Bitcoin

Momentum

Resistance

Gains

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-gains-momentum-with-price-surge" rel="noopener noreferrer nofollow">Bitcoin Gains Momentum with Price Surge</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoins-downward-pressure-subsides-as-coinbase-foresees-positive-market-shift" rel="noopener noreferrer nofollow">Bitcoin</a>, the leading cryptocurrency, has recently experienced a significant <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank">price</a> increase, capturing the attention of <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank">investors</a> and analysts alike. The digital asset saw an approximately 8% surge, navigating past several obstacles and solidifying its gains. Experts anticipate a potential correction towards the pivotal $65,000 mark, which could be a critical juncture for <a href="https://newslinker.co/" rel="noopener noreferrer nofollow" target="_blank">future</a> trends.</p>
<h2 id="why-is-bitcoin-at-a-critical-level">Why is Bitcoin at a Critical Level?</h2>
<p style="text-align: justify">Bitcoin’s impressive climb began by surpassing the $63,500 resistance zone, and it is currently trading above $65,000. A notable break above a major downtrend line at the $61,500 resistance level on the hourly BTC/USD chart has been observed. This breakout signifies a robust bullish trend, suggesting that the upward momentum may continue in the short term.</p>
<p style="text-align: justify">After establishing a strong base above the $60,000 support zone, Bitcoin’s price started a new ascent above $62,000. However, resistance levels at $66,850 and $67,200 remain significant. A decisive move beyond the $67,200 level could propel the price higher, increasing the chances of testing the $68,000 resistance.</p>
<h2 id="which-resistance-levels-are-crucial-for-btc">Which Resistance Levels are Crucial for BTC?</h2>
<p style="text-align: justify">Recently, Bitcoin failed to surpass the $66,400 resistance zone, leading to expectations of a downward correction. Market observers note that a close below critical support levels might indicate further price declines. Immediate support is identified near the $65,150 level.</p>
<p style="text-align: justify">The first major support for Bitcoin is at $64,500. Should the price close below this level, a drop towards $63,500 or even $61,073 is anticipated. This scenario suggests that Bitcoin could approach the $63,000 support zone in the near future.</p>
<h2 id="what-do-technical-indicators-suggest">What Do Technical Indicators Suggest?</h2>
<p style="text-align: justify">Technical indicators provide valuable insights into potential price movements:</p>
<ul style="text-align: justify">
 <li>The four-hour MACD is gaining momentum in the bullish zone.</li>
 <li>The four-hour RSI (Relative Strength Index) for BTC/USD is above the 50 level, indicating potential resistance but limited declines.</li>
 <li>Main support levels are at $65,150 and $64,500, with further downside possible if these are breached.</li>
 <li>In a bullish scenario, resistance levels to watch are $66,800 and $67,200 above the $66,400 threshold.</li>
</ul>
<p style="text-align: justify">Technical indicators suggest that while Bitcoin may encounter resistance in the short term, significant declines could be contained, allowing room for potential upward movements.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-gains-momentum-with-price-surge" rel="noopener noreferrer nofollow">Bitcoin Gains Momentum with Price Surge</a></h5>

Bitcoin Gains Momentum with Price Surge

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