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{"id":475512,"date":"2021-11-05T04:38:48","date_gmt":"2021-11-05T04:38:48","guid":{"rendered":"https:\/\/uniquehot.com\/?p=475512"},"modified":"2024-06-11T14:00:05","modified_gmt":"2024-06-11T14:00:05","slug":"bitcoin-stable-62k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-stable-62k\/","title":{"rendered":"Bitcoin Stable, Why BTC Could Aim Fresh Rally To $65K"},"content":{"rendered":"

Bitcoin price started a downside correction below $63,500 against the US Dollar. BTC must surpass $62,500 to start a fresh increase in the near term.<\/em><\/p>\n

\n
Bitcoin is facing resistance near the $62,500 and $63,000 levels.<\/li>\n
The price is now trading above $62,000 and the 100 hourly simple moving average.<\/li>\n
There is a key bearish trend line forming with resistance near $62,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could start a fresh rally if there is a clear break above $62,500.<\/li>\n<\/ul>\n
Bitcoin Price Faces Resistance<\/h2>\n
Bitcoin price started a downside correction below the $62,500 and $62,250 levels. BTC declined below $62,000 and the 100 hourly simple moving average<\/a>.<\/p>\n
It tested the $60,600 zone. A low is formed near $60,644 and the price is now correcting higher. There was a break above the $61,500 resistance zone. Bitcoin surpassed the 23.6% Fib retracement level of the recent decline from the $64,325 swing high to $60,644 low.<\/p>\n
It is now trading above $62,000 and the 100 hourly simple moving average. On the upside, an immediate resistance is near the $62,250 level. There is also a key bearish trend line forming with resistance near $62,250 on the hourly chart of the BTC\/USD pair.<\/p>\n
The first major resistance<\/a> is near the $62,500 level. It is near the 76.4% Fib retracement level of the recent decline from the $64,325 swing high to $60,644 low.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
A clear break above $62,500 resistance may possibly call open the doors for a fresh rally. The next major resistance sits near the $63,500 level. Any more gains might lead the price towards the $64,000 level.<\/p>\n
Fresh Dip In BTC?<\/h2>\n
If bitcoin fails to clear the $62,500 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $62,000 level.<\/p>\n
The first major support is now forming near the $61,500 level. A clear close below the $61,500 support could open the doors for a move towards the $60,500 level. The main breakdown support is near $60,000, below which the price could accelerate losses.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is slowly gaining 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 $61,500, followed by $60,500.<\/p>\n
Major Resistance Levels \u2013 $62,250, $62,500 and $63,500.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price started a downside correction below $63,500 against the US Dollar. BTC must surpass $62,500 to start a fresh increase in the near term. Bitcoin is facing resistance near the $62,500 and $63,000 levels. The price is now trading above $62,000 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $62,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a fresh rally if there is a clear break above $62,500. Bitcoin Price Faces Resistance Bitcoin price started a downside correction below the $62,500 and $62,250 levels. BTC declined below $62,000 and the 100 hourly simple moving average. It tested the $60,600 zone. A low is formed near $60,644 and the price is now correcting higher. There was a break above the $61,500 resistance zone. Bitcoin surpassed the 23.6% Fib retracement level of the recent decline from the $64,325 swing high to $60,644 low. It is now trading above $62,000 and the 100 hourly simple moving average. On the upside, an immediate resistance is near the $62,250 level. There is also a key bearish trend line forming with resistance near $62,250 on the hourly chart of the BTC\/USD pair. The first major resistance is near the $62,500 level. It is near the 76.4% Fib retracement level of the recent decline from the $64,325 swing high to $60,644 low. Source: BTCUSD on TradingView.com A clear break above $62,500 resistance may possibly call open the doors for a fresh rally. The next major resistance sits near the $63,500 level. Any more gains might lead the price towards the $64,000 level. Fresh Dip In BTC? If bitcoin fails to clear the $62,500 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $62,000 level. The first major support is now forming near the $61,500 level. A clear close below the $61,500 support could open the doors for a move towards the $60,500 level. The main breakdown support is near $60,000, below which the price could accelerate losses. Technical indicators: Hourly MACD \u2013 The MACD is slowly gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $61,500, followed by $60,500. Major Resistance Levels \u2013 $62,250, $62,500 and $63,500.<\/p>\n","protected":false},"author":67,"featured_media":463052,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1144,78790,76835],"class_list":["post-475512","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nBitcoin Stable, Why BTC Could Aim Fresh Rally To $65K<\/title>\n<meta name=\"description\" content=\"Bitcoin price started a downside correction below $63,500 against the US Dollar. 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