Category: xbtusd

Bitcoin price failed to recover above the $68,000 resistance zone. BTC is sliding and might decline again toward the $62,000 support zone.

• Bitcoin price started a decent increase but struggled near the $68,000 zone.
• The price is trading below $66,000 and the 100 hourly Simple moving average.
• There is a short-term declining channel or a bullish flag forming with resistance at $66,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair must clear the $66,200 resistance zone to start a fresh increase.

Bitcoin Price Faces Hurdles

Bitcoin price attempted a decent recovery wave above the $65,000 resistance zone. BTC climbed above the $66,000 and $67,000 levels. However, the bears were active near the $68,000 level.

A high was formed at $68,137 and the price is now moving lower. There was a break below the $66,000 support level. The price declined below the 23.6% Fib retracement level of the recovery wave from the $60,778 swing low to the $68,137 high.

Bitcoin is now trading below $66,000 and the 100 hourly Simple moving average. The bulls are now trying to protect the 50% Fib retracement level of the recovery wave from the $60,778 swing low to the $68,137 high at $64,500.

Immediate resistance is near the $66,000 level. There is also a short-term declining channel or a bullish flag forming with resistance at $66,200 on the hourly chart of the BTC/USD pair. The first major resistance could be $67,000.

Source: BTCUSD on TradingView.com

If there is a clear move above the $67,000 resistance zone, the price could continue to gain strength. In the stated case, the price could even clear the $68,000 resistance zone in the near term. The next key resistance sits at $70,000.

More Losses In BTC?

If Bitcoin fails to rise above the $66,000 resistance zone, it could continue to move down. Immediate support on the downside is near the $64,500 level.

The first major support is $63,500. The next support sits at $62,000. If there is a close below $62,000, the price could start a drop toward the $61,200 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 gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 60 level.

Major Support Levels – $64,500, followed by $63,500.

Major Resistance Levels – $66,000, $67,000, and $68,000.

Bitcoin price started a strong recovery wave from the $60,800 zone. BTC is up nearly 10% and now facing hurdles near the $68,800 resistance.

• Bitcoin price started a decent increase from the $60,800 support zone.
• The price is trading above $64,500 and the 100 hourly Simple moving average.
• There was a break above a key bearish trend line with resistance at $65,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair must clear the $68,800 resistance zone to start a fresh uptrend.

Bitcoin Price Recovers 10%

Bitcoin price extended its decline below the $62,500 zone. BTC even spiked below the $61,200 level before the bulls appeared near $60,800. A low was formed near $60,778 and the price is now moving higher.

There was a decent increase above the $63,000 and $64,000 resistance levels. The price even cleared the 50% Fib retracement level of the downward move from the $68,898 swing high to the $60,778 low. There was a break above a key bearish trend line with resistance at $65,000 on the hourly chart of the BTC/USD pair.

Bitcoin is now trading above $64,500 and the 100 hourly Simple moving average. It is also above the 76.4% Fib retracement level of the downward move from the $68,898 swing high to the $60,778 low.

Source: BTCUSD on TradingView.com

Immediate resistance is near the $68,000 level. The first major resistance could be $68,800. If there is a clear move above the $68,800 resistance zone, the price could continue to gain strength. In the stated case, the price could even clear the $70,000 resistance zone in the near term. The next key resistance sits at $72,500.

Another Decline In BTC?

If Bitcoin fails to rise above the $68,800 resistance zone, it could start another decline. Immediate support on the downside is near the $66,800 level.

The first major support is $65,500. The next support sits at $64,800. If there is a close below $64,800, the price could start a drop toward the $63,000 level. Any more losses might send the price toward the $62,500 support zone in the near term.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 60 level.

Major Support Levels – $65,500, followed by $64,800.

Major Resistance Levels – $68,000, $68,800, and $70,000.

Bitcoin price extended its decline below the $65,000 support. BTC is now struggling to stay above the $62,000 support zone and might test $60,000.

