Bitcoin Price Decline Below $60k Support Against US Dollar
- Bitcoin (BTC) started a fresh decline below the $65k and $62k support levels.
- The price is now trading below $60,000 and the 100 hourly simple moving average.
- A key bearish trend line forming with resistance near $61,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could extend losses below the $58,500 and $57,500 support levels in the near term.
Bitcoin Price Gains Bearish Momentum
- Bitcoin (BTC) started a fresh decline from well above the $65,000 zone.
- BTC traded below the key $65,000 support level to enter a bearish zone.
- A clear break below the $62,000 support and the 100 hourly simple moving average.
- Finally, the price traded below the main $60,000 support zone.
- A low is formed near $58,630.
- The price is now consolidating losses.
- On the upside, an immediate resistance is near the $60,000 level.
- The first major resistance is near the $60,450 level.
- It is close to the