Bitcoin

Momentum

Resistance

Threshold

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-struggles-to-surpass-key-68000-threshold">Bitcoin Struggles to Surpass Key $68,000 Threshold</a><br></p>
<p style="text-align: justify"> Despite recent positive trends in the <a href="https://en.bitcoinhaber.net/bitcoin-price-shows-strong-performance-at-the-beginning-of-the-month">cryptocurrency</a> market, <a href="https://en.bitcoinhaber.net/bitcoin-soars-to-new-heights-touching-69000">Bitcoin</a> investors experienced a setback as the premier digital currency struggled to break through the critical resistance mark of $68,000. After witnessing a drop to $64,526, Bitcoin managed to recover, maintaining a position above the $66,000 mark. </p> 
<h2 id="resistance-halts-bitcoin-s-upward-momentum">Resistance Halts Bitcoin’s Upward Momentum</h2> 
<p style="text-align: justify"> Bitcoin’s recent price movements have shown resilience, yet the currency stumbled upon reaching the $68,000 level, where it met considerable resistance, causing a brief dip before rebounding. The <a href="https://en.bitcoinhaber.net/microstrategy-expands-bitcoin-portfolio-with-bold-acquisition">BTC</a>/USD pair’s trading patterns suggest a short-term downward trend or a positive consolidation, highlighting the $66,500 level as a significant obstacle to trigger a new bullish wave. </p> 
<p style="text-align: justify"> Bitcoin made an effort to surge above $65,000 and momentarily surpassed $66,000 and $67,000, but selling pressure around $68,000 curtailed the ascent. Currently, Bitcoin trades above $66,000, yet still under the 100-hour simple moving average, as bulls work to sustain momentum at a key technical retracement level. </p> 
<h2 id="bitcoin-s-critical-trading-levels">Bitcoin’s Critical Trading Levels</h2> 
<p style="text-align: justify"> The hourly charts indicate that the $66,500 level poses a notable challenge for Bitcoin. A decisive move above $67,000 could provide the strength needed to break the $68,000 barrier, potentially setting sights on $70,000. Conversely, Bitcoin faces substantial support at $63,500, and a further drop could lead to significant support levels at $62,000, with the risk of a downward trend towards $61,200 and potentially reaching a support zone near $60,500. </p> 
<p style="text-align: justify"> Technical indicators show the hourly Moving Average Convergence Divergence (MACD) in a bullish zone and the Relative Strength Index (RSI) below 60, suggesting room for growth. Investors should keep an eye on pivotal support levels at $64,500 and $63,500 while remaining vigilant of resistance levels at $66,500, $67,000, and the crucial $68,000 mark.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-struggles-to-surpass-key-68000-threshold">Bitcoin Struggles to Surpass Key $68,000 Threshold</a></h5>

Bitcoin Struggles to Surpass Key $68,000 Threshold

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