Bitcoin worth climbed above the $66,000 resistance zone and began consolidation. BTC is now eyeing the following transfer above the $67,200 resistance zone.
Bitcoin is eyeing an honest improve above the $67,200 resistance zone.
The worth is buying and selling above $65,500 and the 100 hourly Easy shifting common.
There’s a connecting bullish pattern line forming with help at $65,900 on the hourly chart of the BTC/USD pair (information feed from Kraken).
The pair may achieve bullish momentum if it clears the $67,200 resistance zone.
Bitcoin Value Eyes Extra Upsides
Bitcoin worth began a contemporary improve above the $65,500 and $66,000 resistance ranges. BTC even climbed above the $67,000 stage. It traded as excessive as $67,200 and is at present consolidating positive aspects.
There was a minor decline beneath the $66,500 stage, however the worth remained secure above the 23.6% Fib retracement stage of the upward transfer from the $64,280 swing low to the $67,200 low. Bitcoin worth remains to be buying and selling above $65,500 and the 100 hourly Easy shifting common.
There’s additionally a connecting bullish pattern line forming with help at $65,900 on the hourly chart of the BTC/USD pair. The pattern line is close to the 50% Fib retracement stage of the upward transfer from the $64,280 swing low to the $67,200 low.
Instant resistance is close to the $67,000 stage. The primary main resistance might be $67,200. A transparent transfer above the $67,200 resistance may ship the value greater. The following resistance now sits at $68,500. If there’s a clear transfer above the $68,500 resistance zone, the value may proceed to maneuver up. Within the said case, the value may rise towards $70,000.
Supply: BTCUSD on TradingView.com
The following main resistance is close to the $70,500 zone. Any extra positive aspects may ship Bitcoin towards the $72,000 resistance zone within the close to time period.
Are Dips Restricted In BTC?
If Bitcoin fails to rise above the $67,000 resistance zone, it may begin a draw back correction. Instant help on the draw back is close to the $66,200 stage.
The primary main help is $66,000 or the pattern line. If there’s a shut beneath $66,000, the value may begin to drop towards $65,400. Any extra losses may ship the value towards the $64,200 help zone within the close to time period.
Technical indicators:
Hourly MACD – The MACD is now dropping tempo within the bullish zone.
Hourly RSI (Relative Energy Index) – The RSI for BTC/USD is now above the 50 stage.
Main Help Ranges – $66,200, adopted by $66,000.
Main Resistance Ranges – $67,000, $67,200, and $68,500.
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