Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»EXCHANGE NEWS»Unless this level is broken, Bitcoin price is poised for a new bounce.
EXCHANGE NEWS

Unless this level is broken, Bitcoin price is poised for a new bounce.

By Crypto FlexsOctober 3, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Unless this level is broken, Bitcoin price is poised for a new bounce.
Share
Facebook Twitter LinkedIn Pinterest Email

This article is also available in Spanish.

Bitcoin price is consolidating above the $60,000 support. BTC could target a fresh increase unless it closes below the $60,000 support.

  • Bitcoin is consolidating above the $60,000 support area.
  • The price is trading below $61,500 and the 100-hour simple moving average.
  • The hourly chart of the BTC/USD pair (data feed from Kraken) shows a major bearish trendline with resistance at $61,550.
  • If it stays above the $60,000 support, the pair could initiate another hike.

Bitcoin price consolidation begins

Bitcoin price extended its decline at $62,350 resistance. BTC broke the $62,000 and $61,500 support levels and moved into near-term bearish territory. The price also dropped below $60,500.

A low was formed at $60,000 and the price is currently consolidating losses. It increased slightly above the $60,500 level. The price broke above the 23.6% Fib retracement level for a downward move from the $62,350 swing high to the $60,000 low.

Bitcoin is currently trading below $61,500 and the 100-hour simple moving average. In case of a fresh price hike, the price may face resistance near the $61,250 level. The first major resistance is near the $61,500 level. The hourly chart of the BTC/USD pair also has a major bearish trendline with resistance at $61,550.

The trend line is close to the 61.8% Fib retracement level moving down from the $62,350 swing high to the $60,000 low. A clear break above the $61,500 resistance could push the price higher. The next major resistance could be $62,500.

Source: TradingView.com BTCUSD

A break above the $62,500 resistance could trigger further upside. If indicated, the price could move higher and test the resistance level of $63,200. Any more profits could push the price down towards the $65,000 resistance level.

Will there be more losses in BTC?

If Bitcoin fails to rise above the $61,500 resistance zone, it may continue to fall. Immediate support for the downside is near the $60,500 level.

The first major support is near the $60,000 level. The next support is now near the $59,200 area. Any more losses could lead the price towards the $58,500 support in the near term.

Technical indicators:

Hourly MACD – MACD is now losing speed in bearish territory.

Hourly Relative Strength Index (RSI) – The RSI for BTC/USD is now below the 50 level.

Key support levels – $60,500, then $60,000.

Key resistance levels – $61,500 and $62,500.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Cardano (ADA) Signal Recovery -Is there a strong rise?

September 15, 2025

The price of Etherrium surges beyond $ 4,500. -Main level for monitoring more profits

September 12, 2025

Bitcoin Price Struggle $ 113K -Will Bulls take a break?

September 9, 2025
Add A Comment

Comments are closed.

Recent Posts

Animation Powerhouse Maggie Kang To Join Programming Lineup

September 18, 2025

MEXC Joins Forces With Lombard Finance (BARD) To Launch $1 Million Prize Pool Extravaganza

September 18, 2025

What is the next after the Fed’s 25bps is cut? Everything you need to know

September 18, 2025

The XRP market value surpasses Shopify, Verizon, and Citigroup. Whales sell 40m coins.

September 18, 2025

Green Hood Contracts Thanksgiving Summary -Ackee Blockchain

September 17, 2025

BetFury Is At SBC Summit Lisbon 2025: Affiliate Growth In Focus

September 17, 2025

FED Mining’s Cloud Mining Platform Is Helping Users Earn $8,800 Per Day, And XRP’s Growth Is Driving Market Enthusiasm.

September 17, 2025

Stablecoin Holdings Drop As Investors Pivot To SOL, XRP, And Altcoins

September 17, 2025

Flipster Partners With WLFI To Advance Global Stablecoin Adoption Through USD1 Integration

September 17, 2025

Zircuit Launches $495K Grants Program To Accelerate Web3 Super Apps

September 16, 2025

Kintsu Launches SHYPE On Hyperliquid

September 16, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Animation Powerhouse Maggie Kang To Join Programming Lineup

September 18, 2025

MEXC Joins Forces With Lombard Finance (BARD) To Launch $1 Million Prize Pool Extravaganza

September 18, 2025

What is the next after the Fed’s 25bps is cut? Everything you need to know

September 18, 2025
Most Popular

Digital Marketing Transformation: Payvertise Leads with NFTs and $PVT Tokens for Transparent and Engaging Advertising Space

January 10, 2024

Polymarket Better Allows Leveraging Betting: Why Some Are Concerned

July 26, 2024

Bitcoin ETF lost $563 million as BlackRock’s IBIT posted its first daily loss.

May 2, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.