Bitcoin worth holding good points above the $67,000 resistance zone. BTC is now consolidating and aiming for extra good points above the $68,350 resistance.
- Bitcoin remained secure and prolonged good points above the $67,500 zone.
- The worth is buying and selling above $67,400 and the 100 hourly Simple shifting common.
- There is a key bullish development line forming with help at $67,400 on the hourly chart of the BTC/USD pair (knowledge feed from Kraken).
- The pair may rally additional if there’s a shut above the $68,200 resistance zone.
Bitcoin Price Eyes More Upsides
Bitcoin worth remained supported above the $67,000 pivot zone. BTC remained in a spread and the bulls have been lively above the $66,500 stage. There was a minor pullback from the final excessive of $68,328.
The worth declined under the $67,000 stage. There was a drop under the 23.6% Fib retracement stage of the upward transfer from the $64,685 swing low to the $68,328 excessive. However, the bulls have been lively above the $66,500 stage. There can be a key bullish development line forming with help at $67,400 on the hourly chart of the BTC/USD pair.
Bitcoin worth is now buying and selling above $67,200 and the 100 hourly Simple moving average. On the upside, the value may face resistance close to the $68,000 stage. The first key resistance is close to the $68,200 stage. A transparent transfer above the $68,200 resistance would possibly ship the value larger. The subsequent key resistance may very well be $68,850.
A detailed above the $68,850 resistance would possibly provoke extra good points. In the acknowledged case, the value may rise and check the $71,650 resistance stage. Any extra good points would possibly ship the value towards the $72,000 resistance stage.
Another Drop In BTC?
If Bitcoin fails to rise above the $68,000 resistance zone, it may begin one other decline. Immediate help on the draw back is close to the $67,200 stage and the development line.
The first main help is close to the $66,500 stage and the 50% Fib retracement stage of the upward transfer from the $64,685 swing low to the $68,328 excessive. The subsequent help is now close to the $66,000 zone. Any extra losses would possibly ship the value towards the $65,500 help 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 – $67,200, adopted by $66,500.
Major Resistance Levels – $68,000, and $68,200.