• Bitcoin price is moving lower below the $64,000 support zone.
• The price is trading below $63,500 and the 100 hourly Simple moving average.
• There is a connecting bearish trend line forming with resistance at $63,300 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could start a decent upward move if it clears the $65,200 resistance zone in the near term.

Bitcoin Price Grinds Lower

Bitcoin price remained in a short-term bearish zone below the $66,500 zone. BTC traded below the $65,000 and $64,000 support levels to set a new weekly low.

There was a push below the $62,500 support. A low was formed near $61,537 and the price is now consolidating losses. The price is now struggling below the 23.6% Fib retracement level of the recent decline from the $68,898 swing high to the $61,537 low.

Bitcoin is now trading below $63,500 and the 100 hourly Simple moving average. Immediate resistance is near the $63,300 level. There is also a connecting bearish trend line forming with resistance at $63,300 on the hourly chart of the BTC/USD pair.

Source: BTCUSD on TradingView.com

The first major resistance could be $64,000. If there is a clear move above the $64,000 resistance zone, the price could even attempt a move toward the $65,200 resistance zone. It is close to the 50% Fib retracement level of the recent decline from the $68,898 swing high to the $61,537 low. Any more gains might send the price toward the $67,000 level.

More Losses In BTC?

If Bitcoin fails to rise above the $63,300 resistance zone, it could continue to move down. Immediate support on the downside is near the $62,000 level.

The first major support is $61,500. The next support sits at $60,500. If there is a close below $60,500, the price could start a drop toward the $60,000 level. Any more losses might send the price toward the $58,800 support zone in the near term.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $61,500, followed by $60,000.

Major Resistance Levels – $63,300, $64,000, and $65,200.

Bitcoin price struggled to recover above the $68,800 resistance. BTC is now moving lower and there is a risk of more downsides below the $65,000 support.

• Bitcoin price is struggling to start a fresh increase above the $68,000 zone.
• The price is trading below $68,000 and the 100 hourly Simple moving average.
• There is a connecting bearish trend line forming with resistance at $67,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could gain bullish momentum if it clears the $68,000 resistance zone in the near term.

Bitcoin Price Faces Resistance

Bitcoin price attempted a fresh increase above the $65,500 zone. BTC climbed above the $67,200 and $68,000 levels. However, the bears were active near the $69,000 zone.

A high was formed at $68,898 and the price is now moving lower. There was a move below the $67,500 support zone. The price declined below the 50% Fib retracement level of the recovery wave from the $64,555 swing low to the $68,898 high.

Bitcoin is now trading below $68,000 and the 100 hourly Simple moving average. It is testing the 76.4% Fib retracement level of the recovery wave from the $64,555 swing low to the $68,898 high.

There is also a connecting bearish trend line forming with resistance at $67,800 on the hourly chart of the BTC/USD pair. Immediate resistance is near the $66,750 level. The next key resistance could be $67,800 or the trend line, above which the price could rise toward the $68,800 resistance zone.

Source: BTCUSD on TradingView.com

If there is a clear move above the $68,800 resistance zone, the price could even attempt a move above the $70,000 resistance zone. Any more gains might send the price toward the $71,200 level.

More Losses In BTC?

If Bitcoin fails to rise above the $67,800 resistance zone, it could start another decline. Immediate support on the downside is near the $65,550 level.

The first major support is $65,000. The main support sits at $64,500. If there is a close below $64,500, the price could start a drop toward the $63,500 level. Any more losses might send the price toward the $62,000 support zone.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $65,500, followed by $65,000.

Major Resistance Levels – $67,800, $68,800, and $70,000.

Bitcoin price tested the $65,000 support zone. BTC is now rising and attempting a fresh increase above the $70,000 resistance zone in the near term.

• Bitcoin price is showing a few positive signs from the $65,000 zone.
• The price is trading below $70,000 and the 100 hourly Simple moving average.
• There was a break above a major bearish trend line with resistance at $67,100 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could gain bullish momentum if it clears the $70,000 resistance zone in the near term.

