Bitcoin Price Remains at Risk Despite Recent Moves, Indicators Turn Bearish
19 Junho 2024 - 12:23AM
NEWSBTC
Bitcoin price extended its losses and traded below the $64,500
level. BTC is correcting losses, but the bears are still in control
and aim for more losses. Bitcoin remained in a bearish zone and
traded below $64,500. The price is trading below $65,500 and the
100 hourly Simple moving average. There is a connecting trend line
forming with resistance at $65,400 on the hourly chart of the
BTC/USD pair (data feed from Kraken). The pair remains at risk of
more downsides below the $64,000 support zone. Bitcoin Price Dips
Further Bitcoin price remained in a bearish zone after it settled
below the $66,500 resistance zone. BTC extended losses and traded
below the $65,000 level. There was also a dip below $64,500. A low
was formed at $64,050 and the price is now correcting losses. There
was a minor recovery above the $64,500 level. The price climbed
above the 23.6% Fib retracement level of the downward wave from the
$67,255 swing high to the $64,050 low. Bitcoin is now trading below
$65,500 and the 100 hourly Simple moving average. There is also a
connecting trend line forming with resistance at $65,400 on the
hourly chart of the BTC/USD pair. On the upside, the price is
facing resistance near the $65,500 level and the trend line. The
first major resistance could be $65,650 or the 50% Fib retracement
level of the downward wave from the $67,255 swing high to the
$64,050 low. The next key resistance could be $66,000. A clear move
above the $66,000 resistance might start a decent increase and send
the price higher. In the stated case, the price could rise and test
the $66,500 resistance. Any more gains might send BTC toward the
$67,500 resistance in the near term. More Losses In BTC? If Bitcoin
fails to climb above the $65,400 resistance zone, it could start
another decline. Immediate support on the downside is near the
$64,800 level. The first major support is $64,200. The next support
is now forming near $64,000. Any more losses might send the price
toward the $63,200 support zone in the near term. Technical
indicators: Hourly MACD – The MACD is now losing pace in the
bearish zone. Hourly RSI (Relative Strength Index) – The RSI for
BTC/USD is now near the 50 level. Major Support Levels – $64,500,
followed by $64,000. Major Resistance Levels – $65,400, and
$66,000.
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