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  • cardanoCardano (ADA) $ 0.482139
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  • avalanche-2Avalanche (AVAX) $ 37.11
  • tronTRON (TRX) $ 0.124273
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 67,074.00
  • polkadotPolkadot (DOT) $ 7.19
  • bitcoin-cashBitcoin Cash (BCH) $ 481.62
  • chainlinkChainlink (LINK) $ 16.18
  • nearNEAR Protocol (NEAR) $ 8.02
  • matic-networkPolygon (MATIC) $ 0.716394
  • litecoinLitecoin (LTC) $ 84.14
  • internet-computerInternet Computer (ICP) $ 13.04
  • fetch-aiFetch.ai (FET) $ 2.35
  • uniswapUniswap (UNI) $ 7.52
  • leo-tokenLEO Token (LEO) $ 5.90
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  • render-tokenRender (RNDR) $ 10.05
  • aptosAptos (APT) $ 8.63
  • wrapped-eethWrapped eETH (WEETH) $ 3,218.23
  • first-digital-usdFirst Digital USD (FDUSD) $ 1.00
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  • mantleMantle (MNT) $ 1.01
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  • rocket-pool-ethRocket Pool ETH (RETH) $ 3,431.15
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  • mantle-staked-etherMantle Staked Ether (METH) $ 3,200.29
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  • quant-networkQuant (QNT) $ 97.63
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  • conflux-tokenConflux (CFX) $ 0.224402
  • roninRonin (RON) $ 2.79
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  • havvenSynthetix Network (SNX) $ 2.68
  • ordinalsORDI (ORDI) $ 41.48
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  • starknetStarknet (STRK) $ 1.16
  • decentralandDecentraland (MANA) $ 0.435529
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 3,096.52
  • ribbon-financeRibbon Finance (RBN) $ 0.820924
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 3,125.32
  • gnosisGnosis (GNO) $ 306.72
  • apecoinApeCoin (APE) $ 1.26
  • lido-staked-solLido Staked SOL (STSOL) $ 203.32
  • heliumHelium (HNT) $ 4.73
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  • pyth-networkPyth Network (PYTH) $ 0.464733
  • axelarAxelar (AXL) $ 1.04
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  • klay-tokenKlaytn (KLAY) $ 0.180737
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  • terra-lunaTerra Luna Classic (LUNC) $ 0.000109
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  • livepeerLivepeer (LPT) $ 19.43
  • frax-etherFrax Ether (FRXETH) $ 3,078.67
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  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 3,315.35
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  • true-usdTrueUSD (TUSD) $ 1.00
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  • iotexIoTeX (IOTX) $ 0.051000
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  • memecoin-2Memecoin (MEME) $ 0.026191
  • dymensionDymension (DYM) $ 2.74
  • enjincoinEnjin Coin (ENJ) $ 0.322318
  • radixRadix (XRD) $ 0.044883
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  • mx-tokenMX (MX) $ 4.73
  • polymeshPolymesh (POLYX) $ 0.441026
  • venomVenom (VENOM) $ 0.281321
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  • 1inch1inch (1INCH) $ 0.397460
  • trust-wallet-tokenTrust Wallet (TWT) $ 1.10
  • ankrAnkr Network (ANKR) $ 0.044987
  • stepnGMT (GMT) $ 0.223109
  • altlayerAltLayer (ALT) $ 0.322959
  • pax-goldPAX Gold (PAXG) $ 2,390.71
  • biconomyBiconomy (BICO) $ 0.563697
  • zilliqaZilliqa (ZIL) $ 0.023874
  • nosanaNosana (NOS) $ 5.25
  • popcatPopcat (POPCAT) $ 0.435025
  • magaMAGA (TRUMP) $ 9.07
  • siacoinSiacoin (SC) $ 0.007306
  • reserve-rights-tokenReserve Rights (RSR) $ 0.008176
  • ravencoinRavencoin (RVN) $ 0.029730
  • terra-luna-2Terra (LUNA) $ 0.596666
  • project-galaxyGalxe (GAL) $ 3.54
  • arcblockArcblock (ABT) $ 4.16
  • holotokenHolo (HOT) $ 0.002292
  • manta-networkManta Network (MANTA) $ 1.62
  • ether-fiEther.fi (ETHFI) $ 3.47
  • amp-tokenAmp (AMP) $ 0.007115
  • paypal-usdPayPal USD (PYUSD) $ 0.998896
  • corgiaiCorgiAI (CORGIAI) $ 0.001159
  • rocket-poolRocket Pool (RPL) $ 19.41
  • zetachainZetaChain (ZETA) $ 1.67
  • compound-governance-tokenCompound (COMP) $ 57.00
  • qtumQtum (QTUM) $ 3.70

Bitcoin Price Downside Thrust Over Or The Bears Are Not Done Yet?

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Bitcoin price started a major decline amid the Israel-Iran tensions. BTC declined toward $60,500 and is currently attempting a recovery wave.

  • Bitcoin is attempting a recovery wave from the $60,500 support zone.
  • The price is trading below $65,500 and the 100 hourly Simple moving average.
  • There is a key rising channel forming with resistance at $65,850 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could gain bullish momentum if it clears the $66,000 resistance zone.

Bitcoin Price Recovery Faces Hurdles

Bitcoin price started a major decline below the $70,000 level. BTC gained bearish momentum amid rising tensions between Israel and Iran. There was a sharp decline below the $66,000 and $65,000 levels.

The price dipped over 10% and even tested the $60,500 support. A low was formed near $60,495 and the price is now attempting a recovery wave. It climbed above the $62,500 and $63,000 levels. There was a move above the 23.6% Fib retracement level of the downward move from the $71,200 swing high to the $60,495 low.

Bitcoin is now trading below $67,000 and the 100 hourly Simple moving average. Immediate resistance is near the $65,800 level. There is also a key rising channel forming with resistance at $65,850 on the hourly chart of the BTC/USD pair. It is close to the 50% Fib retracement level of the downward move from the $71,200 swing high to the $60,495 low.

Bitcoin Price Downside Thrust Over Or The Bears Are Not Done Yet?

Source: BTCUSD on TradingView.com

The first major resistance could be $66,000. The next resistance now sits at $68,000 and the 100 hourly Simple moving average. If there is a clear move above the $68,000 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $70,000. The next major resistance is near the $71,200 zone. Any more gains might send Bitcoin toward the $72,500 resistance zone in the near term.

Another Decline In BTC?

If Bitcoin fails to rise above the $66,850 resistance zone, it could start another decline. Immediate support on the downside is near the $64,500 level.

The first major support is $63,000. If there is a close below $63,000, the price could start to drop toward the $62,000 level. Any more losses might send the price toward the $60,500 support zone in the near term.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $64,500, followed by $63,000.

Major Resistance Levels – $65,850, $66,000, and $68,000.

Source

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