Bitcoin Price Holds Support

Bitcoin price started a downside correction from the $73,500 zone. There was a steady decline below the $70,000 support zone and the bears pushed the price below $68,000.

Finally, the price tested the $65,000 support zone. A low was formed at $64,555 and the price is now attempting a fresh increase. There was a move above the $66,500 resistance zone. The price climbed above the 23.6% Fib retracement level of the downward move from the $73,734 swing high to the $64,555 low.

There was also a break above a major bearish trend line with resistance at $67,100 on the hourly chart of the BTC/USD pair. Bitcoin is now trading below $70,000 and the 100 hourly Simple moving average.

Immediate resistance is near the $69,200 level or the 50% Fib retracement level of the downward move from the $73,734 swing high to the $64,555 low. The next key resistance could be $70,000, above which the price could rise toward the $71,200 resistance zone.

Source: BTCUSD on TradingView.com

If there is a clear move above the $71,200 resistance zone, the price could even attempt a move above the $72,000 resistance zone. Any more gains might send the price toward the $73,500 level.

More Losses In BTC?

If Bitcoin fails to rise above the $70,000 resistance zone, it could start another decline. Immediate support on the downside is near the $67,000 level.

The first major support is $65,000. The main support sits at $64,500. If there is a close below $64,500, the price could start a drop toward the $63,500 level. Any more losses might send the price toward the $62,000 support zone.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $66,500, followed by $65,000.

Major Resistance Levels – $69,200, $70,000, and $71,200.

Bitcoin price is moving lower from the $73,000 resistance. BTC must stay above the $67,000 support to start a fresh increase in the near term.

• Bitcoin price is correcting gains and moving lower from the $73,000 zone.
• The price is trading below $71,000 and the 100 hourly Simple moving average.
• There was a break below a key bullish trend line with support at $72,820 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could revisit the $67,000 support zone in the near term.

Bitcoin Price Corrects Lower

Bitcoin price made another attempt to gain strength above the $72,500 level. However, there was no clear move above the $72,500 level and the price reacted to the downside.

There was a drop below the $72,000 and $71,500 levels. Besides, there was a break below a key bullish trend line with support at $72,820 on the hourly chart of the BTC/USD pair. The pair even declined below the $70,000 level. A low is formed near $68,403 and the price is now showing a few bearish signs.

Bitcoin is now trading below $71,000 and the 100 hourly Simple moving average. Immediate resistance is near the $70,000 level or the 50% Fib retracement level of the downward move from the $72,043 swing high to the $68,403 low.

Source: BTCUSD on TradingView.com

The next key resistance could be $70,500 or the 61.8% Fib retracement level of the downward move from the $72,043 swing high to the $68,403 low, above which the price could rise toward the $72,000 resistance zone. If there is a clear move above the $72,000 resistance zone, the price could even attempt a move above the $73,000 resistance zone. Any more gains might send the price toward the $75,000 level.

More Losses In BTC?

If Bitcoin fails to rise above the $70,500 resistance zone, it could continue to move down. Immediate support on the downside is near the $68,500 level.

The first major support is $67,500. The main support sits at $67,000. If there is a close below $67,000, the price could start a decent pullback toward the $65,500 level. Any more losses might send the price toward the $65,000 support zone.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $68,500, followed by $67,000.

Major Resistance Levels – $70,500, $72,000, and $73,000.

Bitcoin price is eyeing more gains above the $73,000 resistance. BTC is setting up for a move toward the $75,000 resistance in the near term.

• Bitcoin price is showing positive signs and eyeing more gains above the $73,000 zone.
• The price is trading above $72,500 and the 100 hourly Simple moving average.
• There is a connecting bullish trend line forming with support at $72,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could continue to move up if it clears the $73,450 and $73,500 resistance levels.

