Este artículo también está disponible en español.
Bitcoin price has managed to hold its gains above the $67,000 resistance zone and is now consolidating as it aims for more gains above the $68,350 resistance level.
Bitcoin has shown stability and extended its gains above the $67,500 zone. The price is currently trading above $67,400 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support at $67,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). If the pair can close above the $68,200 resistance zone, it could rally further.
Bitcoin Price Eyes More Upsides
Bitcoin’s price has remained steady above the $67,000 pivot zone, with bulls active above the $66,500 level. There was a minor pullback from the recent high of $68,328.
The price dipped below $67,000 and fell below the 23.6% Fib retracement level of the upward move from the $64,685 swing low to the $68,328 high. However, the bulls defended the $66,500 level. There is also a key bullish trend line forming with support at $67,400 on the hourly chart of the BTC/USD pair.
Bitcoin’s price is currently trading above $67,200 and the 100 hourly Simple moving average. The next key resistance levels to watch are $68,000 and $68,200. A clear move above $68,200 could signal further upward momentum, with the next key resistance at $68,850.
If the price manages to close above the $68,850 resistance level, it could trigger further gains towards the $71,650 resistance level, potentially reaching $72,000.
Another Drop In BTC?
If Bitcoin fails to rise above the $68,000 resistance zone, it could see another decline. Immediate support on the downside is near the $67,200 level and the trend line.
The first major support is near the $66,500 level and the 50% Fib retracement level of the upward move from the $64,685 swing low to the $68,328 high. The next support is now near the $66,000 zone, followed by the $65,500 support level in the near term.
Technical indicators:
Hourly MACD – The MACD is gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is above the 50 level.
Major Support Levels – $67,200, followed by $66,500.
Major Resistance Levels – $68,000, and $68,200.
Conclusion
Bitcoin’s price action continues to show resilience above key support levels, with bulls maintaining control above $67,000. The possibility of further gains above $68,200 could lead to a test of higher resistance levels, potentially pushing the price towards $72,000.
However, a failure to surpass the $68,000 resistance might trigger a downside move, with immediate support at $67,200. Traders are advised to monitor key levels and technical indicators for potential trading opportunities in the near future.
For more trending news articles like this, check out DeFi Daily News.
