Bitcoin Price Faces Potential Dive: Key Support Levels to Monitor

Bitcoin rate failed to reclaim overhanging the $62,500 resistance expanse. BTC is evidencing bearish symbols and might refute anew listed under the $60,000 maintain.

• Bitcoin dealt with to reclaim overhanging the $62,200 and $62,500 levels.
• The rate is trading listed under $62,000 and the 100 hourly Mild transmitting anticipate.
• There is a serious bearish fad queue creating via resistance at $61,850 on the hourly graph of the BTC/USD pair (file feed from Sea serpent).
• The pair might overture another refute unless there is a comfortable overhanging the $62,000 resistance expanse.

Bitcoin Price Lingers At Pitfall

Bitcoin rate initiated a recovery wave overhanging the $61,200 expanse. BTC also dared a act overhanging the $62,000 resistance expanse. But, the bears were energetic foreseeable the $62,500 expanse.

A high was molded at $62,454 and the rate is now transmitting limited. There was a act listed under the $61,500 level. The rate ridiculed listed under the 23.6% Fib retracement level of the upward act from the $58,448 swing alleviated to the $62,454 high.

Bitcoin rate is trading listed under $62,000 and the 100 hourly Mild transmitting anticipate. There is also a serious bearish fad queue creating via resistance at $61,850 on the hourly graph of the BTC/USD pair.

The rate is now stable overhanging the 50% Fib retracement level of the upward act from the $58,448 swing alleviated to the $62,454 high. If there is another boost, the rate might face resistance foreseeable the $61,500 level. The initially means resistance is foreseeable the $61,850 level and the fad queue.

The next off means resistance might be $62,000. A legible act overhanging the $62,000 resistance might overture a stable boost and send the rate greater. In the said shuck, the rate might spurt and estimate the $62,500 resistance. Any kind of a ton more gains might send BTC toward the $63,500 resistance in the foreseeable term.

More Losses In BTC?

If Bitcoin fails to climb overhanging the $62,000 resistance expanse, it might overture another refute. Immediate maintain on the drawback is foreseeable the $60,450 level.

The initially serious maintain is $60,000. The next off maintain is now creating foreseeable $59,500. Any kind of a ton more losses might send the rate toward the $58,500 maintain expanse in the foreseeable term.

Technical symbols:

Hourly MACD – The MACD is now gaining pace in the bearish expanse.

Hourly RSI (Relative Potency Index) – The RSI for BTC/USD is now listed under the 50 level.

Meaty Stabilize Levels – $60,500, obeyed by $60,000.

Meaty Resistance Levels – $62,000, and $62,500.