Cryptocurrency

Bitcoin

Resistance

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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-faces-resistance-at-68000-milestone/" data-wpel-link="internal">Bitcoin Faces Resistance at $68,000 Milestone</a><br></p>
<p style="text-align: justify"><strong><a href="https://coin-turk.com/michael-van-de-poppe-tarih-verdi-bitcoinde-btc-olum-kalim-seviyesi" data-wpel-link="internal">Cryptocurrency</a></strong> markets had an exciting week, but unfortunately, the hopes of <a href="https://coin-turk.com/bitcoin-btc-yeniden-60-000-dolari-gordu-haftalik-kapanis-icin-olasi-senaryolar" data-wpel-link="internal">Bitcoin</a> investors to overcome the pivotal resistance level of $68,000 ended in disappointment. After the price of <a href="https://coin-turk.com/bitcoin-analiz" data-wpel-link="internal">BTC</a> dropped to $64,526, it rallied again and is currently moving above $66,000.</p> 
<h2 style="text-align: justify" id="bitcoin-price-encounters-resistance-at-68-000">Bitcoin Price Encounters Resistance at $68,000</h2> 
<p style="text-align: justify">Even though <a href="https://en.coin-turk.com/insights-into-bitcoins-price-momentum-and-market-resilience/" data-wpel-link="internal">Bitcoin</a>‘s price has shown a reasonable increase recently, it faced a tough battle when it encountered the $68,000 region. The struggle near this level caused the price to fall below $66,000 before it climbed back up again.</p> 
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/bitcoin-and-ethereum-price-analysis-long-term-outlook-and-potential-levels/" data-wpel-link="internal">BTC</a></strong>/USD pair’s chart shows a short-term descending channel or a bullish flag, indicating that the $66,500 resistance level is a hurdle Bitcoin needs to overcome to initiate a new rally.</p> 
<p style="text-align: justify">In recent days, Bitcoin attempted a strong recovery wave above the $65,000 resistance level and briefly reached the $66,000 and $67,000 levels. However, bears active near the $68,000 level limited this recovery.</p> 
<p style="text-align: justify">Currently, Bitcoin is trading above $66,000 and below the 100-hour simple moving average. Bulls are struggling to maintain the recovery wave’s 50% Fibonacci retracement level.</p> 
<h2 style="text-align: justify" id="btc-resistance-and-support-levels">BTC Resistance and Support Levels</h2> 
<p style="text-align: justify">The $66,500 resistance level observed on the BTC/USD pair’s hourly chart stands as a significant barrier for Bitcoin in the near term. However, if the price clearly breaks above the $67,000 resistance level, it could gain strength to surpass the $68,000 resistance level and even move towards $70,000.</p> 
<p style="text-align: justify">The first major support level Bitcoin faces is at $63,500. If a deeper decline occurs, the $62,000 level becomes significant. A close below this level could initiate a downtrend towards $61,200, potentially bringing BTC to the $60,500 support zone in the near term.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-331596 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/bitcoin-coin-turk-com-2.png" alt="" width="1814" height="798"></p> 
<p style="text-align: justify">Looking at technical indicators, we see the hourly MACD gaining momentum in the bullish zone. Similarly, the hourly RSI (Relative Strength Index) for BTC/USD is trending below the 60 level, signaling potential for a price increase.</p> 
<p style="text-align: justify">Key support levels for investors to watch include $64,500 and $63,500. However, upward movements require careful monitoring of resistance levels such as $66,500, $67,000, and $68,000.</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-faces-resistance-at-68000-milestone/" data-wpel-link="internal">Bitcoin Faces Resistance at $68,000 Milestone</a></h5>

Bitcoin Faces Resistance at $68,000 Milestone

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