Bitcoin Price Recovery: Here Are Challenges On The Road to Rebound

Bitcoin price is consolidating above the $60,550 support zone. BTC could avoid more downsides if it manages to recover above the $62,400 resistance.Bitcoin is still struggling to recover above the $62,200 and $62,400 levels.
The price is trading above $61,500 and the 100 hourly Simple moving average.
There was a break above a major bearish trend line with resistance at $61,250 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair might start another decline unless there is a