Bitcoin

Resistance

Bitcoin price climbed above the $66,000 resistance zone and started consolidation. BTC is now eyeing the next move above the $67,200 resistance zone. 
<ul> 
 <li>Bitcoin is eyeing a decent increase above the $67,200 resistance zone.</li> 
 <li>The price is trading above $65,500 and the 100 hourly Simple moving average.</li> 
 <li>There is a connecting bullish trend line forming with support at $65,900 on the hourly chart of the BTC/USD pair (data feed from Kraken).</li> 
 <li>The pair could gain bullish momentum if it clears the $67,200 resistance zone.</li> 
</ul> 
<h2 id="bitcoin-price-eyes-more-upsides">Bitcoin Price Eyes More Upsides</h2> 
Bitcoin price started a <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-extends-increase-67k/" target="_blank" rel="noopener ">fresh increase</a> above the $65,500 and $66,000 resistance levels. BTC even climbed above the $67,000 level. It traded as high as $67,200 and is currently consolidating gains. 
There was a minor decline below the $66,500 level, but the price remained stable above the 23.6% Fib retracement level of the upward move from the $64,280 swing low to the $67,200 low. Bitcoin price is still trading above $65,500 and the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-pump-66k/" target="_blank" rel="noopener ">100 hourly Simple moving average</a>. 
There is also a connecting bullish trend line forming with support at $65,900 on the hourly chart of the BTC/USD pair. The trend line is near the 50% Fib retracement level of the upward move from the $64,280 swing low to the $67,200 low. 
Immediate resistance is near the $67,000 level. The first major resistance could be $67,200. A clear move above the $67,200 resistance might send the price higher. The next resistance now sits at $68,500. If there is a clear move above the $68,500 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $70,000. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_0576e3.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-604772" src="https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_0576e3.png?resize=1024%2C461" alt="Bitcoin Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_0576e3.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_0576e3.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_0576e3.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_0576e3.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_0576e3.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_0576e3.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_0576e3.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> 
The next major resistance is near the $70,500 zone. Any more gains might send Bitcoin toward the $72,000 resistance zone in the near term. 
<h2 id="are-dips-limited-in-btc">Are Dips Limited In BTC?</h2> 
If Bitcoin fails to rise above the $67,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $66,200 level. 
The first major support is $66,000 or the trend line. If there is a close below $66,000, the price could start to drop toward $65,400. Any more losses might send the price toward the $64,200 support zone in the near term. 
Technical indicators: 
Hourly MACD – The MACD is now losing pace in the bullish zone. 
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. 
Major Support Levels – $66,200, followed by $66,000. 
Major Resistance Levels – $67,000, $67,200, and $68,500.

Bitcoin Price Eyes Next Breakout As The Bulls Aim For $70K

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