Bitcoin worth gained over 10% and broke the $64,000 resistance stage. BTC is displaying optimistic indicators and would possibly try to maneuver above the $65,000 stage.
- Bitcoin gained bullish momentum above the $63,500 resistance zone.
- The worth is buying and selling above $63,500 and the 100 hourly Simple shifting common.
- There is a significant bullish development line forming with assist at $62,200 on the hourly chart of the BTC/USD pair (knowledge feed from Kraken).
- The pair would possibly proceed to maneuver up if it breaks the $65,000 resistance.
Bitcoin Price Jumps 10%
Bitcoin worth began a major increase above the $61,500 and $62,000 resistance ranges. BTC even cleared the $63,500 resistance to maneuver additional right into a optimistic zone. The bulls pushed the worth towards the $65,000 zone.
A excessive was fashioned at $64,900 and the worth is now consolidating good points. It is buying and selling effectively above the 23.6% Fib retracement stage of the upward transfer from the $62,320 swing low to the $64,900 excessive. There can also be a significant bullish development line forming with assist at $62,200 on the hourly chart of the BTC/USD pair.
Bitcoin worth is now buying and selling above $64,000 and the 100 hourly Simple moving average. If there may be an upside continuation, the worth may face resistance close to the $64,800 stage. The first key resistance is close to the $65,000 stage.
A transparent transfer above the $65,000 resistance would possibly begin a good improve within the coming periods. The subsequent key resistance may very well be $66,200. The subsequent main hurdle sits at $66,500. An in depth above the $66,500 resistance would possibly begin a gentle improve and ship the worth greater. In the acknowledged case, the worth may rise and check the $67,000 resistance.
Are Dips Limited In BTC?
If Bitcoin fails to climb above the $65,000 resistance zone, it may begin a draw back correction. Immediate assist on the draw back is close to the $64,250 stage.
The first main assist is $63,650 and the 50% Fib retracement stage of the upward transfer from the $62,320 swing low to the $64,900 excessive. The subsequent assist is now close to $62,500. Any extra losses would possibly ship the worth towards the $61,500 assist 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 $63,650.
Major Resistance Levels – $65,000, and $66,200.
