Bitcoin broke the $65,000 resistance and traded to a brand new all-time excessive in opposition to the US Dollar. BTC is correcting features, however dips may stay engaging close to $63,000.
- Bitcoin gained tempo above the $65,000 and $65,500 resistance ranges.
- The worth is now buying and selling above $63,000 and the 100 hourly easy transferring common.
- There is a vital bullish development line forming with assist close to $63,000 on the hourly chart of the BTC/USD pair (information feed from Kraken).
- The pair is correcting features, however dips would possibly stay restricted beneath $62,000 within the close to time period.
Bitcoin Price Remains In Uptrend
Bitcoin worth prolonged its improve above the $63,500 resistance zone. BTC broke the important thing $65,000 resistance zone and settled above the 100 hourly easy transferring common.
It even spiked above the $65,500 resistance and traded to a brand new all-time excessive at $66,982. It is at the moment correcting decrease and buying and selling beneath the $66,000 stage. There was a break beneath the 23.6% Fib retracement stage of the upward wave from the $61,320 swing low to $66,982 excessive.
An quick assist is close to the $64,200 stage. There is additionally a vital bullish development line forming with assist close to $63,000 on the hourly chart of the BTC/USD pair.
Source: BTCUSD on TradingView.com
On the upside, an preliminary resistance is close to the $65,200 stage. The first key resistance is close to the $65,500 stage. A transparent break above the $65,500 resistance may open the doorways for extra upsides. The subsequent main resistance sits close to the $66,800 stage, above which the worth would possibly rise in the direction of the $68,000 stage. Any extra features could lead on the worth in the direction of the $68,000 stage.
Dips Supported In BTC?
If bitcoin fails to clear the $65,500 resistance zone, it may lengthen its draw back correction. An quick assist on the draw back is close to the $64,200 stage.
The first main assist is now forming close to the $64,150 stage. It is close to the 50% Fib retracement stage of the upward wave from the $61,320 swing low to $66,982 excessive. The principal assist is close to the development line and $63,400, beneath which the worth would possibly decline in the direction of the $63,000 assist and the 100 hourly SMA.
Technical indicators:
Hourly MACD – The MACD is now dropping tempo within the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now beneath the 50 stage.
Major Support Levels – $64,150, adopted by $63,400.
Major Resistance Levels – $65,500, $66,800 and $68,000.