Bitcoin Price Sets New ATH

Bitcoin price remained well-bid above the $72,000 level. BTC formed a base and started a fresh increase above the $72,500 resistance. The price even broke the $73,000 level.

It traded to a new all-time high above $73,500 before there was a downside correction. The price declined below the $73,000 and $72,500 levels. A low was formed near $71,725 and the price is again rising. There was a move above the $73,000 level.

Bitcoin is now trading above $72,500 and the 100 hourly Simple moving average. It is holding gains above the 50% Fib retracement level of the upward move from the $71,725 swing low to the $73,485 high.

Source: BTCUSD on TradingView.com

Immediate resistance is near the $73,200 level. The next key resistance could be $73,500, above which the price could rise toward the $74,200 resistance zone. If there is a clear move above the $74,200 resistance zone, the price could even attempt a move above the $75,000 resistance zone. Any more gains might send the price toward the $76,500 level.

Another Downside Correction In BTC?

If Bitcoin fails to rise above the $73,500 resistance zone, it could start a downside correction. Immediate support on the downside is near the $72,800 level and the trend line.

The first major support is $72,150 or 76.4% Fib retracement level of the upward move from the $71,725 swing low to the $73,485 high. If there is a close below $72,150, the price could start a decent pullback toward the $70,000 level. Any more losses might send the price toward the $68,500 support zone.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $72,800, followed by $72,150.

Major Resistance Levels – $73,200, $73,500, and $75,000.

Bitcoin price is holding gains above the $70,000 resistance. BTC is now showing positive signs and might aim for a move above the $73,000 level.

• Bitcoin price extended its increase and tested the $73,000 zone.
• The price is trading above $71,500 and the 100 hourly Simple moving average.
• There is a connecting bullish trend line forming with support at $71,300 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could continue to move up if it clears the $72,850 and $73,000 resistance levels.

Bitcoin Price Sets New ATH

Bitcoin price remained stable above the $70,000 level. BTC gained pace and was able to extend its increase above the $72,500 level. It even spiked above the $72,850 resistance but the upsides were limited.

The price traded to a new all-time high at $73,000 before there was a downside correction. The price declined below the $72,000 and $71,500 levels. A low was formed near $68,660 and the price is again rising. There was a move above the $71,000 level.

The price cleared the 50% Fib retracement level of the downward move from the $73,000 swing high to the $68,660 low. There is also a connecting bullish trend line forming with support at $71,300 on the hourly chart of the BTC/USD pair.

Bitcoin is now trading above $71,500 and the 100 hourly Simple moving average. Immediate resistance is near the $72,000 level and the 76.4% Fib retracement level of the downward move from the $73,000 swing high to the $68,660 low.

Source: BTCUSD on TradingView.com

The next key resistance could be $72,850, above which the price could rise toward the $73,000 resistance zone. If there is a clear move above the $73,000 resistance zone, the price could even attempt a move above the $74,000 resistance zone. Any more gains might send the price toward the $75,000 level.

Another Downside Correction In BTC?

If Bitcoin fails to rise above the $72,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $71,300 level and the trend line.

The first major support is $70,000 or 100 hourly SMA. If there is a close below $70,000, the price could start a decent pullback toward the $68,650 level. Any more losses might send the price toward the $66,500 support zone.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $71,300, followed by $70,000.

Major Resistance Levels – $72,000, $72,850, and $73,000.

Bitcoin price is still struggling to clear the $70,000 resistance. BTC is slowly moving lower and might soon drop toward the $67,000 support.

• Bitcoin price is struggling to clear the $69,500 and $70,000 levels.
• The price is trading above $68,000 and the 100 hourly Simple moving average.
• There is a key bullish trend line forming with support at $68,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could continue to move down and trade toward the $67,000 support zone.

Bitcoin Price Starts Consolidation

Bitcoin price made another attempt to gain strength above the $69,000 level. BTC cleared the $69,500 level, but the bears were active near the $70,000 resistance zone.

