Bitcoin

Resistance

Bitcoin price is gaining momentum above the $62,000 resistance. BTC is signaling an upside break and might surge toward the $65,000 resistance. 
<ul> 
 <li>Bitcoin price is moving higher from the $61,200 support zone.</li> 
 <li>The price is trading above $62,500 and the 100 hourly Simple moving average.</li> 
 <li>There was a break above a key bearish trend line with resistance at $62,300 on the hourly chart of the BTC/USD pair (data feed from Kraken).</li> 
 <li>The pair could accelerate higher toward the $65,000 resistance or even $65,730.</li> 
</ul> 
<h2 id="bitcoin-price-regains-strength">Bitcoin Price Regains Strength</h2> 
Bitcoin price remained well-bid above the $60,000 support zone. A base was formed, and the price started a <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-turns-attractive-60k/" target="_blank" rel="noopener ">fresh increase</a> above the $62,000 resistance. 
There was a break above a key bearish trend line with resistance at $62,300 on the hourly chart of the BTC/USD pair. The pair even cleared the 76.4% Fib retracement level of the downward move from the $63,583 swing high to the $60,108 low. 
Bitcoin is now trading above $62,500 and the 100 hourly Simple moving average. Immediate resistance is near the $63,800 level. The next key resistance could be $64,500, above which the price could rise toward the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-uptrend-70k/" target="_blank" rel="noopener ">$65,000 resistance zone</a>. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/03/Bitcoin_505ba6.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-596073" src="https://www.newsbtc.com/wp-content/uploads/2024/03/Bitcoin_505ba6.png?resize=1024%2C461" alt="Bitcoin Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/03/Bitcoin_505ba6.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/03/Bitcoin_505ba6.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/03/Bitcoin_505ba6.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/03/Bitcoin_505ba6.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/03/Bitcoin_505ba6.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/03/Bitcoin_505ba6.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/03/Bitcoin_505ba6.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/BTCUSD/" target="_blank" rel="noopener nofollow">BTCUSD on TradingView.com</a> 
If the bulls remain in action, the price could even surpass $65,000 and test $65,500. Any more gains might send the price toward the 1.618 Fib extension level of the downward move from the $63,583 swing high to the $60,108 low at $65,730. 
<h2 id="are-dips-supported-in-btc">Are Dips Supported In BTC?</h2> 
If Bitcoin fails to rise above the $64,000 resistance zone, it could start another downside correction. Immediate support on the downside is near the $62,750 level. 
The first major support is $62,250 or the 100 hourly SMA. If there is a close below $62,250, the price could start a decent pullback toward the $61,000 zone. Any more losses might send the price toward the $60,000 support zone. 
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 – $62,750, followed by $62,250. 
Major Resistance Levels – $63,800, $65,000, and $65,730.

Bitcoin Price Restarts Rally, Why BTC Could Soon Hit $65K

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