Bitcoin Dips Again: Temporary Setback or Buying Opportunity?
06 Junio 2024 - 9:58PM
NEWSBTC
Bitcoin price started a downside correction from the $71,650
resistance zone. BTC is now consolidating and might correct toward
the $69,500 support. Bitcoin struggled above $71,500 and started a
downside correction. The price is trading above $70,000 and the 100
hourly Simple moving average. There was a break below a key bullish
trend line with support at $70,650 on the hourly chart of the
BTC/USD pair (data feed from Kraken). The pair could decline
further if there is a move below the $70,000 level. Bitcoin Price
Starts Correction Bitcoin price extended its increase above the
$70,000 level. BTC was able to clear the $70,500 and $71,200 levels
to move further into a positive zone. However, the bears were
active near the $71,650 zone. A high was formed at $71,682 and the
price started a downside correction. The price declined below the
23.6% Fib retracement level of the upward wave from the $67,285
swing low to the $71,682 high. There was also a break below a key
bullish trend line with support at $70,650 on the hourly chart of
the BTC/USD pair. The price tested the $70,200 support zone.
Bitcoin is now trading above $70,000 and the 100 hourly Simple
moving average. On the upside, the price is facing resistance near
the $70,800 level. The first major resistance could be $71,200. The
next key resistance could be $71,650. A clear move above the
$71,650 resistance might send the price higher. In the stated case,
the price could rise and test the $72,000 resistance. Any more
gains might send BTC toward the $73,200 resistance. More Downsides
In BTC? If Bitcoin fails to climb above the $71,200 resistance
zone, it could continue to move down. Immediate support on the
downside is near the $70,200 level. The first major support is
$70,000. The next support is now forming near $69,500 or the 50%
Fib retracement level of the upward wave from the $67,285 swing low
to the $71,682 high. Any more losses might send the price toward
the $68,500 support zone in the near term. Technical indicators:
Hourly MACD – The MACD is now losing pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now
below the 50 level. Major Support Levels – $70,200, followed by
$70,000. Major Resistance Levels – $71,200, and $71,650.
Bitcoin (COIN:BTCUSD)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Bitcoin (COIN:BTCUSD)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024