A high was formed at $69,981 and the price started a downside correction. There was a move below the $69,500 and $69,200 levels. The price declined below the 23.6% Fib retracement level of the upward wave from the $65,200 swing low to the $69,981 high.

Bitcoin is now trading above $68,000 and the 100 hourly Simple moving average. There is also a key bullish trend line forming with support at $68,000 on the hourly chart of the BTC/USD pair. The trend line is close to the 50% Fib retracement level of the upward wave from the $65,200 swing low to the $69,981 high.

Immediate resistance is near the $68,850 level. The next key resistance could be $69,200, above which the price could rise toward the $69,500 resistance zone.

Source: BTCUSD on TradingView.com

If there is a clear move above the $69,500 resistance zone, the price could even attempt a move above the $70,000 resistance zone. Any more gains might send the price toward the $72,000 level.

More Losses In BTC?

If Bitcoin fails to rise above the $68,850 resistance zone, it could start another decline. Immediate support on the downside is near the $68,000 level and the trend line.

The first major support is $67,000. If there is a close below $67,000, the price could start a decent pullback toward the $65,500 level. Any more losses might send the price toward the $64,400 support zone.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $68,000, followed by $67,000.

Major Resistance Levels – $68,850, $69,200, and $69,500.

Bitcoin price is still struggling to settle above the $68,000 resistance. BTC is now consolidating and might drop again toward the $63,500 support.

• Bitcoin price is struggling to clear the $68,000 and $68,500 levels.
• The price is trading above $66,000 and the 100 hourly Simple moving average.
• There is a key rising channel forming with resistance near $68,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could start another decline and trade toward $63,500 support zone.

Bitcoin Price Faces Hurdles

Bitcoin price recovered most losses and settled above the $65,000 level. However, BTC seems to be struggling to clear the $68,000 and $68,500 levels, unlike Ethereum.

The recent high was formed at $68,034 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the upward wave from the $59,150 swing low to the $68,034 high. There is also a key rising channel forming with resistance near $68,200 on the hourly chart of the BTC/USD pair.

Bitcoin is still trading above $66,000 and the 100 hourly Simple moving average. Immediate resistance is near the $67,500 level. The next key resistance could be $68,000, above which the price could rise toward the $68,500 resistance zone.

Source: BTCUSD on TradingView.com

If there is a clear move above the $68,500 resistance zone, the price could even attempt a move above the $69,200 resistance zone. Any more gains might send the price toward the $70,000 level.

Another Decline In BTC?

If Bitcoin fails to rise above the $68,000 resistance zone, it could start another downside correction. Immediate support on the downside is near the $66,550 level and the channel trend line.

The first major support is $66,000. If there is a close below $66,000, the price could start a decent pullback toward the 50% Fib retracement level of the upward wave from the $59,150 swing low to the $68,034 high at $63,500. Any more losses might send the price toward the $62,500 support zone.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now near the 50 level.

Major Support Levels – $66,550, followed by $66,000.

Major Resistance Levels – $67,500, $68,000, and $68,500.

Bitcoin price is struggling to settle above the $68,000 resistance. BTC is now consolidating and might decline toward the $63,400 support zone.

• Bitcoin price is struggling to gain pace for more gains above the new all-time.
• The price is trading above $65,000 and the 100 hourly Simple moving average.
• There is a short-term bearish trend line forming with resistance near $67,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could extend losses and revisit the $63,400 support zone.

Bitcoin Price Faces Hurdles

Bitcoin price started a nasty decline from the new all-time high of $69,218. BTC crashed to $59,150 before it trimmed losses. It climbed back above $65,000, but the bears are now protecting more upsides above the $67,500 level.

A high was formed at $67,635 and the price is now consolidating. It is trading above the 23.6% Fib retracement level of the upward move from the $59,150 swing low to the $67,635 high.

Bitcoin is still trading above $65,000 and the 100 hourly Simple moving average. Immediate resistance is near the $67,000 level. There is also a short-term bearish trend line forming with resistance near $67,000 on the hourly chart of the BTC/USD pair.

