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BTCUSD Bitcoin

66,922.74

-1,439.50 (-2.11%)

17:35:46 - Realtime Data

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,313,926,195,609	SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-1,439.50	-2.11%	66,922.74	66,922.74	66,922.75

High Price	Low Price	Open Price	Prev. Close	52 Week Range
69,024.71	66,584.47	68,293.39	68,362.24	24,750.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	17:35:45	0.001953	66,920.47	USD

Price x Volume	Volume	Base Symbol	Related Pairs
668,338,073.84	9,856.73	BTC	BTCEUR	BTCGBP	ETHBTC

Bitcoin Bears Keeps Pushing, Why BTC Could Turn Bearish Below $60K?

09/05/2024 3:48am

NEWSBTC

Bitcoin price extended losses and traded below the $62,500 zone. BTC is showing bearish signs and might turn bearish if it settles below $60,000. Bitcoin followed a bearish path and traded below $62,500. The price is trading below $63,000 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $62,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend losses and revisit the $60,000 support zone in the near term. Bitcoin Price Extends Decline Bitcoin price struggled to stay above the $63,500 zone and extended losses. There was a move below the $63,000 and $62,500 levels. The bears even pushed it below $61,200. A low was formed at $60,888 and the price is now consolidating losses. If there is a recovery wave, the price might struggle to clear the $62,000 resistance or the 23.6% Fib retracement level of the recent decline from the $65,500 swing high to the $60,888 low. There is also a connecting bearish trend line forming with resistance at $62,000 on the hourly chart of the BTC/USD pair. Bitcoin is now trading below $63,000 and the 100 hourly Simple moving average. Immediate resistance is near the $61,800 level. The first major resistance could be $62,000. The next key resistance could be $63,200 and the 100 hourly Simple moving average. It is close to the 50% Fib retracement level of the recent decline from the $65,500 swing high to the $60,888 low. Source: BTCUSD on TradingView.com The main hurdle is now at $63,800. A clear move above the $63,800 resistance might send the price higher. The next resistance now sits at $64,450. If there is a close above the $64,450 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $65,500. More Downsides In BTC? If Bitcoin fails to climb above the $62,000 resistance zone, it could continue to move down. Immediate support on the downside is near the $60,850 level. The first major support is $60,000. If there is a close below $60,000, the price could start to drop toward $58,000. Any more losses might send the price toward the $56,500 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 – $60,850, followed by $60,000. Major Resistance Levels – $62,000, $63,200, and $64,450.

1 Year Bitcoin Chart

1 Year Bitcoin Chart

1 Month Bitcoin Chart

1 Month Bitcoin Chart

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