{"id":608848,"date":"2024-05-20T01:19:47","date_gmt":"2024-05-20T01:19:47","guid":{"rendered":"https:\/\/wncen.com\/?p=608848"},"modified":"2024-06-11T09:54:56","modified_gmt":"2024-06-11T09:54:56","slug":"bitcoin-price-dips-66k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-dips-66k\/","title":{"rendered":"Bitcoin Price Dips Yet Stays Positive: Market Sentiment Remains Upbeat"},"content":{"rendered":"<p><em>Bitcoin price extended its increase above the $67,500 resistance. BTC tested the $68,000 resistance and is currently correcting gains.<\/em><\/p>\n<ul>\n<li>Bitcoin started a downside correction after it climbed toward the $68,000 resistance zone.<\/li>\n<li>The price is trading below $67,000 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break below a connecting bullish trend line with support at $65,900 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could start another increase unless the bears push it below $65,900.<\/li>\n<\/ul>\n<h2>Bitcoin Price Starts Downside Correction<\/h2>\n<p>Bitcoin price remained stable above the $66,500 level. BTC <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-consolidates-65k-3\/\" target=\"_blank\" rel=\"noopener \">extended its increase<\/a> above the $67,200 and $67,500 resistance levels. It traded to a new weekly high at $67,984 and recently started a downside correction.<\/p>\n<p>There was a move below the $67,000 support zone. Besides, there was a break below a connecting bullish trend line with support at $65,900 on the hourly chart of the BTC\/USD pair. The pair even dipped below the $66,500 support zone.<\/p>\n<p>Bitcoin price is now trading below $67,000 and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-breaks-free-63500\/\" target=\"_blank\" rel=\"noopener \">100 hourly Simple moving average<\/a>. A low was formed at $65,922 and the price is now attempting a fresh increase.<\/p>\n<p>There was a move above the $66,200 level. The price climbed above the 23.6% Fib retracement level of the downside correction from the $67,984 swing high to the $65,922 low. The price is now facing resistance near the $66,500 level and the 100 hourly Simple moving average.<\/p>\n<p>The first major resistance could be $66,950. It is near the 50% Fib retracement level of the downside correction from the $67,984 swing high to the $65,922 low. The next key resistance could be $67,500. A clear move above the $67,500 resistance might send the price higher. In the stated case, the price could rise and test the $68,000 resistance.<\/p>\n<figure id=\"attachment_608849\" aria-describedby=\"caption-attachment-608849\" style=\"width: 1024px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_32957d.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-608849 size-full\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_32957d.png?resize=1024%2C449\" alt=\"Bitcoin Price\" width=\"1024\" height=\"449\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_32957d.png?w=1950 1950w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_32957d.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_32957d.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_32957d.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_32957d.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_32957d.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_32957d.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-608849\" 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>If the bulls remain in action, the price could rise toward the $68,800 resistance zone. Any more gains might send BTC toward the $70,000 barrier.<\/p>\n<h2>Another Decline In BTC?<\/h2>\n<p>If Bitcoin fails to climb above the $66,500 resistance zone, it could continue to move down. Immediate support on the downside is near the $66,000 level and the trend line.<\/p>\n<p>The first major support is $65,500. The main support is now forming near $64,500. Any more losses might send the price toward the $63,150 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 below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $65,900, followed by $65,500.<\/p>\n<p>Major Resistance Levels \u2013 $66,500, $67,000, and $67,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price extended its increase above the $67,500 resistance. BTC tested the $68,000 resistance and is currently correcting gains. Bitcoin started a downside correction after it climbed toward the $68,000 resistance zone. The price is trading below $67,000 and the 100 hourly Simple moving average. There was a break below a connecting bullish trend line with support at $65,900 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start another increase unless the bears push it below $65,900. Bitcoin Price Starts Downside Correction Bitcoin price remained stable above the $66,500 level. BTC extended its increase above the $67,200 and $67,500 resistance levels. It traded to a new weekly high at $67,984 and recently started a downside correction. There was a move below the $67,000 support zone. Besides, there was a break below a connecting bullish trend line with support at $65,900 on the hourly chart of the BTC\/USD pair. The pair even dipped below the $66,500 support zone. Bitcoin price is now trading below $67,000 and the 100 hourly Simple moving average. A low was formed at $65,922 and the price is now attempting a fresh increase. There was a move above the $66,200 level. The price climbed above the 23.6% Fib retracement level of the downside correction from the $67,984 swing high to the $65,922 low. The price is now facing resistance near the $66,500 level and the 100 hourly Simple moving average. The first major resistance could be $66,950. It is near the 50% Fib retracement level of the downside correction from the $67,984 swing high to the $65,922 low. The next key resistance could be $67,500. A clear move above the $67,500 resistance might send the price higher. In the stated case, the price could rise and test the $68,000 resistance. If the bulls remain in action, the price could rise toward the $68,800 resistance zone. Any more gains might send BTC toward the $70,000 barrier. Another Decline In BTC? If Bitcoin fails to climb above the $66,500 resistance zone, it could continue to move down. Immediate support on the downside is near the $66,000 level and the trend line. The first major support is $65,500. The main support is now forming near $64,500. Any more losses might send the price toward the $63,150 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 below the 50 level. Major Support Levels \u2013 $65,900, followed by $65,500. Major Resistance Levels \u2013 $66,500, $67,000, and $67,500.<\/p>\n","protected":false},"author":67,"featured_media":608851,"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":[],"class_list":["post-608848","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Dips Yet Stays Positive: Market Sentiment Remains Upbeat<\/title>\n<meta name=\"description\" content=\"Bitcoin price extended its increase above the $67,500 resistance. 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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 Dips Yet Stays Positive: Market Sentiment Remains Upbeat","url":"http:\/\/wncen.com\/news\/bitcoin-price-dips-66k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-dips-66k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin-price-positive.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin-price-positive.jpg?fit=1792%2C1024"},"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":[],"dateCreated":"2024-05-20T01:19:47Z","datePublished":"2024-05-20T01:19:47Z","dateModified":"2024-06-11T09:54:56Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Dips Yet Stays Positive: Market Sentiment Remains Upbeat\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-dips-66k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-dips-66k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/Bitcoin-price-positive.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/Bitcoin-price-positive.jpg?fit=1792%2C1024\"},\"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\":[],\"dateCreated\":\"2024-05-20T01:19:47Z\",\"datePublished\":\"2024-05-20T01:19:47Z\",\"dateModified\":\"2024-06-11T09:54:56Z\"}<\/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\/2024\/05\/Bitcoin-price-positive.jpg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/608848"}],"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=608848"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/608848\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/608851"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=608848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=608848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=608848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}