Bitcoin broke above the $65,000 level of resistance and gained more than 15%. BTC still shows positive signs, and may attempt to break the $66,000 resistance level.
- Bitcoin’s price has increased above $65,000, the previous resistance zone.
- Price is above the Simple Moving Average of 100 hours and $64,500.
- The hourly chart for the BTC/USD pairs shows a bullish line with support around $63,850. (Data feed by Kraken)
- If it manages to break the resistance of $66,000, then this pair could continue its upward movement.
Bulls In Action, Bitcoin Price Increases.
Bitcoin’s price is still in the a bullish zone Above the resistance levels of $62,500 and $63,500. BTC managed to exceed the $64,000 mark to continue its rise. The bulls even drove the price up to $66,000.
The price has now reached a high of $66,100. Trading is above the level of 23.6% Fib of the upward movement from the swing-low $62,466 up to the $66,100 peak. A key bullish line is also emerging with support of $63,850 at the hourly BTC/USD price chart.
Bitcoin is currently trading at a price of $64,500. 100 hourly Simple moving average. If the market continues on an upward trend, resistance could be found near $66,000. The $66,500 is the first major resistance.
The next session could see more bullish movements if the market clears the resistance of $66,500. In the next session, a clear break above $66,500 could spark a bullish move. next The key resistance is $67,200. Key resistance could be $67,200. next The major obstacle is $68,000. If the price is able to close over the $68,000 barrier, it could push further upwards. The price may rise in the case stated and reach the $70,000 barrier.
Are Dips Supported In BTC?
Bitcoin may start to correct downwards if the resistance level of $66,000 is not overcome. Near the $66,000 mark, there is immediate support for the downside.
First major support at $64,250 is the Fib 50% retracement of the move up from the swing low $62,466 to the high $66,100. The next The trend line and support are now located near $63,650. If the market continues to fall, the support level of $62,500 could be reached in the near future.
Indicators of technical indicators
Hourly MACD – The MACD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.
Major Support Levels – $64,250, followed by $63,850.
Major Resistance Levels – $66,000, and $67,200.
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Source: www.newsbtc.com