Bitcoin Price Remains at Risk Despite Recent Moves, Indicators Turn Bearish

Bitcoin worth prolonged its losses and traded under the $64,500 stage. BTC is correcting losses, however the bears are nonetheless in management and purpose for extra losses.

• Bitcoin remained in a bearish zone and traded under $64,500.
• The worth is buying and selling under $65,500 and the 100 hourly Easy shifting common.
• There’s a connecting development line forming with resistance at $65,400 on the hourly chart of the BTC/USD pair (information feed from Kraken).
• The pair stays liable to extra downsides under the $64,000 help zone.

Bitcoin Worth Dips Additional

Bitcoin worth remained in a bearish zone after it settled under the $66,500 resistance zone. BTC prolonged losses and traded under the $65,000 stage. There was additionally a dip under $64,500.

A low was shaped at $64,050 and the value is now correcting losses. There was a minor restoration above the $64,500 stage. The worth climbed above the 23.6% Fib retracement stage of the downward wave from the $67,255 swing excessive to the $64,050 low.

Bitcoin is now buying and selling under $65,500 and the 100 hourly Easy shifting common. There’s additionally a connecting development line forming with resistance at $65,400 on the hourly chart of the BTC/USD pair.

On the upside, the value is going through resistance close to the $65,500 stage and the development line. The primary main resistance might be $65,650 or the 50% Fib retracement stage of the downward wave from the $67,255 swing excessive to the $64,050 low. The following key resistance might be $66,000.

A transparent transfer above the $66,000 resistance may begin an honest improve and ship the value increased. Within the acknowledged case, the value may rise and check the $66,500 resistance. Any extra features may ship BTC towards the $67,500 resistance within the close to time period.

Extra Losses In BTC?

If Bitcoin fails to climb above the $65,400 resistance zone, it may begin one other decline. Quick help on the draw back is close to the $64,800 stage.

The primary main help is $64,200. The following help is now forming close to $64,000. Any extra losses may ship the value towards the $63,200 help zone within the close to time period.

Technical indicators:

Hourly MACD – The MACD is now dropping tempo within the bearish zone.

Hourly RSI (Relative Power Index) – The RSI for BTC/USD is now close to the 50 stage.

Main Help Ranges – $64,500, adopted by $64,000.

Main Resistance Ranges – $65,400, and $66,000.