CandleFocus Bitcoin Price Extends Decline: Can $60K Serve as a Lifeline?
2024-10-10
Author: Content Editor
The Bitcoin price continues to decline and has fallen below the $61,850 zone. It is currently holding the $60,000 support but remains at risk of further losses. Bitcoin failed to rally above $63,000 and instead started a new decline, breaking key support levels. It is now consolidating losses, with resistance at $61,200 and $61,250. The next key resistance levels are $62,350 and $63,200. A close above $63,200 could initiate more gains, while failure to rise above the $61,250 resistance could lead to another decline. Immediate support is at $60,300, followed by $60,000 and $59,500. Technical indicators suggest a bearish trend with the MACD gaining pace in the bearish zone and the RSI below 50.
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