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BTCUSD Bitcoin

66,381.07

-559.59 (-0.84%)

20:29:29 - Realtime Data

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,300,906,486,978	SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-559.59	-0.84%	66,381.07	66,381.06	66,381.07

High Price	Low Price	Open Price	Prev. Close	52 Week Range
67,701.91	66,028.97	66,985.55	66,940.66	24,750.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	20:29:29	0.002476	66,381.07	USD

Price x Volume	Volume	Base Symbol	Related Pairs
242,944,297.61	3,626.58	BTC	BTCEUR	BTCGBP	ETHBTC

Bitcoin Price Dips Again, Is This A Fresh Bearish Signal?

08/05/2024 4:24am

NEWSBTC

Bitcoin price failed to clear the $65,500 resistance. BTC is now moving lower and there are a few bearish signs emerging below the $63,500 level. Bitcoin started a fresh downside correction and traded below $63,500. The price is trading below $63,350 and the 100 hourly Simple moving average. There was a break below a major bullish trend line with support at $63,700 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 Rejects $65,500 Bitcoin price extended its increase above the $64,500 level. However, BTC struggled to clear the $65,500 resistance zone. A high was formed at $65,550 and the price is now correcting gains. There was a move below the $64,000 level. The price declined below the 23.6% Fib retracement level of the upward wave from the $56,380 swing low to the $65,550 high. Besides, there was a break below a major bullish trend line with support at $63,700 on the hourly chart of the BTC/USD pair. Bitcoin is now trading below $63,500 and the 100 hourly Simple moving average. Immediate resistance is near the $63,350 level. The first major resistance could be $64,000. The next key resistance could be $65,000. Source: BTCUSD on TradingView.com The main hurdle is now at $65,500. A clear move above the $65,500 resistance might send the price higher. The next resistance now sits at $66,650. If there is a close above the $66,650 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $68,000. More Losses In BTC? If Bitcoin fails to climb above the $63,500 resistance zone, it could continue to move down. Immediate support on the downside is near the $62,000 level. The first major support is $61,000 or the 50% Fib retracement level of the upward wave from the $56,380 swing low to the $65,550 high. If there is a close below $61,000, the price could start to drop toward $60,000. Any more losses might send the price toward the $58,000 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 – $62,000, followed by $60,000. Major Resistance Levels – $63,500, $64,000, and $65,500.

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