Bitcoin Price Downside Thrust Over Or The Bears Are Not Done Yet?

Apr 15, 2024 04:00 am Cryptocurrency 59

Bitcoin price started a major decline amid the Israel-Iran tensions. BTC declined toward $60,500 and is currently attempting a recovery wave.

Bitcoin is attempting a recovery wave from the $60,500 support zone.

The price is trading below $65,500 and the 100 hourly Simple moving average.

There is a key rising channel forming with resistance at $65,850 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair could gain bullish momentum if it clears the $66,000 resistance zone.

Bitcoin Price Recovery Faces Hurdles

Bitcoin price started a major decline below the $70,000 level. BTC gained bearish momentum amid rising tensions between Israel and Iran. There was a sharp decline below the $66,000 and $65,000 levels.

The price dipped over 10% and even tested the $60,500 support. A low was formed near $60,495 and the price is now attempting a recovery wave. It climbed above the $62,500 and $63,000 levels. There was a move above the 23.6% ..

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