Bitcoin

Resistance

Gains

Bitcoin price failed to clear the $67,000 resistance. BTC trimmed gains and is now struggling to stay above the $63,650 support zone. 
<ul> 
 <li>Bitcoin started another decline after it failed to surpass the $67,200 resistance zone.</li> 
 <li>The price is trading below $65,000 and the 100 hourly Simple moving average.</li> 
 <li>There was a break below a key bullish trend line with support at $66,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).</li> 
 <li>The pair could correct higher, but the bears might remain active near the $65,500 zone.</li> 
</ul> 
<h2 id="bitcoin-price-dips-again">Bitcoin Price Dips Again</h2> 
Bitcoin price struggled to clear the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-eyes-70k/" target="_blank" rel="noopener ">$67,000 and $67,200 resistance levels</a>. BTC formed a short-term topping pattern and started a fresh decline below the $66,000 level. 
There was a move below the $65,500 support. Besides, there was a break below a key bullish trend line with support at $66,200 on the hourly chart of the BTC/USD pair. The pair even spiked below $63,650. A low was formed at $63,583 and the price is now consolidating losses. 
Bitcoin price is now trading below $65,500 and the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-extends-increase-67k/" target="_blank" rel="noopener ">100 hourly Simple moving average</a>. Immediate resistance is near the $64,500 level or the 23.6% Fib retracement level of the downward move from the $67,195 swing high to the $63,583 low. 
The first major resistance could be $65,350 or the 50% Fib retracement level of the downward move from the $67,195 swing high to the $63,583 low. A clear move above the $65,350 resistance might send the price higher. The next resistance now sits at $65,850. If there is a clear move above the $65,850 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $67,000. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_77eeea.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-605000" src="https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_77eeea.png?resize=1024%2C461" alt="Bitcoin Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_77eeea.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_77eeea.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_77eeea.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_77eeea.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_77eeea.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_77eeea.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_77eeea.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 $67,200 zone. Any more gains might send Bitcoin toward the $68,800 resistance zone in the near term. 
<h2 id="more-losses-in-btc">More Losses In BTC?</h2> 
If Bitcoin fails to rise above the $65,350 resistance zone, it could continue to move down. Immediate support on the downside is near the $63,500 level. 
The first major support is $62,600. If there is a close below $62,600, the price could start to drop toward $61,200. Any more losses might send the price toward the $60,000 support zone in the near term. 
Technical indicators: 
Hourly MACD – The MACD is now losing pace in the bearish zone. 
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. 
Major Support Levels – $63,500, followed by $62,600. 
Major Resistance Levels – $65,350, $65,850, and $67,000.

Bitcoin Price Trims Gains Amid War Escalation, Can Bulls Save The Day?

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