Bitcoin

Resistance

Gains

Bitcoin price extended its increase and climbed above the $66,000 resistance zone. BTC is now showing positive signs and might find bids near $65,500. 
<ul> 
 <li>Bitcoin gained pace for a move above the $65,500 resistance zone.</li> 
 <li>The price is trading above $65,500 and the 100 hourly Simple moving average.</li> 
 <li>There is a key bullish trend line forming with support at $65,700 on the hourly chart of the BTC/USD pair (data feed from Kraken).</li> 
 <li>The pair could correct lower, but the bulls might remain active near the $65,500 support.</li> 
</ul> 
<h2 id="bitcoin-price-gains-strength">Bitcoin Price Gains Strength</h2> 
Bitcoin price started a <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-pump-66k/" target="_blank" rel="noopener ">fresh increase</a> above the $64,500 and $65,000 resistance levels. BTC bulls even pushed the price above the $66,000 resistance. It traded to a new weekly high at $67,200 and is currently consolidating gains. 
The price is slowly moving lower toward the 23.6% Fib retracement level of the upward move from the $64,281 swing low to the $67,200 low. Bitcoin price is still trading above $65,500 and the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-risk-60k/" target="_blank" rel="noopener ">100 hourly Simple moving average</a>. 
There is also a key bullish trend line forming with support at $65,700 on the hourly chart of the BTC/USD pair. The trend line is near the 50% Fib retracement level of the upward move from the $64,281 swing low to the $67,200 low. 
Immediate resistance is near the $67,000 level. The first major resistance could be $67,200. The next resistance now sits at $68,500. If there is a clear move above the $68,500 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $70,000. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_95dfa1.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-604590" src="https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_95dfa1.png?resize=1024%2C461" alt="Bitcoin Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_95dfa1.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_95dfa1.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_95dfa1.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_95dfa1.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_95dfa1.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_95dfa1.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/04/Bitcoin_95dfa1.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 $70,500 zone. Any more gains might send Bitcoin toward the $72,000 resistance zone in the near term. 
<h2 id="downside-correction-in-btc">Downside Correction In BTC?</h2> 
If Bitcoin fails to rise above the $67,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $66,500 level. 
The first major support is $65,700 or the trend line. If there is a close below $65,500, the price could start to drop toward $65,000. Any more losses might send the price toward the $64,200 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 – $66,500, followed by $65,500. 
Major Resistance Levels – $67,000, $67,200, and $68,500.

Bitcoin Price Extends Increase, Why Dips Turned Attractive In Short-Term

Indice dei contenuti

NewsBTC

Altri articoli pubblicati su 23 apr 2024

Millions in Cryptocurrency Frozen Across Key Blockchain Bridges

Network International Secures SVF License from Central Bank of UAE

Here's Why Bitcoin Fees Exploding After Halving

BRICS Shifts From US Dollar to Cryptocurrency in Trade

MicroStrategy's Michael Saylor Reacts as Bitcoin Price Stalls Near $66,000

Ethereum Faces Challenges in the ETF Arena and Market Dynamics

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!