{"id":626799,"date":"2024-06-28T02:47:24","date_gmt":"2024-06-28T02:47:24","guid":{"rendered":"https:\/\/uniquehot.com\/?p=626799"},"modified":"2024-06-28T02:47:24","modified_gmt":"2024-06-28T02:47:24","slug":"bitcoin-price-recovery-62400","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-price-recovery-62400\/","title":{"rendered":"Bitcoin Price Recovery: Here Are Challenges On The Road to Rebound"},"content":{"rendered":"<p><em>Bitcoin price is consolidating above the $60,550 support zone. BTC could avoid more downsides if it manages to recover above the $62,400 resistance.<\/em><\/p>\n<ul>\n<li>Bitcoin is still struggling to recover above the $62,200 and $62,400 levels.<\/li>\n<li>The price is trading above $61,500 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break above a major bearish trend line with resistance at $61,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair might start another decline unless there is a close above the $62,400 resistance zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Faces Hurdles<\/h2>\n<p>Bitcoin price struggled to rise above the <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-price-dive-60k\/\" target=\"_blank\" rel=\"noopener \">$62,400 resistance zone<\/a>. BTC again declined below $62,000, but the bulls were able to protect the $60,550 support. The recent high was formed at $62,297 and the price is now consolidating.<\/p>\n<p>Recently, there was a break above a major bearish trend line with resistance at $61,250 on the hourly chart of the BTC\/USD pair. It is trading above the 50% Fib retracement level of the upward move from the $60,580 swing low to the $62,297 high.<\/p>\n<p>Bitcoin price is now trading above $61,500 and the <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-price-rejection-62500\/\" target=\"_blank\" rel=\"noopener \">100 hourly Simple moving average<\/a>. If there is another increase, the price could face resistance near the $62,250 level. The first key resistance is near the $62,400 level.<\/p>\n<figure id=\"attachment_626800\" aria-describedby=\"caption-attachment-626800\" style=\"width: 1024px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/Bitcoin_a2c958.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-626800 size-full\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/Bitcoin_a2c958.png?resize=1024%2C461\" alt=\"Bitcoin Price\" width=\"1024\" height=\"461\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/Bitcoin_a2c958.png?w=1835 1835w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/Bitcoin_a2c958.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/Bitcoin_a2c958.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/Bitcoin_a2c958.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/Bitcoin_a2c958.png?w=1536 1536w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/Bitcoin_a2c958.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/Bitcoin_a2c958.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-626800\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n<p>The next key resistance could be $62,500. A clear move above the $62,500 resistance might start a steady increase and send the price higher. In the stated case, the price could rise and test the $63,500 resistance. Any more gains might send BTC toward the $64,400 resistance in the near term.<\/p>\n<h2>Another Decline In BTC?<\/h2>\n<p>If Bitcoin fails to climb above the $62,400 resistance zone, it could start another decline. Immediate support on the downside is near the $61,450 level and the 100 hourly Simple moving average.<\/p>\n<p>The first major support is $61,150 and the 61.8% Fib retracement level of the upward move from the $60,580 swing low to the $62,297 high. The next support is now forming near $60,550. Any more losses might send the price toward the $58,500 support zone in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $61,150, followed by $60,550.<\/p>\n<p>Major Resistance Levels \u2013 $62,250, and $62,400.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is consolidating above the $60,550 support zone. BTC could avoid more downsides if it manages to recover above the $62,400 resistance. Bitcoin is still struggling to recover above the $62,200 and $62,400 levels. The price is trading above $61,500 and the 100 hourly Simple moving average. There was a break above a major bearish trend line with resistance at $61,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair might start another decline unless there is a close above the $62,400 resistance zone. Bitcoin Price Faces Hurdles Bitcoin price struggled to rise above the $62,400 resistance zone. BTC again declined below $62,000, but the bulls were able to protect the $60,550 support. The recent high was formed at $62,297 and the price is now consolidating. Recently, there was a break above a major bearish trend line with resistance at $61,250 on the hourly chart of the BTC\/USD pair. It is trading above the 50% Fib retracement level of the upward move from the $60,580 swing low to the $62,297 high. Bitcoin price is now trading above $61,500 and the 100 hourly Simple moving average. If there is another increase, the price could face resistance near the $62,250 level. The first key resistance is near the $62,400 level. The next key resistance could be $62,500. A clear move above the $62,500 resistance might start a steady increase and send the price higher. In the stated case, the price could rise and test the $63,500 resistance. Any more gains might send BTC toward the $64,400 resistance in the near term. Another Decline In BTC? If Bitcoin fails to climb above the $62,400 resistance zone, it could start another decline. Immediate support on the downside is near the $61,450 level and the 100 hourly Simple moving average. The first major support is $61,150 and the 61.8% Fib retracement level of the upward move from the $60,580 swing low to the $62,297 high. The next support is now forming near $60,550. Any more losses might send the price toward the $58,500 support zone 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 above the 50 level. Major Support Levels \u2013 $61,150, followed by $60,550. Major Resistance Levels \u2013 $62,250, and $62,400.<\/p>\n","protected":false},"author":67,"featured_media":626801,"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-626799","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":"\n<title>Bitcoin Price Recovery: Here Are Challenges On The Road to Rebound<\/title>\n<meta name=\"description\" content=\"Bitcoin price is consolidating above the $60,550 support zone. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. 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:\/\/uniquehot.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Recovery: Here Are Challenges On The Road to Rebound","url":"http:\/\/uniquehot.com\/analysis\/btc\/bitcoin-price-recovery-62400\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/analysis\/btc\/bitcoin-price-recovery-62400\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/Bitcoin-Recovery-Path.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/Bitcoin-Recovery-Path.jpeg?fit=1792%2C1024"},"articleSection":"BTC","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","btcusd","btcusdt","xbtusd"],"dateCreated":"2024-06-28T02:47:24Z","datePublished":"2024-06-28T02:47:24Z","dateModified":"2024-06-28T02:47:24Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Recovery: Here Are Challenges On The Road to Rebound\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/analysis\\\/btc\\\/bitcoin-price-recovery-62400\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/analysis\\\/btc\\\/bitcoin-price-recovery-62400\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/Bitcoin-Recovery-Path.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/Bitcoin-Recovery-Path.jpeg?fit=1792%2C1024\"},\"articleSection\":\"BTC\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2024-06-28T02:47:24Z\",\"datePublished\":\"2024-06-28T02:47:24Z\",\"dateModified\":\"2024-06-28T02:47:24Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/06\/Bitcoin-Recovery-Path.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/626799"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=626799"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/626799\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/626801"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=626799"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=626799"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=626799"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}