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{"id":601923,"date":"2024-04-08T04:57:13","date_gmt":"2024-04-08T04:57:13","guid":{"rendered":"https:\/\/wncen.com\/?p=601923"},"modified":"2024-06-11T14:41:57","modified_gmt":"2024-06-11T14:41:57","slug":"bitcoin-price-correction-68800","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-correction-68800\/","title":{"rendered":"Bitcoin Price Hints At Potential Correction, Buy The Dip?"},"content":{"rendered":"

Bitcoin price is showing a few positive signs above the $68,500 resistance. BTC must settle above the $70,000 resistance to continue higher in the near term.<\/em><\/p>\n

\n
Bitcoin is eyeing a steady increase above $69,500 and $70,000 levels.<\/li>\n
The price is trading above $68,000 and the 100 hourly Simple moving average.<\/li>\n
There is a key bullish trend line forming with support near $68,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could start another increase if it stays above the $68,000 support zone.<\/li>\n<\/ul>\n
Bitcoin Price Holds Support<\/h2>\n
Bitcoin price started a decent increase<\/a> above the $67,500 resistance zone. BTC cleared the $68,500 and $68,800 resistance levels to move into a positive zone.<\/p>\n
The price even spiked above the $70,000 resistance zone. A high was formed near the $70,300 level and the price is now correcting gains. There was a move below the $70,000 level. There was a move below the 23.6% Fib retracement level of the upward move from the $65,116 swing low to the $70,300 high.<\/p>\n
Bitcoin is now trading above $68,000 and the 100 hourly Simple moving average<\/a>. Immediate resistance is near the $69,800 level. The first major resistance could be $70,000.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/p>\n
The next resistance now sits at $70,300. If there is a clear move above the $70,300 resistance zone, the price could start a fresh increase. In the stated case, the price could rise toward $71,200. The next major resistance is near the $72,000 zone. Any more gains might send Bitcoin toward the $73,500 resistance zone in the near term.<\/p>\n
Are Dips Limited In BTC?<\/h2>\n
If Bitcoin fails to rise above the $70,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $69,000 level or the trend line.<\/p>\n
The first major support is $67,800 or the 50% Fib retracement level of the upward move from the $65,116 swing low to the $70,300 high. The next support sits at $66,500. If there is a close below $66,500, the price could start a drop toward the $65,350 level. Any more losses might send the price toward the $62,500 support zone 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 near the 50 level.<\/p>\n
Major Support Levels \u2013 $68,800, followed by $67,800.<\/p>\n
Major Resistance Levels \u2013 $69,800, $70,000, and $71,200.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is showing a few positive signs above the $68,500 resistance. BTC must settle above the $70,000 resistance to continue higher in the near term. Bitcoin is eyeing a steady increase above $69,500 and $70,000 levels. The price is trading above $68,000 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support near $68,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start another increase if it stays above the $68,000 support zone. Bitcoin Price Holds Support Bitcoin price started a decent increase above the $67,500 resistance zone. BTC cleared the $68,500 and $68,800 resistance levels to move into a positive zone. The price even spiked above the $70,000 resistance zone. A high was formed near the $70,300 level and the price is now correcting gains. There was a move below the $70,000 level. There was a move below the 23.6% Fib retracement level of the upward move from the $65,116 swing low to the $70,300 high. Bitcoin is now trading above $68,000 and the 100 hourly Simple moving average. Immediate resistance is near the $69,800 level. The first major resistance could be $70,000. Source: BTCUSD on TradingView.com The next resistance now sits at $70,300. If there is a clear move above the $70,300 resistance zone, the price could start a fresh increase. In the stated case, the price could rise toward $71,200. The next major resistance is near the $72,000 zone. Any more gains might send Bitcoin toward the $73,500 resistance zone in the near term. Are Dips Limited In BTC? If Bitcoin fails to rise above the $70,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $69,000 level or the trend line. The first major support is $67,800 or the 50% Fib retracement level of the upward move from the $65,116 swing low to the $70,300 high. The next support sits at $66,500. If there is a close below $66,500, the price could start a drop toward the $65,350 level. Any more losses might send the price toward the $62,500 support zone 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 near the 50 level. Major Support Levels \u2013 $68,800, followed by $67,800. Major Resistance Levels \u2013 $69,800, $70,000, and $71,200.<\/p>\n","protected":false},"author":67,"featured_media":464826,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,1144,78790,76835],"class_list":["post-601923","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nBitcoin Price Hints At Potential Correction, Buy The Dip?<\/title>\n<meta name=\"description\" content=\"Bitcoin price is showing a few positive signs above the $68,500 resistance. 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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:\/\/wncen.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Hints At Potential Correction, Buy The Dip?","url":"http:\/\/wncen.com\/news\/bitcoin-price-correction-68800\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-correction-68800\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/06\/Depositphotos_78872860_s-2019.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/06\/Depositphotos_78872860_s-2019.jpg?fit=999%2C636"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","btcusd","btcusdt","xbtusd"],"dateCreated":"2024-04-08T04:57:13Z","datePublished":"2024-04-08T04:57:13Z","dateModified":"2024-06-11T14:41:57Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Hints At Potential Correction, Buy The Dip?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-correction-68800\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-correction-68800\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/06\\\/Depositphotos_78872860_s-2019.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/06\\\/Depositphotos_78872860_s-2019.jpg?fit=999%2C636\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2024-04-08T04:57:13Z\",\"datePublished\":\"2024-04-08T04:57:13Z\",\"dateModified\":\"2024-06-11T14:41:57Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/06\/Depositphotos_78872860_s-2019.jpg?fit=999%2C636","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/601923"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=601923"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/601923\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/464826"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=601923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=601923"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=601923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}