CandleFocus Bitcoin Price Pauses, Eyeing a Fresh Increase: Can Bulls Deliver?
2024-10-09
Author: Content Editor
The Bitcoin price has experienced a correction and tested the $61,850 zone. It is currently consolidating losses and may aim to surpass the $62,500 resistance. However, if it fails to rise above this level, it could start another decline with immediate support at $62,000. The first major support is at $61,850, followed by $61,200. On the upside, the first key resistance is near $63,150, and a close above $64,200 could initiate further gains towards the $65,000 and $65,500 resistance levels. Technical indicators suggest a bearish trend with the MACD losing pace in the bearish zone and the RSI below the 50 level.
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