{"id":610532,"date":"2024-05-30T01:02:14","date_gmt":"2024-05-30T01:02:14","guid":{"rendered":"https:\/\/wncen.com\/?p=610532"},"modified":"2024-06-11T08:04:58","modified_gmt":"2024-06-11T08:04:58","slug":"bitcoin-price-struggles-67k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-struggles-67k\/","title":{"rendered":"Bitcoin Price Struggles: Can the Leading Cryptocurrency Start Fresh Increase?"},"content":{"rendered":"
Bitcoin price extended its decline below the $68,000 level. BTC is now slowly moving lower toward the $66,250 support zone in the near term.<\/em><\/p>\n
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Bitcoin extended its downside correction below the $68,000 zone.<\/li>\n
The price is trading below $68,500 and the 100 hourly Simple moving average.<\/li>\n
There is a key bearish trend line forming with resistance at $67,900 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could continue to move down unless there is a close above the $68,500 level.<\/li>\n<\/ul>\n
Bitcoin Price Dips Further<\/h2>\n
Bitcoin price extended its downside correction below the $69,000 level. BTC bears were able to push the price below the $68,000 support. Finally, the price tested the $67,000 zone.<\/p>\n
A low has formed at $67,100 and the price is now consolidating losses. It recovered above the $67,5000 level and the 23.6% Fib retracement level of the downward wave from the $70,600 swing high to the $67,100 low, with a bearish angle.<\/p>\n
Bitcoin is now trading below $68,500 and the 100 hourly Simple moving average. On the upside, the price is facing resistance near the $68,000 level. There is also a key bearish trend line forming with resistance at $67,900 on the hourly chart of the BTC\/USD pair.<\/p>\n
The first major resistance could be $68,800 or the 50% Fib retracement level of the downward wave from the $70,600 swing high to the $67,100 low.<\/p>\n