Source: BTCUSD on TradingView.com

The next key resistance could be $68,000, above which the price could rise toward the $69,200 resistance zone. If there is a clear move above the $69,200 resistance zone, the price could rise toward the $70,000 level. Any more gains might send the price toward the $72,000 level.

Another Decline In BTC?

If Bitcoin fails to rise above the $67,000 resistance zone, it could start another downside correction. Immediate support on the downside is near the $66,650 level.

The first major support is $65,000. If there is a close below $65,000, the price could start a decent pullback toward the 50% Fib retracement level of the upward move from the $59,150 swing low to the $67,635 high at $63,400. Any more losses might send the price toward the $62,500 support zone.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now near the 50 level.

Major Support Levels – $65,000, followed by $63,400.

Major Resistance Levels – $67,000, $68,000, and $69,200.

Bitcoin price traded to a new all-time high above $69,000 before crashing. BTC is now consolidating near $63,000 and might decline toward the $60,000 support.

• Bitcoin price created history again and traded to a new all-time above $69,000.
• The price is trading below $65,000 and the 100 hourly Simple moving average.
• There was a break below a key bullish trend line with support at $66,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could extend losses and revisit the key $60,000 support zone.

Bitcoin Price Takes Hit

Bitcoin price extended its increase above the $68,000 resistance. BTC even broke the $68,800 level and traded to a new all-time high at $69,218. However, there was a strong bearish reaction from $69,200.

The price crashed over 10% and dived toward the $60,000 zone. There was a break below a key bullish trend line with support at $66,000 on the hourly chart of the BTC/USD pair. A low was formed near $59,150 and the price is now attempting a recovery wave.

There was a move above the $62,000 resistance. It is now facing resistance near the $64,000 zone and the 50% Fib retracement level of the downward move from the $69,218 swing high to the $59,150 low.

Bitcoin is now trading below $64,000 and the 100 hourly Simple moving average. Immediate resistance is near the $64,000 level. The next key resistance could be $64,200, above which the price could rise toward the $65,500 resistance zone.

Source: BTCUSD on TradingView.com

If there is a clear move above the $65,500 resistance zone or the 61.8% Fib retracement level of the downward move from the $69,218 swing high to the $59,150 low, the price could rise toward the $67,000 level. Any more gains might send the price toward the $70,000 level.

More Losses In BTC?

If Bitcoin fails to rise above the $64,200 resistance zone, it could start another downside correction. Immediate support on the downside is near the $62,000 level.

The first major support is $61,500. If there is a close below $61,500, the price could start a decent pullback toward the $60,000 zone. Any more losses might send the price toward the $58,500 support zone.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $62,000, followed by $60,000.

Major Resistance Levels – $64,200, $65,500, and $67,000.

Bitcoin price is up over 8% and trading above the $67,500 resistance. BTC is eyeing a new all-time high and could even hit the $70,000 level.

• Bitcoin price is moving higher above the $66,500 support zone.
• The price is trading above $67,500 and the 100 hourly Simple moving average.
• There is a connecting bullish trend line forming with support at $66,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could accelerate higher toward the $69,200 resistance or even $70,000.

Bitcoin Price Rallies Again

Bitcoin price remained well-bid above the $65,000 support zone. A new support base was formed, and the price started another rally above the $66,000 level. There was a steady increase toward the $67,500 level.

The price is up over 8% and it traded close to the last all-time high. A high is formed at $68,786 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $61,400 swing low to the $68,786 high.

Bitcoin is now trading above $67,500 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $66,000 on the hourly chart of the BTC/USD pair.

Source: BTCUSD on TradingView.com

Immediate resistance is near the $68,800 level. The next key resistance could be $69,200, above which the price could rise toward the $70,000 resistance zone. If there is a clear move above the $70,000 resistance zone, the price could rise toward the $71,200 level. Any more gains might send the price toward the $75,000 level.

Downside Correction In BTC?

