Bitcoin's price has experienced fluctuations in recent times. It found support at the $60,600 mark and showed signs of recovery. To continue its upward trajectory, Bitcoin will need to surpass the $63,200 resistance level. Let's analyze the important levels to monitor for Bitcoin.

Bitcoin's Support at $60,600

Recent data suggests that Bitcoin received support around $60,600, leading to a wave of recovery. Currently, the price is hovering around $62,800.

After dropping below $62,000 and $61,200, Bitcoin experienced a minor correction with bulls reemerging near the $60,600 mark. The price surged above the resistance levels at $61,200 and $62,000.

Moving forward, Bitcoin is anticipated to trade near $63,000, with immediate resistance at $63,000, followed by larger barriers at $63,200 and $64,000.

The crucial resistance level is identified at $64,350. A clear breakthrough above this level could propel the price to higher levels. The primary resistance remains at $65,500. Surpassing this level could lead to further price increases, possibly reaching $67,500.

Potential Downward Movement for BTC

In the case that Bitcoin fails to breach the $63,200 resistance area, attention should be paid to key support levels in case of a downturn. The immediate support for the BTC/USD pair is positioned around $62,400.

If the price sustains a decline below this level, it might retreat towards $61,200, with a significant support zone at $62,000. A close below $62,000 could drive the price towards the $60,600 support area.

Additionally, certain technical indicators should be observed for insights. For instance, the hourly MACD indicator is showing upward momentum in the bullish zone, indicating a potential short-term price recovery. Moreover, the hourly RSI for the BTC/USD pair is above the 50 level, signaling possible resistance ahead.

The original post can be found on COINTURK NEWS: Bitcoin Sees Support at $60,600 and Aims for Higher Resistance Levels.