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{"id":639418,"date":"2024-09-03T02:33:01","date_gmt":"2024-09-03T02:33:01","guid":{"rendered":"https:\/\/ktsl888.com\/?p=639418"},"modified":"2024-09-03T02:33:01","modified_gmt":"2024-09-03T02:33:01","slug":"bitcoin-price-rebounds-59200","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-rebounds-59200\/","title":{"rendered":"Bitcoin Price Rebounds, But Key Hurdles Could Stall Progress"},"content":{"rendered":"

Bitcoin price started a recovery wave from the $57,200 zone. BTC is rising, but it might struggle to surpass the $60,200 and $61,150 resistance levels.<\/em><\/p>\n

\n
Bitcoin is attempting a recovery wave above the $58,000 support zone.<\/li>\n
The price is trading above $58,000 and the 100 hourly Simple moving average.<\/li>\n
There was a break above a connecting bearish trend line with resistance at $58,350 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could face heavy resistance at $60,200 or $61,150 in the near term.<\/li>\n<\/ul>\n
Bitcoin Price Starts Recovery<\/h2>\n
Bitcoin price extended losses<\/a> below the $58,500 support levels. BTC even spiked below $57,200. A low was formed at $57,124 and the price recently started a recovery wave.<\/p>\n
There was a move above the $58,000 and $58,200 resistance levels. It cleared the 50% Fib retracement level of the downward move from the $61,143 swing high to the $57,124 low. There was also a break above a connecting bearish trend line with resistance at $58,350 on the hourly chart of the BTC\/USD pair.<\/p>\n
Bitcoin is now trading above $58,000 and the 100 hourly Simple moving average<\/a>. On the upside, the price could face resistance near the $60,200 level or the 76.4% Fib retracement level of the downward move from the $61,143 swing high to the $57,124 low.<\/p>\n
$\"Bitcoin$ <\/a>
Source: BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
The first key resistance is near the $61,150 level. A clear move above the $61,150 resistance might send the price further higher in the coming sessions. The next key resistance could be $62,000. A close above the $62,000 resistance might spark more upsides. In the stated case, the price could rise and test the $65,000 resistance.<\/p>\n
Another Decline In BTC?<\/h2>\n
If Bitcoin fails to rise above the $60,200 resistance zone, it could start another decline. Immediate support on the downside is near the $58,750 level.<\/p>\n
The first major support is $58,500. The next support is now near the $57,200 zone. Any more losses might send the price toward the $56,200 support in the near term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now gaining 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 $58,750, followed by $58,500.<\/p>\n
Major Resistance Levels \u2013 $60,200, and $61,150.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price started a recovery wave from the $57,200 zone. BTC is rising, but it might struggle to surpass the $60,200 and $61,150 resistance levels. Bitcoin is attempting a recovery wave above the $58,000 support zone. The price is trading above $58,000 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend line with resistance at $58,350 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could face heavy resistance at $60,200 or $61,150 in the near term. Bitcoin Price Starts Recovery Bitcoin price extended losses below the $58,500 support levels. BTC even spiked below $57,200. A low was formed at $57,124 and the price recently started a recovery wave. There was a move above the $58,000 and $58,200 resistance levels. It cleared the 50% Fib retracement level of the downward move from the $61,143 swing high to the $57,124 low. There was also a break above a connecting bearish trend line with resistance at $58,350 on the hourly chart of the BTC\/USD pair. Bitcoin is now trading above $58,000 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $60,200 level or the 76.4% Fib retracement level of the downward move from the $61,143 swing high to the $57,124 low. The first key resistance is near the $61,150 level. A clear move above the $61,150 resistance might send the price further higher in the coming sessions. The next key resistance could be $62,000. A close above the $62,000 resistance might spark more upsides. In the stated case, the price could rise and test the $65,000 resistance. Another Decline In BTC? If Bitcoin fails to rise above the $60,200 resistance zone, it could start another decline. Immediate support on the downside is near the $58,750 level. The first major support is $58,500. The next support is now near the $57,200 zone. Any more losses might send the price toward the $56,200 support in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now gaining 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 $58,750, followed by $58,500. Major Resistance Levels \u2013 $60,200, and $61,150.<\/p>\n","protected":false},"author":67,"featured_media":639420,"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-639418","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 Rebounds, But Key Hurdles Could Stall Progress<\/title>\n<meta name=\"description\" content=\"Bitcoin price started a recovery wave from the $57,200 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. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/ktsl888.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Rebounds, But Key Hurdles Could Stall Progress","url":"http:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-rebounds-59200\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-rebounds-59200\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/Bitcoin-Rebounds.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/Bitcoin-Rebounds.jpg?fit=1792%2C1024"},"articleSection":"BTC","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","btcusd","btcusdt","xbtusd"],"dateCreated":"2024-09-03T02:33:01Z","datePublished":"2024-09-03T02:33:01Z","dateModified":"2024-09-03T02:33:01Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Rebounds, But Key Hurdles Could Stall Progress\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/analysis\\\/btc\\\/bitcoin-price-rebounds-59200\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/analysis\\\/btc\\\/bitcoin-price-rebounds-59200\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/Bitcoin-Rebounds.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/09\\\/Bitcoin-Rebounds.jpg?fit=1792%2C1024\"},\"articleSection\":\"BTC\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2024-09-03T02:33:01Z\",\"datePublished\":\"2024-09-03T02:33:01Z\",\"dateModified\":\"2024-09-03T02:33:01Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/09\/Bitcoin-Rebounds.jpg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/639418"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=639418"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/639418\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/639420"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=639418"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=639418"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=639418"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}