Bitcoin

Resistance

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-faces-key-resistance-levels/" data-wpel-link="internal">Bitcoin Faces Key Resistance Levels</a><br></p>
<p style="text-align: justify"><strong><a href="https://coin-turk.com/bitcoin-yurudugunde-bu-altcoin-kosuyor-gozde-altcoinin-hedefi-130-dolar" data-wpel-link="internal">The world of cryptocurrency</a></strong> continues its uncertain path with <a href="https://coin-turk.com/bitcoin-fiyat-analizi-lider-kripto-para-btc-bu-seviyeyi-kaybetmemeli" data-wpel-link="internal">Bitcoin</a> leading the way. Despite reaching a short-term peak around $64,450, it failed to surpass the $65,000 resistance zone and has since declined. The recent drop extended below the $63,000 and $62,000 levels, eventually falling below even the $60,000 mark, with the lowest point around $59,700. Efforts are now being made for a recovery wave.</p> 
<h2 style="text-align: justify" id="bitcoin-may-encounter-resistance-at-62-000">Bitcoin May Encounter Resistance at $62,000</h2> 
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/the-future-of-bitcoin-price-predictions-and-market-dynamics/" data-wpel-link="internal">Bitcoin</a></strong> is still trading below $63,000 and the 100-hour Simple Moving Average. The immediate resistance is found near the $62,000 level.</p> 
<p style="text-align: justify">The first major resistance is at $62,650, followed by another at the $63,000 level. If the cryptocurrency Bitcoin can make a clear move above the $63,000 resistance area, there is a possibility for the price to continue rising. In this scenario, the price could gain momentum towards $64,500.</p> 
<p style="text-align: justify">However, the key determining point appears to be the $65,000 zone. This level stands as the next major resistance point. Should Bitcoin achieve more gains in the near term, we could see a move towards the $66,500 resistance area.</p> 
<h2 style="text-align: justify" id="key-levels-to-watch-in-a-downward-btc-movement">Key Levels to Watch in a Downward BTC Movement</h2> 
<p style="text-align: justify">If Bitcoin fails to rise above the $63,000 resistance area, a new downward wave could begin. Particularly, the immediate downside support level is set at $60,800.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-341548 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/kripto-btc-coin-turk-com-.png" alt="" width="1832" height="797"></p> 
<p style="text-align: justify">Currently, the first major support for <a href="https://en.coin-turk.com/when-will-the-rise-in-sp-500-and-bitcoin-begin/" data-wpel-link="internal">BTC</a> is around $60,000. However, if it closes below this level, a retreat to around $59,200 could be expected. Further losses could potentially lead Bitcoin’s price towards the $58,500 support area in the near term.</p> 
<h2 style="text-align: justify" id="technical-indicators-for-btc">Technical Indicators for BTC</h2> 
<p style="text-align: justify">Looking at the technical indicators, the hourly MACD is losing momentum in the bearish zone. Similarly, the hourly RSI (Relative Strength Index) for BTC/USD is also trending below the 50 level.</p> 
<p style="text-align: justify">For Bitcoin, the flagship of cryptocurrencies, the main support levels are at $60,800 and $60,000, while the resistance levels are set at $62,650, $63,000, and $64,500.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-faces-key-resistance-levels/" data-wpel-link="internal">Bitcoin Faces Key Resistance Levels</a></h5>

Bitcoin Faces Key Resistance Levels

Table of Contents

COINTURK NEWS

Other articles published on Apr 18, 2024

2 Top Altcoins To Buy Last Minute Before Bitcoin Halving

Maximizing Opportunity Amidst A Changing Global Economic Climate: Margex Analyst

Crypto Investor Shares Six Essential Tips for Bull Run Success

Binance Returns to India with $2 Million Penalty

Binance Secures Regulatory License in Dubai

A Complete DappRadar’s Guide To CallHub ($CHUB) Staking

Join our free newsletter for daily crypto updates!