\n<li>The price is trading below $58,800 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break below a key bullish trend line with support at $59,700 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair might attempt a fresh increase if it stays above the $57,650 zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Dips Again<\/h2>\n<p>Bitcoin price struggled to settle above the <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-support-58k\/\" target=\"_blank\" rel=\"noopener \">$60,000 resistance zone<\/a>. BTC formed a top near the $60,200 level before the price started a fresh decline. There was a move below the $58,500 support zone.<\/p>\n<p>The price declined below the 23.6% Fib retracement level of the upward move from the $56,117 swing low to the $60,210 high. Besides, there was a break below a key bullish trend line with support at $59,700 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>The pair retested the $58,000 support zone. Bitcoin price is now trading below $59,000 and the <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-crosses-60k\/\" target=\"_blank\" rel=\"noopener \">100 hourly Simple moving average<\/a>. However, the price is still above the 50% Fib retracement level of the upward move from the $56,117 swing low to the $60,210 high.<\/p>\n<p>On the upside, the price could face resistance near the $58,800 level. The first key resistance is near the $59,500 level. A clear move above the $59,500 resistance might send the price further higher in the coming sessions. The next key resistance could be $60,000.<\/p>\n<figure id=\"attachment_636350\" aria-describedby=\"caption-attachment-636350\" style=\"width: 1024px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Bitcoin_e5fa82.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-636350 size-full\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Bitcoin_e5fa82.png?resize=1024%2C449\" alt=\"Bitcoin Price \" width=\"1024\" height=\"449\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Bitcoin_e5fa82.png?w=1950 1950w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Bitcoin_e5fa82.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Bitcoin_e5fa82.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Bitcoin_e5fa82.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Bitcoin_e5fa82.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Bitcoin_e5fa82.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Bitcoin_e5fa82.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-636350\" 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>A close above the $60,000 resistance might spark more upsides. In the stated case, the price could rise and test the $61,500 resistance.<\/p>\n<h2>More Losses In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $58,800 resistance zone, it could continue to move down. Immediate support on the downside is near the $58,000 level.<\/p>\n<p>The first major support is $57,650. The next support is now near the $57,000 zone. Any more losses might send the price toward the $55,500 support zone or even $55,000 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 $58,000, followed by $57,650.<\/p>\n<p>Major Resistance Levels \u2013 $58,800, and $59,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price started a fresh decline from the $60,000 resistance zone. BTC is now moving lower and might test the $57,650 support zone. Bitcoin started a fresh decline from the $60,000 resistance zone. The price is trading below $58,800 and the 100 hourly Simple moving average. There was a break below a key bullish trend line with support at $59,700 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair might attempt a fresh increase if it stays above the $57,650 zone. Bitcoin Price Dips Again Bitcoin price struggled to settle above the $60,000 resistance zone. BTC formed a top near the $60,200 level before the price started a fresh decline. There was a move below the $58,500 support zone. The price declined below the 23.6% Fib retracement level of the upward move from the $56,117 swing low to the $60,210 high. Besides, there was a break below a key bullish trend line with support at $59,700 on the hourly chart of the BTC\/USD pair. The pair retested the $58,000 support zone. Bitcoin price is now trading below $59,000 and the 100 hourly Simple moving average. However, the price is still above the 50% Fib retracement level of the upward move from the $56,117 swing low to the $60,210 high. On the upside, the price could face resistance near the $58,800 level. The first key resistance is near the $59,500 level. A clear move above the $59,500 resistance might send the price further higher in the coming sessions. The next key resistance could be $60,000. A close above the $60,000 resistance might spark more upsides. In the stated case, the price could rise and test the $61,500 resistance. More Losses In BTC? If Bitcoin fails to rise above the $58,800 resistance zone, it could continue to move down. Immediate support on the downside is near the $58,000 level. The first major support is $57,650. The next support is now near the $57,000 zone. Any more losses might send the price toward the $55,500 support zone or even $55,000 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 $58,000, followed by $57,650. Major Resistance Levels \u2013 $58,800, and $59,500.<\/p>\n","protected":false},"author":67,"featured_media":636351,"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-636349","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 Trims Gains: Is The Recovery Losing Steam?<\/title>\n<meta name=\"description\" content=\"Bitcoin price started a fresh decline from the $60,000 resistance zone. 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