Bitcoin Price Losing Steam: Market Momentum Slows Amid Trading Hesitation

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,287,213,125,103	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,287,213,125,103

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-1,147.03	-1.72%	65,491.97	65,486.67	65,486.68

Price Change

Price Change %

Current Price

Bid Price

Offer

-1,147.03

-1.72%

65,491.97

65,486.67

65,486.68

High Price	Low Price	Open Price	Prev. Close	52 Week Range
66,871.74	65,450.00	66,636.61	66,639.00	24,900.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

66,871.74

65,450.00

66,636.61

66,639.00

24,900.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	13:53:56	0.048818	65,491.97	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

13:53:56

0.048818

65,491.97

USD

Price x Volume	Volume	Base Symbol	Related Pairs
265,130,655.54	4,012.25	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

265,130,655.54

4,012.25

Bitcoin Price Losing Steam: Market Momentum Slows Amid Trading Hesitation

27/05/2024 2:17am

NEWSBTC

Bitcoin price is slowly losing momentum and struggling below $70,000. BTC is now consolidating and facing hurdles near the $69,500 resistance zone. Bitcoin is facing many key hurdles near the $70,000 zone. The price is trading above $69,500 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance at $69,100 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down if it stays below the $70,000 zone. Bitcoin Price Stuck Below $70K Bitcoin price found support above the $66,000 level and started another increase. BTC was able to clear the $68,000 resistance zone. However, the bears were active near the $69,500 and $70,000 levels. A high was formed near $69,608 and the price is now correcting gains. There was a move below the 23.6% Fib retracement level of the upward move from the $66,250 swing low to the $69,608 high. It even tested the $68,000 support zone. The bulls are now active near the 50% Fib retracement level of the upward move from the $66,250 swing low to the $69,608 high. Bitcoin price is trading above $69,500 and the 100 hourly Simple moving average. If there is a fresh increase, the price might face resistance near the $69,000 level. There is also a key bearish trend line forming with resistance at $69,100 on the hourly chart of the BTC/USD pair. The first major resistance could be $69,500. The next key resistance could be $70,000. A clear move above the $70,000 resistance might send the price higher. In the stated case, the price could rise and test the $71,200 resistance. Any more gains might send BTC toward the $72,000 resistance. More Losses In BTC? If Bitcoin fails to climb above the $69,500 resistance zone, it could continue to move down. Immediate support on the downside is near the $68,000 level. The first major support is $67,500. The next support is now forming near $67,000. Any more losses might send the price toward the $65,500 support zone 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 – $67,500, followed by $67,000. Major Resistance Levels – $69,100, and $69,500.

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