Bitcoin price extended losses and traded below the $60,000 zone. BTC is now attempting a recovery wave and facing hurdles near $60,800.
Bitcoin is struggling to start a fresh increase above the $61,200 zone.
The price is trading below $61,000 and the 100 hourly Simple moving average.
There is a key bearish trend line forming with resistance at $60,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could struggle to recover if it stays below the $62,000 resistance zone.
price could face resistance near the $60,800 level. There is also a key bearish trend line forming with resistance at $60,800 on the hourly chart of the BTC/USD pair.
The first key resistance is near the $61,650 level or the 50% Fib retracement level of the downward move from the $64,420 swing high to the $58,888 low. A clear move above the $61,650 resistance might send the price higher. The next key resistance could be $62,000.
