{"id":626389,"date":"2024-06-26T02:41:21","date_gmt":"2024-06-26T02:41:21","guid":{"rendered":"https:\/\/wncen.com\/?p=626389"},"modified":"2024-06-26T02:41:21","modified_gmt":"2024-06-26T02:41:21","slug":"bitcoin-price-rejection-62500","status":"publish","type":"post","link":"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-rejection-62500\/","title":{"rendered":"Bitcoin Price Reaches Rejection Zone: Can It Overcome the Resistance?"},"content":{"rendered":"<p><em>Bitcoin price recovered above the $62,000 resistance zone. BTC must clear the $62,500 resistance zone to continue higher in the near term.<\/em><\/p>\n<ul>\n<li>Bitcoin started a recovery wave above the $61,500 and $62,000 levels.<\/li>\n<li>The price is trading below $63,000 and the 100 hourly Simple moving average.<\/li>\n<li>There is a key bearish trend line forming with resistance at $62,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair might struggle to rise above the $62,500 and $63,000 resistance levels.<\/li>\n<\/ul>\n<h2>Bitcoin Price Faces Resistance<\/h2>\n<p>Bitcoin price extended losses below the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-plunge-62700\/\" target=\"_blank\" rel=\"noopener \">$60,000 support zone<\/a>. BTC even tested the $58,500 support zone, where the bulls emerged. A low was formed at $58,448 and the price is now correcting losses. There was a decent increase above the $60,000 level.<\/p>\n<p>The price climbed above the 50% Fib retracement level of the downward wave from the $64,460 swing high to the $58,448 low. It even moved above the $62,000 pivot level. However, Bitcoin price is still trading below $63,000 and the 100 hourly Simple moving average.<\/p>\n<p>The price seems to be facing a rejection zone near the $62,500 resistance, as discussed <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-dives-breaks-60k\/\" target=\"_blank\" rel=\"noopener \">yesterday<\/a>. There is also a key bearish trend line forming with resistance at $62,500 on the hourly chart of the BTC\/USD pair. It is close to the 61.8% Fib retracement level of the downward wave from the $64,460 swing high to the $58,448 low.<\/p>\n<figure id=\"attachment_626390\" aria-describedby=\"caption-attachment-626390\" style=\"width: 1024px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Bitcoin_289a46.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-626390 size-full\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Bitcoin_289a46.png?resize=1024%2C461\" alt=\"Bitcoin Price\" width=\"1024\" height=\"461\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Bitcoin_289a46.png?w=1835 1835w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Bitcoin_289a46.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Bitcoin_289a46.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Bitcoin_289a46.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Bitcoin_289a46.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Bitcoin_289a46.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Bitcoin_289a46.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-626390\" 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>The next key resistance could be $63,000. A clear move above the $63,000 resistance might start a steady increase and send the price higher. In the stated case, the price could rise and test the $63,500 resistance. Any more gains might send BTC toward the $65,000 resistance in the near term.<\/p>\n<h2>Another Decline In BTC?<\/h2>\n<p>If Bitcoin fails to climb above the $62,500 resistance zone, it could start another decline. Immediate support on the downside is near the $60,500 level.<\/p>\n<p>The first major support is $60,000. The next support is now forming near $59,500. Any more losses might send the price toward the $58,500 support zone in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining 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 $60,500, followed by $60,000.<\/p>\n<p>Major Resistance Levels \u2013 $62,500, and $63,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price recovered above the $62,000 resistance zone. BTC must clear the $62,500 resistance zone to continue higher in the near term. Bitcoin started a recovery wave above the $61,500 and $62,000 levels. The price is trading below $63,000 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance at $62,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair might struggle to rise above the $62,500 and $63,000 resistance levels. Bitcoin Price Faces Resistance Bitcoin price extended losses below the $60,000 support zone. BTC even tested the $58,500 support zone, where the bulls emerged. A low was formed at $58,448 and the price is now correcting losses. There was a decent increase above the $60,000 level. The price climbed above the 50% Fib retracement level of the downward wave from the $64,460 swing high to the $58,448 low. It even moved above the $62,000 pivot level. However, Bitcoin price is still trading below $63,000 and the 100 hourly Simple moving average. The price seems to be facing a rejection zone near the $62,500 resistance, as discussed yesterday. There is also a key bearish trend line forming with resistance at $62,500 on the hourly chart of the BTC\/USD pair. It is close to the 61.8% Fib retracement level of the downward wave from the $64,460 swing high to the $58,448 low. The next key resistance could be $63,000. A clear move above the $63,000 resistance might start a steady increase and send the price higher. In the stated case, the price could rise and test the $63,500 resistance. Any more gains might send BTC toward the $65,000 resistance in the near term. Another Decline In BTC? If Bitcoin fails to climb above the $62,500 resistance zone, it could start another decline. Immediate support on the downside is near the $60,500 level. The first major support is $60,000. The next support is now forming near $59,500. Any more losses might send the price toward the $58,500 support zone in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now gaining 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 $60,500, followed by $60,000. Major Resistance Levels \u2013 $62,500, and $63,000.<\/p>\n","protected":false},"author":67,"featured_media":626391,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83361],"tags":[428,679,1144,78790,76835],"class_list":["post-626389","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-btc","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Reaches Rejection Zone: Can It Overcome the Resistance?<\/title>\n<meta name=\"description\" content=\"Bitcoin price recovered above the $62,000 resistance zone. 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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 Reaches Rejection Zone: Can It Overcome the Resistance?","url":"http:\/\/wncen.com\/analysis\/btc\/bitcoin-price-rejection-62500\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/analysis\/btc\/bitcoin-price-rejection-62500\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Bitcoin-Rejection-Zone.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Bitcoin-Rejection-Zone.jpeg?fit=1792%2C1024"},"articleSection":"BTC","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":"2024-06-26T02:41:21Z","datePublished":"2024-06-26T02:41:21Z","dateModified":"2024-06-26T02:41:21Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Reaches Rejection Zone: Can It Overcome the Resistance?\",\"url\":\"http:\\\/\\\/wncen.com\\\/analysis\\\/btc\\\/bitcoin-price-rejection-62500\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/analysis\\\/btc\\\/bitcoin-price-rejection-62500\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/Bitcoin-Rejection-Zone.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/Bitcoin-Rejection-Zone.jpeg?fit=1792%2C1024\"},\"articleSection\":\"BTC\",\"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\":\"2024-06-26T02:41:21Z\",\"datePublished\":\"2024-06-26T02:41:21Z\",\"dateModified\":\"2024-06-26T02:41:21Z\"}<\/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\/2024\/06\/Bitcoin-Rejection-Zone.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/626389"}],"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=626389"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/626389\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/626391"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=626389"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=626389"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=626389"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}