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BTCUSD Bitcoin

69,601.11

-1,848.29 (-2.59%)

18:18:04 - Realtime Data

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,365,780,609,944	SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-1,848.29	-2.59%	69,601.11	69,601.12	69,601.13

High Price	Low Price	Open Price	Prev. Close	52 Week Range
71,980.00	69,500.03	71,364.37	71,449.41	24,750.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GEMN	18:18:05	0.002102	69,590.93	USD

Price x Volume	Volume	Base Symbol	Related Pairs
1,072,195,313.02	15,129.60	BTC	BTCEUR	BTCGBP	ETHBTC

Bitcoin Price Nosedives, Can Bulls Save The Key Support at $60K?

01/05/2024 3:54am

NEWSBTC

Bitcoin price took a hit and even spiked below $60,000. BTC could gain bearish momentum if there is a daily close below the $60,000 support zone. Bitcoin started another decline and traded below the $61,200 zone. The price is trading below $62,000 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $60,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could accelerate lower if it fails to recover above $60,400 and then $62,000 this week. Bitcoin Price Reaches Support Bitcoin price started another decline below the $62,500 support level. BTC dropped below the $61,200 level as the bears took control. They even managed to push the price below $60,000. A low was formed at $59,110 and the price is now consolidating losses. There was a minor increase above the $60,000 level and the 23.6% Fib retracement level of the recent decline from the $64,738 swing high to the $59,110 low. Bitcoin is now trading below $61,500 and the 100 hourly Simple moving average. Immediate resistance is near the $60,400 level. There is also a connecting bearish trend line forming with resistance at $60,400 on the hourly chart of the BTC/USD pair. The first major resistance could be $61,200. The next key resistance could be $62,000 or the 50% Fib retracement level of the recent decline from the $64,738 swing high to the $59,110 low. Source: BTCUSD on TradingView.com A clear move above the $62,000 resistance might send the price higher. The next resistance now sits at $62,500. If there is a clear move above the $62,500 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $64,000. More Downsides In BTC? If Bitcoin fails to rise above the $60,400 resistance zone, it could continue to move down. Immediate support on the downside is near the $59,500 level. The first major support is $59,100. If there is a close below $59,100, the price could start to drop toward $58,000. Any more losses might send the price toward the $56,400 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 – $59,500, followed by $59,100. Major Resistance Levels – $60,400, $61,200, and $62,000.

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1 Year Bitcoin Chart

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1 Month Bitcoin Chart

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