Bitcoin

The BTC/USD pair is hovering near $65,000 resistance level and the traders are looking forward to whether the price will break this level or bounce back. In the analyst’s view, Bitcoin might break through to $65k easily, however, it is not clear, which direction the market will take afterwards. The price at the time of writing was $63,458.37, reflecting a drop of 1.26% in 24 hours.<h2 id="header-0">Price Structure and Key Moving Averages</h2>In the chart, there is a clear indication of a market structure break within the $65,054.60 level. This is important since the price of<a href="https://cryptotale.org/bitcoin-below-64k-as-fear-greed-index-signals-correction/" rel="noopener noreferrer nofollow"> Bitcoin</a> has been trading below this level for quite some time now. If it goes beyond this level, it could be a good indication of a new uptrend.Backing the analysis, the daily 200 MA figure is displayed at $63,874.30—this is a key indicator used by many traders to define long-term trends. The price recently broke above this level, signifying a bullish signal. But if the price is unable to remain higher than the moving average, then it could be a signal of a reversal.The 200-day exponential moving average (200 EMA) is also at around $59,595.17. This is another level that traders should look at. Should Bitcoin prices pull back, this could be a level of support. The market has been rather volatile over the past few weeks, with BTC prices ranging between $57,000 and $64,000.<a href="https://cryptotale.org/bitcoin-nears-65000-key-resistance-amid-market-uncertainty/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Bitcoin Nears $65,000 Key Resistance Amid Market Uncertainty

Table of Contents

CryptoTale

Other articles published on Sep 26, 2024

Taurus, Aktionariat partner to enable trading of tokenized shares

Telegram Wallet App Now Unavailable in the UK

SEC Settles Charges with TrueCoin and TrustToken Over Fraudulent TUSD Sales

Worldpay to start verifying blockchain transactions

Ethereum (ETH) Price Prediction for September 26

Coinpedia Fintech News

Join our free newsletter for daily crypto updates!