If Bitcoin fails to rise above the $68,800 resistance zone, it could start another downside correction. Immediate support on the downside is near the $67,000 level.

The first major support is $66,000 or the trend line. If there is a close below $66,000, the price could start a decent pullback toward the 50% Fib retracement level of the upward move from the $61,400 swing low to the $68,786 high or $65,000. Any more losses might send the price toward the $63,200 support zone.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $67,000, followed by $66,000.

Major Resistance Levels – $68,800, $69,200, and $70,000.

Bitcoin price is gaining momentum above the $62,000 resistance. BTC is signaling an upside break and might surge toward the $65,000 resistance.

• Bitcoin price is moving higher from the $61,200 support zone.
• The price is trading above $62,500 and the 100 hourly Simple moving average.
• There was a break above a key bearish trend line with resistance at $62,300 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could accelerate higher toward the $65,000 resistance or even $65,730.

Bitcoin Price Regains Strength

Bitcoin price remained well-bid above the $60,000 support zone. A base was formed, and the price started a fresh increase above the $62,000 resistance.

There was a break above a key bearish trend line with resistance at $62,300 on the hourly chart of the BTC/USD pair. The pair even cleared the 76.4% Fib retracement level of the downward move from the $63,583 swing high to the $60,108 low.

Bitcoin is now trading above $62,500 and the 100 hourly Simple moving average. Immediate resistance is near the $63,800 level. The next key resistance could be $64,500, above which the price could rise toward the $65,000 resistance zone.

Source: BTCUSD on TradingView.com

If the bulls remain in action, the price could even surpass $65,000 and test $65,500. Any more gains might send the price toward the 1.618 Fib extension level of the downward move from the $63,583 swing high to the $60,108 low at $65,730.

Are Dips Supported In BTC?

If Bitcoin fails to rise above the $64,000 resistance zone, it could start another downside correction. Immediate support on the downside is near the $62,750 level.

The first major support is $62,250 or the 100 hourly SMA. If there is a close below $62,250, the price could start a decent pullback toward the $61,000 zone. Any more losses might send the price toward the $60,000 support zone.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $62,750, followed by $62,250.

Major Resistance Levels – $63,800, $65,000, and $65,730.

Bitcoin price is correcting gains from the $64,000 resistance. BTC might find strong support near the $59,250 level or the 100 hourly SMA.

• Bitcoin price is correcting gains below the $62,250 resistance zone.
• The price is trading above $60,000 and the 100 hourly Simple moving average.
• There was a break below a connecting bullish trend line with support at $62,850 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could correct lower toward $60,000 or even to the 100 hourly Simple moving average.

Bitcoin Price Starts Correction

Bitcoin price extended its rally above the $62,000 resistance zone. BTC even cleared the $63,200 level and tested the $64,000 zone. A new multi-week high was formed near $64,000 before the price started a downside correction.

The price traded below the $62,000 support. There was a spike below the 50% Fib retracement level of the upward move from the $57,846 swing low to the $53,549 swing high.

There was a break below a connecting bullish trend line with support at $62,850 on the hourly chart of the BTC/USD pair. Bitcoin is still trading above $60,000 and the 100 hourly Simple moving average.

Source: BTCUSD on TradingView.com

Immediate resistance is near the $62,200 level. The next key resistance could be $62,850, above which the price could rise toward the $64,000 resistance zone. If the bulls remain in action, the price could even surpass $64,000 and test $65,000. Any more gains might send the price toward the $68,000 zone.

Are Dips Limited In BTC?

If Bitcoin fails to rise above the $62,200 resistance zone, it could continue to move down. Immediate support on the downside is near the $60,000 level and the 61.8% Fib retracement level of the upward move from the $57,846 swing low to the $53,549 swing high.

The first major support is $58,000 or the 100 hourly SMA. If there is a close below $58,000, the price could start a decent pullback toward the $56,500 zone. Any more losses might send the price toward the $55,000 support zone.

