Bitcoin worth gained over 15% and broke the $65,000 resistance stage. BTC continues to be exhibiting optimistic indicators and may try to maneuver above the $66,000 stage.
- Bitcoin prolonged its improve above the $65,000 resistance zone.
- The worth is buying and selling above $64,500 and the 100 hourly Simple shifting common.
- There is a key bullish development line forming with help at $63,850 on the hourly chart of the BTC/USD pair (knowledge feed from Kraken).
- The pair may proceed to maneuver up if it breaks the $66,000 resistance.
Bitcoin Price Extends Increase, Bulls In Action
Bitcoin worth remained in a bullish zone above the $62,500 and $63,500 resistance ranges. BTC was in a position to surpass the $64,000 stage to increase its improve. The bulls even pushed the worth towards the $66,000 zone.
A excessive was shaped at $66,100 and the worth is now consolidating features. It is buying and selling properly above the 23.6% Fib retracement stage of the upward transfer from the $62,466 swing low to the $66,100 excessive. There can also be a key bullish development line forming with help at $63,850 on the hourly chart of the BTC/USD pair.
Bitcoin worth is now buying and selling above $64,500 and the 100 hourly Simple moving average. If there’s an upside continuation, the worth may face resistance close to the $66,000 stage. The first key resistance is close to the $66,500 stage.
A transparent transfer above the $66,500 resistance may spark extra bullish strikes within the coming periods. The subsequent key resistance could possibly be $67,200. The subsequent main hurdle sits at $68,000. A detailed above the $68,000 resistance may push the worth additional greater. In the acknowledged case, the worth may rise and take a look at the $70,000 resistance.
Are Dips Supported In BTC?
If Bitcoin fails to climb above the $66,000 resistance zone, it may begin a draw back correction. Immediate help on the draw back is close to the $66,000 stage.
The first main help is $64,250 and the 50% Fib retracement stage of the upward transfer from the $62,466 swing low to the $66,100 excessive. The subsequent help is now close to $63,650 and the development line. Any extra losses may ship the worth towards the $62,500 help zone within the close to time period.
Technical indicators:
Hourly MACD – The MACD is now gaining tempo within the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 stage.
Major Support Levels – $64,250, adopted by $63,850.
Major Resistance Levels – $66,000, and $67,200.
