BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\nThe next major hurdle sits at $63,500. A close above the $63,500 resistance might spark more upsides. In the stated case, the price could rise and test the $65,000 resistance.<\/p>\n
Another Drop In BTC?<\/h2>\n If Bitcoin fails to rise above the $61,500 resistance zone, it could start another decline. Immediate support on the downside is near the $60,000 level and the 100 hourly Simple moving average.<\/p>\n
The first major support is $59,650. The next support is now near the $59,150 zone. Any more losses might send the price toward the $58,500 support zone or even $57,200 in the near term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n
Major Support Levels \u2013 $60,000, followed by $59,650.<\/p>\n
Major Resistance Levels \u2013 $61,200, and $61,500.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price recovered above the $60,000 resistance zone. BTC is now struggling to clear the $61,200 and $61,500 resistance levels. Bitcoin started a recovery wave above the $60,000 resistance zone. The price is trading above $60,000 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend line with resistance at $59,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair might attempt a fresh increase if it settles above the $61,500 resistance zone. Bitcoin Price Builds Momentum Bitcoin price started a decent upward move above the $58,500 resistance zone. BTC was able to clear the $59,500 and $60,000 resistance levels. There was a break above a connecting bearish trend line with resistance at $59,500 on the hourly chart of the BTC\/USD pair. It even spiked above the $61,500 level. A high was formed at $61,555 and the price is now correcting gains. There was a move below the $61,200 and $61,000 levels. The price dipped below the 23.6% Fib retracement level of the upward move from the $58,441 swing low to the $61,555 high. Bitcoin price is now trading above $60,000 and the 100 hourly Simple moving average. It is also well above the 50% Fib retracement level of the upward move from the $58,441 swing low to the $61,555 high. On the upside, the price could face resistance near the $61,200 level. The first key resistance is near the $61,500 level. A clear move above the $61,500 resistance might send the price further higher in the coming sessions. The next key resistance could be $62,500. The next major hurdle sits at $63,500. A close above the $63,500 resistance might spark more upsides. In the stated case, the price could rise and test the $65,000 resistance. Another Drop In BTC? If Bitcoin fails to rise above the $61,500 resistance zone, it could start another decline. Immediate support on the downside is near the $60,000 level and the 100 hourly Simple moving average. The first major support is $59,650. The next support is now near the $59,150 zone. Any more losses might send the price toward the $58,500 support zone or even $57,200 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 $60,000, followed by $59,650. Major Resistance Levels \u2013 $61,200, and $61,500.<\/p>\n","protected":false},"author":67,"featured_media":635326,"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-635324","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
Bitcoin Price Crosses $60K, But Struggles to Maintain Pace<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n