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 below the 50 level.

Major Support Levels – $60,000, followed by $58,000.

Major Resistance Levels – $62,200, $62,850, and $64,000.

Bitcoin price rallied further above $62,000. BTC is now consolidating gains and might soon attempt another upward move toward the $64,000 resistance.

• Bitcoin price is consolidating gains below the $60,000 resistance zone.
• The price is trading above $60,500 and the 100 hourly Simple moving average.
• There is a connecting bullish trend line forming with support at $60,950 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could extend its current rally toward the $64,000 resistance zone.

Bitcoin Price Jumps Over $5K

Bitcoin price remained strong above the $58,000 resistance zone. BTC formed a fresh support base and started another rally. It gained over 10% and broke many hurdles near $60,000 and $62,000.

The price even surged toward the $64,000 level. A new multi-week high was formed near $64,000 before there was a sharp decline after the Coinbase outage. The price dived toward the $58,000 support zone. A low was formed near $57,919 and the price started a fresh rally.

It is back above the $60,000 resistance. There was a move above the 50% Fib retracement level of the downward move from the $64,000 swing high to the $57,919 low.

Bitcoin is now trading above $60,000 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $60,950 on the hourly chart of the BTC/USD pair. Immediate resistance is near the $62,500 level. It is near the 76.4% Fib retracement level of the downward move from the $64,000 swing high to the $57,919 low.

Source: BTCUSD on TradingView.com

The next key resistance could be $64,000, above which the price could rise toward the $65,000 resistance zone. If the bulls remain in action, the price could even surpass $65,000 and test $66,400. The main hurdle for them is visible near the $68,000 zone.

Are Dips Supported In BTC?

If Bitcoin fails to rise above the $62,500 resistance zone, it could start a downside correction. Immediate support on the downside is near the $60,800 level and the trend line.

The first major support is $60,000. If there is a close below $60,000, the price could start a decent pullback toward the $58,000 zone. Any more losses might send the price toward the $56,500 support zone.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $60,800, followed by $60,000.

Major Resistance Levels – $62,500, $64,000, and $65,000.

Bitcoin price rallied further toward $58,000. BTC is now consolidating gains and might soon attempt more gains toward the $60,000 resistance.

• Bitcoin price is consolidating gains below the $57,500 resistance zone.
• The price is trading above $56,000 and the 100 hourly Simple moving average.
• There is a rising channel forming with resistance near $57,650 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could extend its current rally toward the $60,000 resistance zone.

Bitcoin Price Faces Fresh Hurdle

Bitcoin price extended its rally above the $55,000 resistance zone. BTC gained bullish momentum after it broke the $55,500 and $56,000 resistance levels. There was also a spike above the $57,000 resistance zone.

A new multi-week high is formed near $57,572 and the price is now consolidating gains. There was a minor decline below the $57,000 level, but the price is still above the 23.6% Fib retracement level of the recent wave from the $50,950 swing low to the $57,572 high.

Bitcoin is now trading above $56,000 and the 100 hourly Simple moving average. Immediate resistance is near the $57,200 level. The next key resistance could be $57,500.

Source: BTCUSD on TradingView.com

There is also a rising channel forming with resistance near $57,650 on the hourly chart of the BTC/USD pair, above which the price could rise toward the $58,000 resistance zone. If the bulls remain in action, the price could even surpass $58,000 and test $58,800. The main hurdle for them is visible near the $60,000 zone.

Are Dips Supported In BTC?

If Bitcoin fails to rise above the $57,500 resistance zone, it could start a downside correction. Immediate support on the downside is near the $56,800 level.

The first major support is $56,000. If there is a close below $56,000, the price could start a decent pullback toward the 50% Fib retracement level of the recent wave from the $50,950 swing low to the $57,572 high at $54,250. Any more losses might send the price toward the $53,200 support zone.

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 – $56,800, followed by $56,000.

Major Resistance Levels – $57,500, $57,650, and $58,000.