Bitcoin

Resistance

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoins-chance-to-reach-18000-before-may/" data-wpel-link="internal">Bitcoin’s Chance to Reach $18,000 Before May</a><br></p>
<p style="text-align: justify"><strong><a href="https://coin-turk.com/bitcoinin-mayis-oncesi-18-000-dolar-olma-sansi-var-mi" data-wpel-link="internal">Bitcoin</a></strong> price has recently tested the $65,000 support zone. The <a href="https://coin-turk.com/coinshares-raporu-bitcoin-satan-kurumsal-yatirimcilar-bu-4-altcoin-aliyor" data-wpel-link="internal">cryptocurrency</a> <a href="https://coin-turk.com/twitter-ceosunun-sirketinden-bitcoin-btc-icin-mujdeli-haber" data-wpel-link="internal">BTC</a> is currently on the rise. It looks like it will try a new increase above the $70,000 resistance area in the near term. Let’s take a look at <a href="https://en.coin-turk.com/bitcoins-prediction-of-one-million-dollars-famous-figures-comments-on-btc-and-war/" data-wpel-link="internal">BTC</a>‘s current situation and price movements.</p> 
<h2 style="text-align: justify" id="bitcoin-price-shows-signs-of-rising">Bitcoin Price Shows Signs of Rising</h2> 
<p style="text-align: justify">After the recent drop, the <a href="https://en.coin-turk.com/approximately-7-7-million-btc-may-be-inaccessible/" data-wpel-link="internal">Bitcoin</a> price is showing some positive signs from the $65,000 region. However, the price is still trading below $70,000 and the 100-hour Simple Moving Average.</p> 
<p style="text-align: justify"><strong>BTC</strong>/USD pair’s hourly chart experienced a breakout above a major declining trend line with resistance at $67,100. This indicates that the pair could gain upward momentum if it surpasses the $70,000 resistance area in the near term.</p> 
<p style="text-align: justify">The Bitcoin price tested the $65,000 support zone during the last decline wave. The price holding at this level indicates the bulls’ return to the market. However, the price is still trading below $70,000 and needs to close above this level.</p> 
<h2 style="text-align: justify" id="resistance-and-support-levels-for-btc">Resistance and Support Levels for BTC</h2> 
<p style="text-align: justify">The breakout above the $67,100 resistance level on the BTC/USD pair’s hourly chart suggests that the price could make an upward move in the near term. However, the price still needs to surpass the $70,000 resistance area, which could be challenging.</p> 
<p style="text-align: justify">Immediate resistance levels are set at $69,200 and $70,000. If the price exceeds these levels, a rise towards the $71,200 resistance area could be possible. However, a close below the $70,000 resistance area could expose the price to further decline potential.</p> 
<p style="text-align: justify">Critical support levels for Bitcoin are identified as $66,500 and $65,000. If the price falls below these levels, further losses could occur, and the price could retreat to levels as low as $64,500 or even $63,500.</p> 
<h2 style="text-align: justify" id="what-do-technical-indicators-suggest">What Do Technical Indicators Suggest?</h2> 
<p style="text-align: justify">Technical indicators show that the hourly <strong>MACD</strong> is losing momentum in the bearish zone. However, the hourly RSI is still above the 50 level, which indicates that a recovery in price could occur.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-329444 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/btcusdt-coin-turk-com-.png" alt="" width="1814" height="836"></p> 
<p style="text-align: justify">At this stage, the <strong>Bitcoin price</strong> is trying a new increase above the $70,000 resistance area in the near term. However, more strong buying may be needed for the price to surpass this level.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoins-chance-to-reach-18000-before-may/" data-wpel-link="internal">Bitcoin’s Chance to Reach $18,000 Before May</a></h5>

Bitcoin’s Chance to Reach $18,000 Before May

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