Tuesday, June 3, 2025
No Result
View All Result
Coins League
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis
Marketcap
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis
No Result
View All Result
Coins League
No Result
View All Result

Bitcoin Price Still At Risk of Major Downside Break Below $60K

April 20, 2024
in Analysis
Reading Time: 3 mins read
0 0
A A
0
Home Analysis
Share on FacebookShare on TwitterShare on E Mail


Bitcoin value is exhibiting bearish indicators beneath the $63,000 resistance zone. BTC should keep above the $60,000 help zone to keep away from a serious decline.

Bitcoin remains to be struggling to start out a restoration wave above the $63,000 resistance zone.
The value is buying and selling beneath $62,800 and the 100 hourly Easy shifting common.
There was a break beneath a connecting bullish pattern line with help at $62,400 on the hourly chart of the BTC/USD pair (information feed from Kraken).
The pair may achieve bearish momentum if it settles beneath the $60,000 help zone.

Bitcoin Worth Wrestle Continues

Bitcoin value began one other improve above the $61,500 resistance zone. BTC cleared the $62,500 and $63,000 resistance ranges. It even spiked above $64,000 however did not surpass the important thing degree at $65,000.

A excessive was fashioned at $64,142 earlier than there was a pointy decline. There was a break beneath a connecting bullish pattern line with help at $62,400 on the hourly chart of the BTC/USD pair. It dived beneath the $60,800 degree and retested $59,650.

A low was fashioned close to $59,666 and the value is now trying a recent restoration wave. The value climbed above the 23.6% Fib retracement degree of the current decline from the $64,142 swing excessive to the $59,666 low.

Bitcoin value is buying and selling beneath $62,800 and the 100 hourly Easy shifting common. Rapid resistance is close to the $62,000 degree. It’s near the 50% Fib retracement degree of the current decline from the $64,142 swing excessive to the $59,666 low.

The primary main resistance could possibly be $63,000. The subsequent resistance now sits at $64,200. If there’s a clear transfer above the $64,200 resistance zone, the value may proceed to maneuver up. Within the acknowledged case, the value may rise towards $65,000.

Supply: BTCUSD on TradingView.com

The subsequent main resistance is close to the $66,500 zone. Any extra positive factors may ship Bitcoin towards the $67,500 resistance zone within the close to time period.

Extra Losses In BTC?

If Bitcoin fails to rise above the $62,000 resistance zone, it may begin one other decline. Rapid help on the draw back is close to the $60,800 degree.

The primary main help is $60,000. If there’s a shut beneath $60,000, the value may begin to drop towards the $59,550 degree. Any extra losses may ship the value towards the $58,500 help zone within the close to time period.

Technical indicators:

Hourly MACD – The MACD is now gaining tempo within the bearish zone.

Hourly RSI (Relative Energy Index) – The RSI for BTC/USD is now beneath the 50 degree.

Main Help Ranges – $60,800, adopted by $60,000.

Main Resistance Ranges – $62,000, $63,000, and $64,200.

Disclaimer: The article is supplied for academic functions solely. It doesn’t symbolize the opinions of NewsBTC on whether or not to purchase, promote or maintain any investments and naturally investing carries dangers. You’re suggested to conduct your personal analysis earlier than making any funding selections. Use info supplied on this web site fully at your personal threat.



Source link

Tags: 60KBitcoinBreakDownsideMajorPriceRisk
Previous Post

Bitcoin Price Dives Below $60,000 Less Than 24 Hours Before Halving

Next Post

Ethereum Price Faces Crucial Test: Will $2,850 Withstand the Pressure?

Related Posts

Will $670 Crack Under Pressure?
Analysis

Will $670 Crack Under Pressure?

June 3, 2025
what’s fueling the June crypto rally?
Analysis

what’s fueling the June crypto rally?

June 3, 2025
HYPE outperforms major cryptos, Bitcoin Pepe prepares for listing
Analysis

HYPE outperforms major cryptos, Bitcoin Pepe prepares for listing

June 3, 2025
Solana (SOL) Continues to Fall — Is a Reversal in Sight?
Analysis

Solana (SOL) Continues to Fall — Is a Reversal in Sight?

June 2, 2025
Ethereum Price Stabilizes After Drop — Can Bulls Regain Control?
Analysis

Ethereum Price Stabilizes After Drop — Can Bulls Regain Control?

June 2, 2025
XRP Set For Price Relief, But Only If Bulls Defend Key $2.13 Price Level
Analysis

XRP Set For Price Relief, But Only If Bulls Defend Key $2.13 Price Level

June 1, 2025
Next Post
Ethereum Price Faces Crucial Test: Will $2,850 Withstand the Pressure?

Ethereum Price Faces Crucial Test: Will $2,850 Withstand the Pressure?

BNB Price May Have Another Chance For A Bullish Streak: Here’s How

BNB Price May Have Another Chance For A Bullish Streak: Here's How

Russian Duma Financial Market Chairman States Digital Financial Assets Might Replace Fiat for International Payments

Russian Duma Financial Market Chairman States Digital Financial Assets Might Replace Fiat for International Payments

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Twitter Instagram LinkedIn RSS Telegram
Coins League

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at Coins League

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

SITEMAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2023 Coins League.
Coins League is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Bitcoin
  • Crypto Updates
    • Crypto Updates
    • Altcoin
    • Ethereum
    • Crypto Exchanges
  • Blockchain
  • NFT
  • DeFi
  • Metaverse
  • Web3
  • Scam Alert
  • Regulations
  • Analysis

Copyright © 2023 Coins League.
Coins League is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In