Bitcoin Price Takes a Plunge: Analyzing the Sudden Drop
23 Junio 2024 - 10:21PM
NEWSBTC
Bitcoin price started another decline after it struggled near
$64,550. BTC declined below the $63,500 support and might continue
to move down. Bitcoin started a fresh decline from the $64,550
resistance level. The price is trading below $63,500 and the 100
hourly Simple moving average. There is a connecting bearish trend
line forming with resistance at $63,600 on the hourly chart of the
BTC/USD pair (data feed from Kraken). The pair could extend losses
if there is a clear move below the $62,700 and $62,500 support
levels. Bitcoin Price Dips Further Bitcoin price failed to recover
above the $65,000 level. BTC struggled near $64,550 and started
another decline. There was a steady decline below the $64,000 and
$63,500 levels. The price even declined below the $63,000 level. A
low was formed at $62,700 and the price is now consolidating
losses. There is also a connecting bearish trend line forming with
resistance at $63,600 on the hourly chart of the BTC/USD pair.
Bitcoin is now trading below $63,500 and the 100 hourly Simple
moving average. If there is a recovery wave, the price could face
resistance near the $63,550 level and the 23.6% Fib retracement
level of the downward move from the $66,444 swing high to the
$62,700 low. The first major resistance could be $64,000. The next
key resistance could be $64,500 or the 50% Fib retracement level of
the downward move from the $66,444 swing high to the $62,700 low. A
clear move above the $64,500 resistance might start a steady
increase and send the price higher. In the stated case, the price
could rise and test the $65,500 resistance. Any more gains might
send BTC toward the $66,200 resistance in the near term. More
Downsides In BTC? If Bitcoin fails to climb above the $63,550
resistance zone, it could continue to move down. Immediate support
on the downside is near the $62,700 level. The first major support
is $62,200. The next support is now forming near $62,000. Any more
losses might send the price toward the $61,200 support zone in the
near term. Technical indicators: Hourly MACD – The MACD is now
gaining pace in the bearish zone. Hourly RSI (Relative Strength
Index) – The RSI for BTC/USD is now below the 50 level. Major
Support Levels – $62,700, followed by $62,200. Major Resistance
Levels – $63,550, and $64,500.
Bitcoin (COIN:BTCUSD)
Gráfica de Acción Histórica
De Ago 2024 a Sep 2024
Bitcoin (COIN:BTCUSD)
Gráfica de Acción Histórica
De Sep 2023 a Sep 2024