The Bitcoin price is currently consolidating above the $60,000 support level. It recently broke below the $61,200 support level and dipped below $60,000, entering a short-term bearish zone. However, there was a minor increase and the price climbed above the 50% Fibonacci retracement level. It also broke above a key bearish trend line. On the upside, there is resistance near the $61,400 level and if the price clears that, it could face resistance near $61,750. A close above the $62,350 resistance level could initiate more gains. On the downside, immediate support is near $60,450, followed by $60,000. Technical indicators show the MACD losing pace in the bearish zone and the RSI below the 50 level.



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