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BTCUSD Bitcoin

65,998.80

759.56 (1.16%)

14:55:28 - Realtime Data

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,294,803,161,093	SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	759.56	1.16%	65,998.80	65,998.88	65,999.90

High Price	Low Price	Open Price	Prev. Close	52 Week Range
66,574.79	65,113.46	65,296.50	65,239.24	24,750.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	14:55:28	0.002632	65,998.80	USD

Price x Volume	Volume	Base Symbol	Related Pairs
346,370,518.57	5,245.68	BTC	BTCEUR	BTCGBP	ETHBTC

Bitcoin Price Settles Below $60K, Is This A Critical Bearish Sign?

02/05/2024 4:12am

NEWSBTC

Bitcoin price extended losses and settled below $60,000. BTC is now consolidating losses near $58,000 and remains at risk of more downsides in the near term. Bitcoin extended losses and traded below the $60,000 zone. The price is trading below $59,000 and the 100 hourly Simple moving average. There is a major bearish trend line forming with resistance at $58,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down since there is a daily close below the $60,000 zone. Bitcoin Price Takes Hit Bitcoin price remained in a bearish zone and traded below the $60,500 support level. BTC even settled below the $60,000 level to enter a short-term bearish zone. There was a drop below the $58,000 level. A low was formed at $56,378 and the price is now consolidating losses. There was a minor increase toward the $58,000 level and the 23.6% Fib retracement level of the downward move from the $64,740 swing high to the $56,378 low. Bitcoin is now trading below $58,500 and the 100 hourly Simple moving average. Immediate resistance is near the $58,000 level. There is also a major bearish trend line forming with resistance at $58,000 on the hourly chart of the BTC/USD pair. The first major resistance could be $59,200. The next key resistance could be $60,500 or the 50% Fib retracement level of the downward move from the $64,740 swing high to the $56,378 low. Source: BTCUSD on TradingView.com A clear move above the $60,500 resistance might send the price higher. The next resistance now sits at $61,500. If there is a clear move above the $61,500 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $63,500. More Losses In BTC? If Bitcoin fails to rise above the $58,500 resistance zone, it could continue to move down. Immediate support on the downside is near the $57,000 level. The first major support is $56,500. If there is a close below $56,500, the price could start to drop toward $55,000. Any more losses might send the price toward the $53,500 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 – $57,000, followed by $56,500. Major Resistance Levels – $58,500, $60,500, and $61,500.

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