Bitcoin Price Recovery: Here Are Challenges On The Road to Rebound

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,209,645,223,087	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,209,645,223,087

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	679.20	1.12%	61,570.34	61,570.33	61,570.34

Price Change

Price Change %

Current Price

Bid Price

Offer

679.20

1.12%

61,570.34

61,570.33

61,570.34

High Price	Low Price	Open Price	Prev. Close	52 Week Range
61,738.19	60,611.01	60,866.66	60,891.14	24,900.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

61,738.19

60,611.01

60,866.66

60,891.14

24,900.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	15:23:43	0.001412	61,570.34	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

15:23:43

0.001412

61,570.34

USD

Price x Volume	Volume	Base Symbol	Related Pairs
157,550,648.55	2,573.05	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

157,550,648.55

2,573.05

Bitcoin Price Recovery: Here Are Challenges On The Road to Rebound

28/06/2024 3:47am

NEWSBTC

Bitcoin price is consolidating above the $60,550 support zone. BTC could avoid more downsides if it manages to recover above the $62,400 resistance. Bitcoin is still struggling to recover above the $62,200 and $62,400 levels. The price is trading above $61,500 and the 100 hourly Simple moving average. There was a break above a major bearish trend line with resistance at $61,250 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might start another decline unless there is a close above the $62,400 resistance zone. Bitcoin Price Faces Hurdles Bitcoin price struggled to rise above the $62,400 resistance zone. BTC again declined below $62,000, but the bulls were able to protect the $60,550 support. The recent high was formed at $62,297 and the price is now consolidating. Recently, there was a break above a major bearish trend line with resistance at $61,250 on the hourly chart of the BTC/USD pair. It is trading above the 50% Fib retracement level of the upward move from the $60,580 swing low to the $62,297 high. Bitcoin price is now trading above $61,500 and the 100 hourly Simple moving average. If there is another increase, the price could face resistance near the $62,250 level. The first key resistance is near the $62,400 level. The next key resistance could be $62,500. A clear move above the $62,500 resistance might start a steady increase and send the price higher. In the stated case, the price could rise and test the $63,500 resistance. Any more gains might send BTC toward the $64,400 resistance in the near term. Another Decline In BTC? If Bitcoin fails to climb above the $62,400 resistance zone, it could start another decline. Immediate support on the downside is near the $61,450 level and the 100 hourly Simple moving average. The first major support is $61,150 and the 61.8% Fib retracement level of the upward move from the $60,580 swing low to the $62,297 high. The next support is now forming near $60,550. Any more losses might send the price toward the $58,500 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 above the 50 level. Major Support Levels – $61,150, followed by $60,550. Major Resistance Levels – $62,250, and $62,400.

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

BTCUSD Bitcoin