{"id":603623,"date":"2024-04-17T02:58:04","date_gmt":"2024-04-17T02:58:04","guid":{"rendered":"https:\/\/wncen.com\/?p=603623"},"modified":"2024-06-11T08:58:39","modified_gmt":"2024-06-11T08:58:39","slug":"bitcoin-price-consolidates-65k-2","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-consolidates-65k-2\/","title":{"rendered":"Bitcoin Price Consolidates Below Hurdles, Can BTC Bounce Back?"},"content":{"rendered":"<p><em>Bitcoin price is consolidating below the $65,000 resistance zone. BTC must surpass $65,000 and $67,000 to move into a bullish zone again.<\/em><\/p>\n<ul>\n<li>Bitcoin is struggling to gain pace for a move above the $65,000 resistance zone.<\/li>\n<li>The price is trading below $65,000 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break above a connecting bearish trend line with resistance at $63,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could gain bullish momentum if it clears the $67,000 resistance zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Eyes Upside Break<\/h2>\n<p>Bitcoin price failed to clear the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-restarts-decline-60k\/\" target=\"_blank\" rel=\"noopener \">$67,000 resistance zone<\/a>. BTC started another decline and traded below the $65,000 support zone. It even declined below $62,000 before the bulls emerged.<\/p>\n<p>A low was formed near $61,551 and the price is now attempting a fresh recovery wave. There was a break above a connecting bearish trend line with resistance at $63,000 on the hourly chart of the BTC\/USD pair. The pair climbed above the 23.6% Fib retracement level of the recent decline from the $66,898 swing high to the $61,551 low.<\/p>\n<p>Bitcoin price is trading below $65,000 and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-downside-thrust-60500\/\" target=\"_blank\" rel=\"noopener \">100 hourly Simple moving average<\/a>. Immediate resistance is near the $64,250 level. It is close to the 50% Fib retracement level of the recent decline from the $66,898 swing high to the $61,551 low.<\/p>\n<p>The first major resistance could be $64,850. The next resistance now sits at $65,000. If there is a clear move above the $65,000 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $66,500.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/Bitcoin_0bc6e3.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-603624\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/Bitcoin_0bc6e3.png?resize=1024%2C461\" alt=\"Bitcoin Price\" width=\"1024\" height=\"461\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/Bitcoin_0bc6e3.png?w=1835 1835w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/Bitcoin_0bc6e3.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/Bitcoin_0bc6e3.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/Bitcoin_0bc6e3.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/Bitcoin_0bc6e3.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/Bitcoin_0bc6e3.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/Bitcoin_0bc6e3.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/p>\n<p>The next major resistance is near the $67,200 zone. Any more gains might send Bitcoin toward the $70,000 resistance zone in the near term.<\/p>\n<h2>Another Decline In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $65,000 resistance zone, it could start another decline. Immediate support on the downside is near the $62,800 level.<\/p>\n<p>The first major support is $62,000. If there is a close below $62,000, the price could start to drop toward the $61,500 level. Any more losses might send the price toward the $60,500 support zone in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $63,000, followed by $62,000.<\/p>\n<p>Major Resistance Levels \u2013 $64,850, $65,000, and $67,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is consolidating below the $65,000 resistance zone. BTC must surpass $65,000 and $67,000 to move into a bullish zone again. Bitcoin is struggling to gain pace for a move above the $65,000 resistance zone. The price is trading below $65,000 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend line with resistance at $63,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could gain bullish momentum if it clears the $67,000 resistance zone. Bitcoin Price Eyes Upside Break Bitcoin price failed to clear the $67,000 resistance zone. BTC started another decline and traded below the $65,000 support zone. It even declined below $62,000 before the bulls emerged. A low was formed near $61,551 and the price is now attempting a fresh recovery wave. There was a break above a connecting bearish trend line with resistance at $63,000 on the hourly chart of the BTC\/USD pair. The pair climbed above the 23.6% Fib retracement level of the recent decline from the $66,898 swing high to the $61,551 low. Bitcoin price is trading below $65,000 and the 100 hourly Simple moving average. Immediate resistance is near the $64,250 level. It is close to the 50% Fib retracement level of the recent decline from the $66,898 swing high to the $61,551 low. The first major resistance could be $64,850. The next resistance now sits at $65,000. If there is a clear move above the $65,000 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $66,500. Source: BTCUSD on TradingView.com The next major resistance is near the $67,200 zone. Any more gains might send Bitcoin toward the $70,000 resistance zone in the near term. Another Decline In BTC? If Bitcoin fails to rise above the $65,000 resistance zone, it could start another decline. Immediate support on the downside is near the $62,800 level. The first major support is $62,000. If there is a close below $62,000, the price could start to drop toward the $61,500 level. Any more losses might send the price toward the $60,500 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 above the 50 level. Major Support Levels \u2013 $63,000, followed by $62,000. Major Resistance Levels \u2013 $64,850, $65,000, and $67,000.<\/p>\n","protected":false},"author":67,"featured_media":464592,"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-603623","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":"\n<title>Bitcoin Price Consolidates Below Hurdles, Can BTC Bounce Back?<\/title>\n<meta name=\"description\" content=\"Bitcoin price is consolidating below the $65,000 resistance zone. 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