CandleFocus Bitcoin Price Back at Support: Can It Avoid a Breakdown?
2024-10-01
Author: Content Editor
The article discusses the recent decline in the price of Bitcoin. Bitcoin broke through key support levels and entered a short-term bearish zone. It is currently consolidating losses and trading below the 23.6% Fib retracement level. The price is also trading below the 100 hourly Simple moving average. If there is a fresh increase, the price may face resistance near the $63,500 level. The article mentions key resistance levels at $64,500, $65,500, and $66,200. If Bitcoin fails to rise above the $63,500 resistance, it could continue to move down with immediate support at the $63,000 level. The article concludes by mentioning major support levels at $62,850, $62,500, and $61,200.
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