Bitcoin

Resistance

Bitcoin price is consolidating below the $65,000 resistance zone. BTC must surpass $65,000 and $67,000 to move into a bullish zone again. 
<ul> 
 <li>Bitcoin is struggling to gain pace for a move above the $65,000 resistance zone.</li> 
 <li>The price is trading below $65,000 and the 100 hourly Simple moving average.</li> 
 <li>There was a break above a connecting bearish trend line with resistance at $63,000 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 $67,000 resistance zone.</li> 
</ul> 
<h2 id="bitcoin-price-eyes-upside-break">Bitcoin Price Eyes Upside Break</h2> 
Bitcoin price failed to clear the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-restarts-decline-60k/" target="_blank" rel="noopener ">$67,000 resistance zone</a>. BTC started another decline and traded below the $65,000 support zone. It even declined below $62,000 before the bulls emerged. 
A low was formed near $61,551 and the price is now attempting a fresh recovery wave. There was a break above a connecting bearish trend line with resistance at $63,000 on the hourly chart of the BTC/USD pair. The pair climbed above the 23.6% Fib retracement level of the recent decline from the $66,898 swing high to the $61,551 low. 
Bitcoin price is trading below $65,000 and the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-downside-thrust-60500/" target="_blank" rel="noopener ">100 hourly Simple moving average</a>. Immediate resistance is near the $64,250 level. It is close to the 50% Fib retracement level of the recent decline from the $66,898 swing high to the $61,551 low. 
The first major resistance could be $64,850. The next resistance now sits at $65,000. If there is a clear move above the $65,000 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $66,500. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_0bc6e3.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-603624" src="https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_0bc6e3.png?resize=1024%2C461" alt="Bitcoin Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_0bc6e3.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_0bc6e3.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_0bc6e3.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_0bc6e3.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_0bc6e3.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_0bc6e3.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_0bc6e3.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 $70,000 resistance zone in the near term. 
<h2 id="another-decline-in-btc">Another Decline In BTC?</h2> 
If Bitcoin fails to rise above the $65,000 resistance zone, it could start another decline. Immediate support on the downside is near the $62,800 level. 
The first major support is $62,000. If there is a close below $62,000, the price could start to drop toward the $61,500 level. Any more losses might send the price toward the $60,500 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 – $63,000, followed by $62,000. 
Major Resistance Levels – $64,850, $65,000, and $67,000.

Bitcoin Price Consolidates Below Hurdles, Can BTC Bounce Back?

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