Bitcoin Price Dips As Dollar Rips, Key Support Nearby

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,251,163,742,899	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,251,163,742,899

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-728.47	-1.13%	63,756.17	63,756.16	63,756.17

Price Change

Price Change %

Current Price

Bid Price

Offer

-728.47

-1.13%

63,756.17

63,756.16

63,756.17

High Price	Low Price	Open Price	Prev. Close	52 Week Range
64,810.00	63,287.76	64,488.01	64,484.64	24,750.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

64,810.00

63,287.76

64,488.01

64,484.64

24,750.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	23:53:15	0.000367	63,756.17	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

23:53:15

0.000367

63,756.17

USD

Price x Volume	Volume	Base Symbol	Related Pairs
775,980,882.16	12,115.71	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

775,980,882.16

12,115.71

Bitcoin Price Dips As Dollar Rips, Key Support Nearby

06/02/2023 3:32am

NEWSBTC

Bitcoin price is correcting gains below the $23,250 zone. BTC must stay above the $22,500 support to avoid a major drop in the coming sessions. Bitcoin is correcting gains below the $23,250 support zone. The price is trading below $23,250 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $23,380 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue lower towards the $22,500 support zone in the near term. Bitcoin Price Remains Supported Bitcoin price failed to settle above the $24,000 level and started a downside correction. BTC declined below the $23,500 and $23,250 support levels to move into a short-term bearish zone. There was a break below a key bullish trend line with support near $23,380 on the hourly chart of the BTC/USD pair. The pair even declined below the $23,000 level. A low is formed near $22,758 and the price is now consolidating losses. Bitcoin price is trading below $23,250 and the 100 hourly simple moving average. An immediate resistance is near the $23,000 zone. It is near the 23.6% Fib retracement level of the recent decline from the $23,589 swing high to $22,758 low. The next major resistance is near the $23,200 zone. There is also a connecting bearish trend line with resistance near $23,200 on the same chart. The trend line is close to the 50% Fib retracement level of the recent decline from the $23,589 swing high to $22,758 low. Source: BTCUSD on TradingView.com A clear move above the $23,200 resistance might start a decent increase. In the stated case, the price may perhaps rise towards the $23,500 level. The next resistance could be near the $24,250 level, above which btc price might test $25,000. More Losses in BTC? If bitcoin price fails to clear the $23,200 resistance, it could continue to move down. An immediate support on the downside is near the $22,750 zone. The next major support is near the $22,550 zone. A downside break below the $22,500 level might send the price towards the $22,200 level. Any more losses might send the price to $21,500 in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $22,750, followed by $22,550. Major Resistance Levels – $23,000, $23,200 and $23,500.

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