Bitcoin Price Grinds Lower As Bears Aim For New Monthly Low

Apr 29, 2024 04:00 am Cryptocurrency 285

Bitcoin price struggled to settle above the $65,000 zone. BTC is again moving lower and there is a risk of more downsides below $62,000.

Bitcoin started another decline after it failed to surpass the $64,000 resistance zone.

The price is trading below $64,500 and the 100 hourly Simple moving average.

There is a key bearish trend line forming with resistance at $63,350 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair could accelerate lower if there is a daily close below the $62,400 support zone.

Bitcoin Price Dives Again

Bitcoin price attempted a fresh increase above the $64,000 zone. However, BTC failed to gain pace for a move above the $65,000 resistance zone. A high was formed at $64,301 and the price started another decline.

There was a move below the $63,800 level. The price declined below the 50% Fib retracement level of the upward move from the $62,408 swing low to ..

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