Bitcoin price gained over 15% and broke the $65,000 resistance level. BTC is still showing positive signs and might attempt to move above the $66,000 level.
Bitcoin extended its increase above the $65,000 resistance zone.
The price is trading above $64,500 and the 100 hourly Simple moving average.
There is a key bullish trend line forming with support at $63,850 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair might continue to move up if it breaks the $66,000 resistance.
Bitcoin price remained in a bullish zone above the $62,500 and $63,500 resistance levels. BTC was able to surpass the $64,000 level to extend its increase. The bulls even pushed the price toward the $66,000 zone.
A high was formed at $66,100 and the price is now consolidating gains. It is trading well above the 23.6% Fib retracement level of the upward move from the $62,466 swing low to the $66,100 high. There is also a key bullish trend line forming with support at $63,850 on the hourly chart of the BTC/USD pair.
Bitcoin price is now trading above $64,500 and the 100 hourly Simple moving average. If there is an upside continuation, the price could face resistance near the $66,000 level. The first key resistance is near the $66,500 level.
A clear move above the $66,500 resistance might spark more bullish moves in the coming sessions. The next key resistance could be $67,200. The next major hurdle sits at $68,000. A close above the $68,000 resistance might push the price further higher. In the stated case, the price could rise and test the $70,000 resistance.
If Bitcoin fails to climb above the $66,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $66,000 level.
The first major support is $64,250 and the 50% Fib retracement level of the upward move from the $62,466 swing low to the $66,100 high. The next support is now near $63,650 and the trend line. Any more losses might send the price toward the $62,500 support zone in the near term.
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.
[#item_full_content]NewsBTCRead MoreBitcoin (BTC) pared last week’s gains with a price drop from $98,500 to as low…
Howard Lutnick, chairman of Wall Street trading firm Cantor Fitzgerald, is in discussions with Tether's…
MicroStrategy's (MSTR) bitcoin (BTC) treasury model is unparalleled and the company is expected to attract…
The crypto market should see a pick up in volatility at the end of this…
Bitcoin Development Company MicroStrategy (MSTR) added 55,500 of the largest cryptocurrency for $5.4 billion, bringing…
Starting next Monday, First Mover Americas will become Crypto Daybook Americas, your new morning briefing…
