Connect with us

Hi, what are you looking for?

Smart Success Strategy – Investing and Stock NewsSmart Success Strategy – Investing and Stock News

Economy

Bitcoin price below $61000 for the first time in two weeks

Bitcoin price below $61000 for the first time in two weeks

This morning, Bitcoin’s price fell to $60,760, forming a new two-week low. 

Bitcoin chart analysis

This morning, Bitcoin’s price fell to $60,760, forming a new two-week low. During the weekend, the price tested support at $65,000 but managed to hold above and climb up to the $68,900 level. There, we encounter the EMA200 moving average, which does not allow us to move above it.

This led to a new bearish consolidation yesterday and a price drop below $67,000. We continued to retreat below the weekend support at $65,000, descending to a new low of $61,897. After that, we saw an attempt to consolidate in that zone, but we didn’t have the strength to start a recovery. A new price drop occurred, forming a new weekly low of $60760.

Is Bitcoin going below $60000, or will it manage to gain support?

Potential lower targets are the $60500 and $60000 levels. We managed to get support at that level and return above the $61000 level. Now, we see a good bullish impulse pushing us to the $63100 level. If we manage to hold above $63000, we will have the opportunity to initiate a bullish consolidation and recovery of Bitcoin.

By returning above $64,000 and testing the $65,000 level, we would get good indications of a return to the bullish side. In the zone around $64000, we come across the EMA50 moving average. Then, we need to maintain above or in the zone around $65,000 to form a bottom, from which we would have the opportunity for further recovery with a new impulse. Potential higher targets are the $66000 and $67000 levels. In the zone around $67000, we meet the EMA200 moving average again.

The post Bitcoin price below $61000 for the first time in two weeks appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Latest News, And Articles.



    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    The energy revolution is here to stay, and electric vehicles (EVs) have become part of the mainstream narrative. Despite geopolitical tensions and uncertainty, the...

    Editor's Pick

    Overview Mexico’s Sinaloa state hosts a number of prolific silver and gold mines, including McEwen Mining’s (TSX:MUX) El Gallo Complex, Americas Gold and Silver’s...

    Editor's Pick

    Uranium is an important energy sector commodity, and its rising value has attracted investor interest. 2023 has seen uranium prices solidly above the important...

    Investing

    A new survey shows that the presidential race between former President Donald Trump and President Biden is thin, but Biden faces a deficit in...

    Disclaimer: smartsuccessstrategy.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 smartsuccessstrategy.com