{"id":178486,"date":"2026-06-11T03:09:33","date_gmt":"2026-06-11T03:09:33","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=178486"},"modified":"2026-06-11T03:09:33","modified_gmt":"2026-06-11T03:09:33","slug":"bitcoin-price-hovers-above-60k-as-traders-search-for-direction","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=178486","title":{"rendered":"Bitcoin Price Hovers Above $60K As Traders Search For Direction"},"content":{"rendered":"

Bitcoin price started a fresh decline below the $62,500 zone. BTC is showing bearish signs and might continue to move down if it dips below $61,200.<\/em><\/p>\n

Bitcoin failed to stay above $63,200 and extended losses.
\nThe price is trading below $62,500 and the 100 hourly simple moving average.
\nThere is a bearish trend line forming with resistance near $62,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair might extend losses if it stays below the $62,500 and $63,500 levels.<\/p>\n

Bitcoin Price Dips Toward Support<\/h2>\n

Bitcoin price failed to stay above the $63,500 support zone<\/a>. BTC remained in a bearish zone and extended losses below the $63,200 level. There was a move below the $62,500 level.<\/p>\n

The price even dipped below $61,200. A low was formed at $60,746 and the price is still showing many bearish signs. There was a minor increase above the 23.6% Fib retracement level of the downward move from the $64,613 swing high to the $60,746 low.<\/p>\n

Bitcoin is now trading below $62,500 and the 100 hourly simple moving average<\/a>. There is also a bearish trend line forming with resistance near $62,400 on the hourly chart of the BTC\/USD pair.<\/p>\n

If the price remains stable above $60,750, it could attempt a fresh increase. Immediate resistance is near the $62,500 level and the trend line. The first key resistance is near the $63,200 level or the 61.8% Fib retracement level of the downward move from the $64,613 swing high to the $60,746 low.<\/p>\n

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

A close above the $63,200 resistance might send the price further higher. In the stated case, the price could rise and test the $63,500 resistance. Any more gains might send the price toward the $64,500 level. The next barrier for the bulls could be $65,000.<\/p>\n

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

If Bitcoin fails to rise above the $63,200 resistance zone, it could start another decline. Immediate support is near the $61,650 level.<\/p>\n

The first major support is near the $61,200 level. The next support is now near the $60,750 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 losing pace in the bearish zone.<\/p>\n

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

Major Support Levels \u2013 $61,650, followed by $61,200.<\/p>\n

Major Resistance Levels \u2013 $62,500 and $63,500.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price started a fresh decline below the $62,500 zone. BTC is showing bearish signs and might continue to move down if it dips below $61,200. Bitcoin failed to stay above $63,200 and extended losses. The price is trading below $62,500 and the 100 hourly simple moving average. There is a bearish trend line forming […]<\/p>\n","protected":false},"author":0,"featured_media":178487,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-178486","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\/178486"}],"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=178486"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/178486\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/178487"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=178486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=178486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=178486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}