✴️ Bitcoin - Technical Analysis
Bitcoin failed to overcome the resistance of the $ 64,000 range, and a bearish correction began. It is now in a situation where there is a possibility of more or less falling below the $ 60,000 support over time.
Bitcoin searched to cross the $ 64,000 resistance range but did not find any. The cows could not control the area, and the fall began. The bears seized power and managed to lower the price below $ 62500 support.
BTC continued to fall in support of $ 62,000 and a 100-hour moving increase. Eventually, a leap came under the $ 60,000 psychological support, but eventually, the cows showed up. The bear flag was knocked to the $ 59,824 floor, and now the cows are trying to bring back the positive atmosphere. The recent fall's 23.6% Fibonacci retracement level has been cut from the $ 63,700 ceiling to the $ 59,824 floor.
In the current situation, Bitcoin is struggling with a resistance of $ 61,000. The nearest significant resistance level is in the range of $ 61,750 and the moving size.
Above, the $ 62,000 range is the key resistance. The BTC / USD pair's hourly chart also shows a large downtrend line with a resistance of around $ 62,300. Breaking the trend line and then leaving the limited resistance of $ 62,500 will provide the conditions to return to the higher level and meet the resistance of $ 64,000 twice. In the meantime, only $ 63,200 resistance should be monitored.
But if Bitcoin (#BTC) cannot cross the limited resistance of $ 62.00, the downtrend is likely to resume. In this case, the nearest support level downstream would be the same $ 60,000 psychological range.
Below is the key support of $ 59,500, the collapse of which will signal a terrible fall soon. Under these limited circumstances, the $ 58,000 support will be the nearest Bitcoin (#BTC) haven.
Bitcoin searched to cross the $ 64,000 resistance range but did not find any. The cows could not control the area, and the fall began. The bears seized power and managed to lower the price below $ 62500 support.
BTC continued to fall in support of $ 62,000 and a 100-hour moving increase. Eventually, a leap came under the $ 60,000 psychological support, but eventually, the cows showed up. The bear flag was knocked to the $ 59,824 floor, and now the cows are trying to bring back the positive atmosphere. The recent fall's 23.6% Fibonacci retracement level has been cut from the $ 63,700 ceiling to the $ 59,824 floor.
In the current situation, Bitcoin is struggling with a resistance of $ 61,000. The nearest significant resistance level is in the range of $ 61,750 and the moving size.
Above, the $ 62,000 range is the key resistance. The BTC / USD pair's hourly chart also shows a large downtrend line with a resistance of around $ 62,300. Breaking the trend line and then leaving the limited resistance of $ 62,500 will provide the conditions to return to the higher level and meet the resistance of $ 64,000 twice. In the meantime, only $ 63,200 resistance should be monitored.
But if Bitcoin (#BTC) cannot cross the limited resistance of $ 62.00, the downtrend is likely to resume. In this case, the nearest support level downstream would be the same $ 60,000 psychological range.
Below is the key support of $ 59,500, the collapse of which will signal a terrible fall soon. Under these limited circumstances, the $ 58,000 support will be the nearest Bitcoin (#BTC) haven.
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