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{"id":645831,"date":"2024-10-02T02:48:00","date_gmt":"2024-10-02T02:48:00","guid":{"rendered":"https:\/\/www.shenyangcang.com\/?p=645831"},"modified":"2024-10-02T02:48:00","modified_gmt":"2024-10-02T02:48:00","slug":"bitcoin-price-falls-60k","status":"publish","type":"post","link":"https:\/\/www.shenyangcang.com\/analysis\/btc\/bitcoin-price-falls-60k\/","title":{"rendered":"Bitcoin Price Falls To $60K: Is A Rebound Possible?"},"content":{"rendered":"

Bitcoin price started a fresh decline below the $63,500 level. BTC is now consolidating above $60,000 and might face many hurdles on the upside.<\/em><\/p>\n

\n
Bitcoin is down over 5% from the $65,000 resistance zone.<\/li>\n
The price is trading below $63,500 and the 100 hourly Simple moving average.<\/li>\n
There is a connecting bearish trend line with resistance at $62,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could start another increase if it stays above the $60,500 support zone.<\/li>\n<\/ul>\n
Bitcoin Price Takes Hit<\/h2>\n
Bitcoin price started a fresh decline from the $65,000 resistance<\/a>. BTC broke the $64,000 and $63,500 support levels to move into a short-term bearish zone.<\/p>\n
The price even dipped below $61,500. A low was formed at $60,281 and the price is now consolidating losses. The price is now trading near the 23.6% Fib retracement level of the downward move from the $66,055 swing high to the $60,281 low.<\/p>\n
Bitcoin is now trading below $62,500 and the 100 hourly Simple moving average<\/a>. If there is a fresh increase, the price could face resistance near the $61,650 level. The first key resistance is near the $62,500 level. There is also a connecting bearish trend line with resistance at $62,800 on the hourly chart of the BTC\/USD pair.<\/p>\n
A clear move above the $62,800 resistance might send the price higher. The next key resistance could be $63,200. It is close to the 50% Fib retracement level of the downward move from the $66,055 swing high to the $60,281 low.<\/p>\n
$\"Bitcoin$ <\/a>
Source: BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
A close above the $63,200 resistance might spark more upsides. In the stated case, the price could rise and test the $64,000 resistance level. Any more gains might send the price toward the $65,000 resistance level.<\/p>\n
More Losses In BTC?<\/h2>\n
If Bitcoin fails to rise above the $62,800 resistance zone, it could continue to move down. Immediate support on the downside is near the $61,000 level.<\/p>\n
The first major support is near the $60,500 level. The next support is now near the $60,000 zone. Any more losses might send the price toward the $58,500 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 $60,500, followed by $60,000.<\/p>\n
Major Resistance Levels \u2013 $61,650, and $62,800.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price started a fresh decline below the $63,500 level. BTC is now consolidating above $60,000 and might face many hurdles on the upside. Bitcoin is down over 5% from the $65,000 resistance zone. The price is trading below $63,500 and the 100 hourly Simple moving average. There is a connecting bearish trend line with resistance at $62,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start another increase if it stays above the $60,500 support zone. Bitcoin Price Takes Hit Bitcoin price started a fresh decline from the $65,000 resistance. BTC broke the $64,000 and $63,500 support levels to move into a short-term bearish zone. The price even dipped below $61,500. A low was formed at $60,281 and the price is now consolidating losses. The price is now trading near the 23.6% Fib retracement level of the downward move from the $66,055 swing high to the $60,281 low. Bitcoin is now trading below $62,500 and the 100 hourly Simple moving average. If there is a fresh increase, the price could face resistance near the $61,650 level. The first key resistance is near the $62,500 level. There is also a connecting bearish trend line with resistance at $62,800 on the hourly chart of the BTC\/USD pair. A clear move above the $62,800 resistance might send the price higher. The next key resistance could be $63,200. It is close to the 50% Fib retracement level of the downward move from the $66,055 swing high to the $60,281 low. A close above the $63,200 resistance might spark more upsides. In the stated case, the price could rise and test the $64,000 resistance level. Any more gains might send the price toward the $65,000 resistance level. More Losses In BTC? If Bitcoin fails to rise above the $62,800 resistance zone, it could continue to move down. Immediate support on the downside is near the $61,000 level. The first major support is near the $60,500 level. The next support is now near the $60,000 zone. Any more losses might send the price toward the $58,500 support in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level. Major Support Levels \u2013 $60,500, followed by $60,000. Major Resistance Levels \u2013 $61,650, and $62,800.<\/p>\n","protected":false},"author":67,"featured_media":645833,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83361],"tags":[428,679,1144,78790,76835],"class_list":["post-645831","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-btc","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nBitcoin Price Falls To $60K: Is A Rebound Possible?<\/title>\n<meta name=\"description\" content=\"Bitcoin price started a fresh decline below the $63,500 level. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/www.shenyangcang.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Falls To $60K: Is A Rebound Possible?","url":"http:\/\/www.shenyangcang.com\/analysis\/btc\/bitcoin-price-falls-60k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.shenyangcang.com\/analysis\/btc\/bitcoin-price-falls-60k\/"},"thumbnailUrl":"https:\/\/www.shenyangcang.com\/wp-content\/uploads\/2024\/10\/Bitcoin-dips-60k.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/www.shenyangcang.com\/wp-content\/uploads\/2024\/10\/Bitcoin-dips-60k.jpg?fit=1792%2C1024"},"articleSection":"BTC","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/www.shenyangcang.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","btcusd","btcusdt","xbtusd"],"dateCreated":"2024-10-02T02:48:00Z","datePublished":"2024-10-02T02:48:00Z","dateModified":"2024-10-02T02:48:00Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Falls To $60K: Is A Rebound Possible?\",\"url\":\"http:\\\/\\\/www.shenyangcang.com\\\/analysis\\\/btc\\\/bitcoin-price-falls-60k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.shenyangcang.com\\\/analysis\\\/btc\\\/bitcoin-price-falls-60k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.shenyangcang.com\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/Bitcoin-dips-60k.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.shenyangcang.com\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/Bitcoin-dips-60k.jpg?fit=1792%2C1024\"},\"articleSection\":\"BTC\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/www.shenyangcang.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2024-10-02T02:48:00Z\",\"datePublished\":\"2024-10-02T02:48:00Z\",\"dateModified\":\"2024-10-02T02:48:00Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/shenyangcang.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.shenyangcang.com\/wp-content\/uploads\/2024\/10\/Bitcoin-dips-60k.jpg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/posts\/645831"}],"collection":[{"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/comments?post=645831"}],"version-history":[{"count":1,"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/posts\/645831\/revisions"}],"predecessor-version":[{"id":645834,"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/posts\/645831\/revisions\/645834"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/media\/645833"}],"wp:attachment":[{"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/media?parent=645831"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/categories?post=645831"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/tags?post=645831"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}