{"id":4549,"date":"2024-08-14T02:15:46","date_gmt":"2024-08-14T02:15:46","guid":{"rendered":"https:\/\/cryptd.in\/bitcoin-price-crosses-60k-but-struggles-to-maintain-pace\/"},"modified":"2024-08-14T02:15:46","modified_gmt":"2024-08-14T02:15:46","slug":"bitcoin-price-crosses-60k-but-struggles-to-maintain-pace","status":"publish","type":"post","link":"https:\/\/cryptd.in\/sl\/bitcoin-price-crosses-60k-but-struggles-to-maintain-pace\/","title":{"rendered":"Bitcoin Price Crosses $60K, But Struggles to Maintain Pace"},"content":{"rendered":"

Bitcoin price recovered above the $60,000 resistance zone. BTC is now struggling to clear the $61,200 and $61,500 resistance levels.<\/em><\/p>\n

Bitcoin started a recovery wave above the $60,000 resistance zone.
\nThe price is trading above $60,000 and the 100 hourly Simple moving average.
\nThere was a break above a connecting bearish trend line with resistance at $59,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair might attempt a fresh increase if it settles above the $61,500 resistance zone.<\/p>\n

Bitcoin Price Builds Momentum<\/h2>\n

Bitcoin price started a decent upward move<\/a> above the $58,500 resistance zone. BTC was able to clear the $59,500 and $60,000 resistance levels.<\/p>\n

There was a break above a connecting bearish trend line with resistance at $59,500 on the hourly chart of the BTC\/USD pair. It even spiked above the $61,500 level. A high was formed at $61,555 and the price is now correcting gains.<\/p>\n

There was a move below the $61,200 and $61,000 levels. The price dipped below the 23.6% Fib retracement level of the upward move from the $58,441 swing low to the $61,555 high.<\/p>\n

Bitcoin price is now trading above $60,000 and the 100 hourly Simple moving average<\/a>. It is also well above the 50% Fib retracement level of the upward move from the $58,441 swing low to the $61,555 high. On the upside, the price could face resistance near the $61,200 level.<\/p>\n

The first key resistance is near the $61,500 level. A clear move above the $61,500 resistance might send the price further higher in the coming sessions. The next key resistance could be $62,500.<\/p>\n

<\/a><\/p>\n

The next major hurdle sits at $63,500. A close above the $63,500 resistance might spark more upsides. In the stated case, the price could rise and test the $65,000 resistance.<\/p>\n

Another Drop In BTC?<\/h2>\n

If Bitcoin fails to rise above the $61,500 resistance zone, it could start another decline. Immediate support on the downside is near the $60,000 level and the 100 hourly Simple moving average.<\/p>\n

The first major support is $59,650. The next support is now near the $59,150 zone. Any more losses might send the price toward the $58,500 support zone or even $57,200 in the near term.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n

Major Support Levels \u2013 $60,000, followed by $59,650.<\/p>\n

Major Resistance Levels \u2013 $61,200, and $61,500.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price recovered above the $60,000 resistance zone. BTC is now struggling to clear the $61,200 and $61,500 resistance levels. Bitcoin started a recovery wave above the $60,000 resistance zone. The price is trading above $60,000 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend line with resistance […]<\/p>\n","protected":false},"author":0,"featured_media":4550,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4549","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"\nBitcoin Price Crosses $60K, But Struggles to Maintain Pace - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/sl\/bitcoin-price-crosses-60k-but-struggles-to-maintain-pace\/\" \/>\n<meta property=\"og:locale\" content=\"sl_SI\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price Crosses $60K, But Struggles to Maintain Pace - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"Bitcoin price recovered above the $60,000 resistance zone. BTC is now struggling to clear the $61,200 and $61,500 resistance levels. Bitcoin started a recovery wave above the $60,000 resistance zone. The price is trading above $60,000 and the 100 hourly Simple moving average. 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