Bitcoin Price Turns Red Below $64K But Long-Term Uptrend Intact

Mar 20, 2024 04:00 am Cryptocurrency 54

Bitcoin price extended its decline below the $65,000 support. BTC is now struggling to stay above the $62,000 support zone and might test $60,000.

Bitcoin price is moving lower below the $64,000 support zone.

The price is trading below $63,500 and the 100 hourly Simple moving average.

There is a connecting bearish trend line forming with resistance at $63,300 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair could start a decent upward move if it clears the $65,200 resistance zone in the near term.

Bitcoin Price Grinds Lower

Bitcoin price remained in a short-term bearish zone below the $66,500 zone. BTC traded below the $65,000 and $64,000 support levels to set a new weekly low.

There was a push below the $62,500 support. A low was formed near $61,537 and the price is now consolidating losses. The price is now struggling below the 23.6% Fib retracement level of the recent decline from ..

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