{"id":607868,"date":"2024-05-14T04:51:55","date_gmt":"2024-05-14T04:51:55","guid":{"rendered":"https:\/\/wncen.com\/?p=607868"},"modified":"2024-06-11T12:06:21","modified_gmt":"2024-06-11T12:06:21","slug":"bitcoin-price-stuck-60k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-stuck-60k\/","title":{"rendered":"Bitcoin Price Stuck In Key Range, What Could Spark Major Move?"},"content":{"rendered":"<p><em>Bitcoin price managed to stay above the $60,000 support. BTC recovered and is now facing hurdles near the $63,500 resistance zone.<\/em><\/p>\n<ul>\n<li>Bitcoin seems to be trading in a range between $60,000 and $63,500.<\/li>\n<li>The price is trading above $61,800 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break above a major bearish trend line with resistance at $61,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could rally if it clears $63,500 or might revisit the range support at $60,000.<\/li>\n<\/ul>\n<h2>Bitcoin Price Trims Gains<\/h2>\n<p>Bitcoin price extended its decline below the $60,800 support zone. However, the bulls were active above the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-bearish-60k\/\" target=\"_blank\" rel=\"noopener \">$60,000 support zone<\/a>. A low was formed at $60,220 and the price started a recovery wave.<\/p>\n<p>There was a move above the $61,000 and $61,200 levels. Besides, there was a break above a major bearish trend line with resistance at $61,400 on the hourly chart of the BTC\/USD pair. The pair rallied and revisited the main hurdle at $63,500.<\/p>\n<p>A high was formed at $63,400 and the price is now consolidating gains. It traded below the 23.6% Fib retracement level of the upward move from the $60,220 swing low to the $63,400 high.<\/p>\n<p>Bitcoin is still trading above $62,000 and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-recovery-63200\/\" target=\"_blank\" rel=\"noopener \">100 hourly Simple moving average<\/a>. Immediate resistance is near the $62,800 level. The first major resistance could be $63,000. The next key resistance could be $63,500. A clear move above the $63,200 resistance might send the price higher.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_96725f.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-607869\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_96725f.png?resize=1024%2C461\" alt=\"Bitcoin Price\" width=\"1024\" height=\"461\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_96725f.png?w=1835 1835w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_96725f.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_96725f.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_96725f.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_96725f.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_96725f.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_96725f.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 main resistance now sits at $63,500. If there is a close above the $63,500 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $65,000.<\/p>\n<h2>Another Decline In BTC?<\/h2>\n<p>If Bitcoin fails to climb above the $63,200 resistance zone, it could start another decline. Immediate support on the downside is near the $62,200 level.<\/p>\n<p>The first major support is $61,800 or the 50% Fib retracement level of the upward move from the $60,220 swing low to the $63,400 high. If there is a close below $61,800, the price could start to drop toward $61,200. Any more losses might send the price toward the $60,250 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 near the 50 level.<\/p>\n<p>Major Support Levels \u2013 $61,800, followed by $61,200.<\/p>\n<p>Major Resistance Levels \u2013 $63,200, $63,500, and $65,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price managed to stay above the $60,000 support. BTC recovered and is now facing hurdles near the $63,500 resistance zone. Bitcoin seems to be trading in a range between $60,000 and $63,500. The price is trading above $61,800 and the 100 hourly Simple moving average. There was a break above a major bearish trend line with resistance at $61,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could rally if it clears $63,500 or might revisit the range support at $60,000. Bitcoin Price Trims Gains Bitcoin price extended its decline below the $60,800 support zone. However, the bulls were active above the $60,000 support zone. A low was formed at $60,220 and the price started a recovery wave. There was a move above the $61,000 and $61,200 levels. Besides, there was a break above a major bearish trend line with resistance at $61,400 on the hourly chart of the BTC\/USD pair. The pair rallied and revisited the main hurdle at $63,500. A high was formed at $63,400 and the price is now consolidating gains. It traded below the 23.6% Fib retracement level of the upward move from the $60,220 swing low to the $63,400 high. Bitcoin is still trading above $62,000 and the 100 hourly Simple moving average. Immediate resistance is near the $62,800 level. The first major resistance could be $63,000. The next key resistance could be $63,500. A clear move above the $63,200 resistance might send the price higher. Source: BTCUSD on TradingView.com The main resistance now sits at $63,500. If there is a close above the $63,500 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $65,000. Another Decline In BTC? If Bitcoin fails to climb above the $63,200 resistance zone, it could start another decline. Immediate support on the downside is near the $62,200 level. The first major support is $61,800 or the 50% Fib retracement level of the upward move from the $60,220 swing low to the $63,400 high. If there is a close below $61,800, the price could start to drop toward $61,200. Any more losses might send the price toward the $60,250 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 $61,800, followed by $61,200. Major Resistance Levels \u2013 $63,200, $63,500, and $65,000.<\/p>\n","protected":false},"author":67,"featured_media":460236,"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-607868","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 Stuck In Key Range, What Could Spark Major Move?<\/title>\n<meta name=\"description\" content=\"Bitcoin price managed to stay above the $60,000 support. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. 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 Stuck In Key Range, What Could Spark Major Move?","url":"http:\/\/wncen.com\/news\/bitcoin-price-stuck-60k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-stuck-60k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/shutterstock_456228007.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/shutterstock_456228007.jpg?fit=1000%2C665"},"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":"2024-05-14T04:51:55Z","datePublished":"2024-05-14T04:51:55Z","dateModified":"2024-06-11T12:06:21Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Stuck In Key Range, What Could Spark Major Move?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-stuck-60k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-stuck-60k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_456228007.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_456228007.jpg?fit=1000%2C665\"},\"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\":\"2024-05-14T04:51:55Z\",\"datePublished\":\"2024-05-14T04:51:55Z\",\"dateModified\":\"2024-06-11T12:06:21Z\"}<\/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\/04\/shutterstock_456228007.jpg?fit=1000%2C665","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/607868"}],"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=607868"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/607868\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/460236"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=607868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=607868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=607868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}