The world of cryptocurrency is facing an uncertain trajectory led by Bitcoin. Recently, Bitcoin attempted to break through the $65,000 resistance zone after peaking at $64,450, but the digital currency fell below $60,000, reaching a low of $59,700 before showing signs of a recovery.

Resistance at $62,000 for Bitcoin

Bitcoin is currently below $63,000 and the 100-hour Simple Moving Average, encountering immediate resistance around the $62,000 level. The primary resistance levels to watch are $62,650 and $63,000. Breaking above $63,000 could lead to further upward movement, potentially aiming for $64,500. However, the crucial resistance level remains at $65,000, with a possible push towards $66,500 if Bitcoin continues to gain.

Downward Movement Key Levels for Bitcoin

Failure to surpass the $63,000 resistance zone may trigger a downward wave. The initial support level lies at $60,800, with major support near $60,000. A breach below $60,000 could signal a drop towards $59,200, possibly heading to $58,500 in the short term.

Bitcoin's Technical Indicators

Bitcoin's hourly MACD is losing bearish momentum, and the hourly RSI is below 50 for BTC/USD. Support levels for Bitcoin include $60,800 and $60,000, while resistance levels are at $62,650, $63,000, and $64,500.

The original post can be found on COINTURK NEWS: Bitcoin Faces Key Resistance Levels.