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Bitcoin price is consolidating above the $60,000 support. BTC seems to be eyeing a fresh increase above the $61,200 and $61,500 levels.<\/em><\/p>\n

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Bitcoin is consolidating above the $60,000 support zone.<\/li>\n
The price is trading below $61,750 and the 100 hourly Simple moving average.<\/li>\n
There was a break above a key bearish trend line with resistance at $60,850 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n

The pair could start another increase if it clears the $61,200 resistance zone.<\/li>\n<\/ul>\n
Bitcoin Price Signals Positive Moves<\/h2>\n
Bitcoin price extended its decline<\/a> below the $61,200 support. BTC broke the $60,500 and $60,200 support levels to move into a short-term bearish zone. The price even dipped below $60,000.<\/p>\n
A low was formed at $59,850 and the price is now consolidating losses<\/a>. There was a minor increase above the $60,450 level. The price climbed above the 50% Fib retracement level of the downward move from the $62,350 swing high to the $59,850 low.<\/p>\n
There was also a break above a key bearish trend line with resistance at $60,850 on the hourly chart of the BTC\/USD pair. Bitcoin is now trading below $61,750 and the 100 hourly Simple moving average.<\/p>\n
On the upside, the price could face resistance near the $61,400 level. The first key resistance is near the $61,750 level or the 76.4% Fib retracement level of the downward move from the $62,350 swing high to the $59,850 low. A clear move above the $61,750 resistance might send the price higher. The next key resistance could be $62,350.<\/p>\n
$\"Bitcoin$ <\/a>
Source: BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
A close above the $62,350 resistance might initiate more gains. In the stated case, the price could rise and test the $62,850 resistance level. Any more gains might send the price toward the $63,200 resistance level.<\/p>\n
Another Decline In BTC?<\/h2>\n
If Bitcoin fails to rise above the $61,750 resistance zone, it could start another decline. Immediate support on the downside is near the $60,450 level.<\/p>\n
The first major support is near the $60,000 level. The next support is now near the $59,850 zone. Any more losses might send the price toward the $58,800 support in the near term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now losing pace in the bearish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n
Major Support Levels \u2013 $60,450, followed by $60,000.<\/p>\n
Major Resistance Levels \u2013 $61,400, and $61,750.<\/p>\n<\/p><\/div>\n

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Este art\u00edculo tambi\u00e9n est\u00e1 disponible en espa\u00f1ol. Bitcoin price is consolidating above the $60,000 support. BTC seems to be eyeing a fresh increase above the $61,200 and $61,500 levels. Bitcoin is consolidating above the $60,000 support zone. The price is trading below $61,750 and the 100 hourly Simple moving average. There was a break above […]<\/p>\n","protected":false},"author":1,"featured_media":104936,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[36,2305,124,503,811,2028],"class_list":{"0":"post-104935","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market","8":"tag-bitcoin","9":"tag-poised","10":"tag-price","11":"tag-recovery","12":"tag-resume","13":"tag-uptrend"},"_links":{"self":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/posts\/104935","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/comments?post=104935"}],"version-history":[{"count":0,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/posts\/104935\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/media\/104936"}],"wp:attachment":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/media?parent=104935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/categories?post=104935"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/tags?post=104935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}