Bitcoin

Resistance

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-surges-and-tests-key-resistance-levels/" data-wpel-link="internal">Bitcoin Price Surges and Tests Key Resistance Levels</a><br></p>
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/bitcoin-forms-a-critical-golden-cross-formation/" data-wpel-link="internal">Bitcoin</a></strong>, recently demonstrated a remarkable performance and its <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="nofollow noreferrer">price</a> surged rapidly. According to the <a href="https://newslinker.co/" data-wpel-link="exclude">latest data</a>, Bitcoin tested the critical resistance level of $66,500 and is currently consolidating its gains. In the upcoming period, another rise towards the $67,500 level might be attempted. So, which levels are important to watch for the price?</p> 
<h2 style="text-align: justify" id="bitcoin-must-surpass-66-000">Bitcoin Must Surpass $66,000</h2> 
<p style="text-align: justify">Bitcoin seems to have entered a consolidation phase from the $66,500 resistance zone. The price is currently trading above the $65,000 level. The hourly chart of the <strong>BTC/USD</strong> pair shows a significant uptrend line at the $65,150 level.</p> 
<p style="text-align: justify">However, unless the bears push the price below $63,800, Bitcoin is likely to start a new increase. In this case, Bitcoin’s price may continue to be supported and a new rise above the $63,500 level may be observed.</p> 
<p style="text-align: justify">Recently, Bitcoin’s price showed a notable performance, surpassing the $65,500 resistance and testing the $66,500 zone. This means a new weekly high of $66,565.</p> 
<p style="text-align: justify">In the upcoming period, the first major resistance level for Bitcoin could be $66,000. A clear move above this level could push the price further up and test the next key resistance level at $66,500. If the bulls remain active, the price could rise towards the $68,000 resistance zone. Further gains might send Bitcoin towards the $70,000 barrier.</p> 
<h2 style="text-align: justify" id="what-levels-to-watch-if-a-decline-occurs">What Levels to Watch if a Decline Occurs?</h2> 
<p style="text-align: justify">If BTC fails to surpass the significant resistance zone of $66,000, it may show more downward tendency. At this point, technical indicators and critical support levels are closely monitored. Currently, the BTC/USD pair failed to break above the $66,000 resistance zone on the hourly chart and is showing downward momentum. In this case, it is crucial for the price to hold near the immediate support level of $65,150 and the trend line in the short term.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-352336 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/btc-5.png" alt="" width="1814" height="798"></p> 
<p style="text-align: justify">If further decline occurs, the first major support level is determined at $64,200. Beyond this, the main support is around $63,800. A break below this level could direct the price towards the $63,150 support zone in the near term.</p> 
<p style="text-align: justify">When examining technical indicators, the four-hour <strong>MACD</strong> is losing its upward momentum and showing a downward trend. However, the four-hour RSI is currently above the 50 level. This partially indicates that buying interest continues.</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/bitcoin-price-surges-and-tests-key-resistance-levels/" data-wpel-link="internal">Bitcoin Price Surges and Tests Key Resistance Levels</a></h5>

Bitcoin Price Surges and Tests Key Resistance Levels

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