Bittime - Bitcoin price continues to fall and is trading below the $62,500 threshold. If the price remains below $60,000, it may also drop further. Bitcoin has a 100 hourly moving average and is currently trading below $62,500, following a downward trend.
The BTC/USD pair has a bearish trend line connecting resistance at $62,000 on the hourly chart. It is possible that the pair will resume its decline in the near term back to the $60,000 support zone.
Bitcoin Price Continues to Decline
Bitcoin price continues to weaken and tries to stay above $63,500. There was movement below the $63,000 and $62,500 levels, the price even fell below $61,200.
The price is currently experiencing losses after hitting a low of $60,888. In the event of a recovery wave, the price may struggle to break through the $62,000 resistance, or the 23.6% Fib retracement level of the recent decline from the $65,500 swing high to the $60,888 low.
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BTC/USD Pair Hourly Chart
Additionally, on the hourly chart of the BTC/USD pair, a descending trend line connecting the resistance at $62,000 is visible.Significant initial resistance may emerge, with the immediate price around $61,800.
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Possible Price Increase Above Resistance
The price may rise if it moves above the current major resistance, which is $63,800. The next resistance is at $64,450, and in the event of a close above this resistance zone, the price may continue to rise. In this case the price may rise to $65,500.
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Have Additional Problems with BTC?
There is a possibility that Bitcoin will continue to fall if it fails to rise above the $62,000 resistance zone. The immediate support below is near the $60,850 level.
If it closes below $60,000, the price starts to fall towards the $58,000 support zone. If further losses occur, the price may soon return to the $56,500 support zone.
How To Buy Bitcoin (BTC) With Bittime
You can buy and sell Bitcoin (BTC) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Bitcoin (BTC) is available on Bittime with BTC IDR pairing.
To be able to buy BTC tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn How to Buy Bitcoin (BTC) on Bittime.
Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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