{"id":175128,"date":"2026-06-05T02:30:08","date_gmt":"2026-06-05T02:30:08","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=175128"},"modified":"2026-06-05T02:30:08","modified_gmt":"2026-06-05T02:30:08","slug":"bitcoin-price-pain-isnt-over-yet-as-selling-pressure-persists","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=175128","title":{"rendered":"Bitcoin Price Pain Isn\u2019t Over Yet As Selling Pressure Persists"},"content":{"rendered":"

Bitcoin price started a fresh decline below the $65,000 zone. BTC is showing bearish signs and might continue to move down if it dips below $62,000.<\/em><\/p>\n

Bitcoin failed to stay above $65,500 and extended losses.
\nThe price is trading below $64,000 and the 100 hourly simple moving average.
\nThere is a bearish trend line forming with resistance near $63,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair might extend losses if it stays below the $65,000 and $65,500 levels.<\/p>\n

Bitcoin Price Extends Losses<\/h2>\n

Bitcoin price failed to stay above the $66,500 support zone<\/a>. BTC remained in a bearish zone and extended losses below the $65,000 level. There was a move below the $64,000 level.<\/p>\n

The price even dipped below $62,500. A low was formed at $61,255 and the price is still showing many bearish signs. It is below the 23.6% Fib retracement level of the downward move from the $74,070 swing high to the $61,255 low.<\/p>\n

Bitcoin is now trading below $64,000 and the 100 hourly simple moving average. If the price remains stable above $61,200, it could attempt a fresh increase. Immediate resistance<\/a> is near the $63,200 level. There is also a bearish trend line forming with resistance near $63,200 on the hourly chart of the BTC\/USD pair.<\/p>\n

The first key resistance is near the $64,000 level. A close above the $64,000 resistance might send the price further higher. In the stated case, the price could rise and test the $65,500 resistance.<\/p>\n

<\/a><\/p>\n

Any more gains might send the price toward the $65,500 level. The next barrier for the bulls could be $67,650 or the 50% Fib retracement level of the downward move from the $74,070 swing high to the $61,255 low.<\/p>\n

More Losses In BTC?<\/h2>\n

If Bitcoin fails to rise above the $64,000 resistance zone, it could start another decline. Immediate support is near the $62,000 level.<\/p>\n

The first major support is near the $61,200 level. The next support is now near the $60,800 zone. Any more losses might send the price toward the $60,200 support in the near term. The main support now sits at $60,000, below which BTC might struggle to recover in the near term.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n

Major Support Levels \u2013 $62,000, followed by $61,200.<\/p>\n

Major Resistance Levels \u2013 $64,000 and $65,500.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price started a fresh decline below the $65,000 zone. BTC is showing bearish signs and might continue to move down if it dips below $62,000. Bitcoin failed to stay above $65,500 and extended losses. The price is trading below $64,000 and the 100 hourly simple moving average. There is a bearish trend line forming […]<\/p>\n","protected":false},"author":0,"featured_media":175129,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-175128","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/175128"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=175128"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/175128\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/175129"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=175128"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=175128"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=175128"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}