Bitcoin Price Poised for Recovery: Will the Uptrend Continue? ๐Ÿ˜ฑ๐Ÿ”ฅ๐Ÿ“ˆ๐Ÿ“Š๐Ÿš€#WeAreAllSatoshi

Bitcoin price extended its decline below the $61,200 support. BTC broke the $60,500 and $60,200 support levels to move into a short-term bearish zone. It even declined below $60,000. ๐Ÿ”ฅ๐Ÿ”ฅ

A bottom was formed at $59,850 and now the price is stabilizing and trimming losses. There was a slight rise above the $60,450 level. The price climbed above the 50% Fib retracement level of the downward move from the $62,350 high to the $59,850 low. ๐Ÿ”ฅ๐Ÿ”ฅ

The price could face resistance near the $61,400 level. The first major resistance is near the $61,750 level or the 76.4% Fib retracement level of the downside move from the $62,350 high to $59,850 low. A clear break above the $61,750 resistance could push the price higher. The next major resistance could be $62,350. ๐Ÿ”ฅ๐Ÿ”ฅ

A close above the $62,350 resistance could indicate further gains. In this case, the price could rally to test the $62,850 resistance level. Any additional gains could push the price towards the $63,200 resistance level.๐Ÿ”ฅ๐Ÿ”ฅ$BTC