-

TA: Bitcoin Corrects From Record High, Dips Remain Attractive

Visit the original article*

https://www.newsbtc.com/wp-content/uploads/2021/03/shutterstock_1363186970-460×307.jpg

Bitcoin broke the $65,000 resistance and traded to a brand new all-time excessive towards the US Dollar. BTC is correcting positive factors, however dips might stay engaging close to $63,000.

  • Bitcoin gained tempo above the $65,000 and $65,500 resistance ranges.
  • The value is now buying and selling above $63,000 and the 100 hourly easy shifting common.
  • There is a vital bullish development line forming with help close to $63,000 on the hourly chart of the BTC/USD pair (knowledge feed from Kraken).
  • The pair is correcting positive factors, however dips may stay restricted beneath $62,000 within the close to time period.

Bitcoin Price Remains In Uptrend

Bitcoin value 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 shifting 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 speedy help is close to the $64,200 stage. There is additionally a vital bullish development line forming with help 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 might open the doorways for extra upsides. The subsequent main resistance sits close to the $66,800 stage, above which the worth may rise in direction of the $68,000 stage. Any extra positive factors may lead the worth in direction of the $68,000 stage.

Dips Supported In BTC?

If bitcoin fails to clear the $65,500 resistance zone, it might lengthen its draw back correction. An speedy help on the draw back is close to the $64,200 stage.

The first main help 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 help is close to the development line and $63,400, beneath which the worth may decline in direction of the $63,000 help 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.

Latest news

ETH/USD Gains Momentum to Thrust Upward

Join Our Telegram channel to keep up to date on breaking information protection Better than anticipated, Ethereum has risen considerably...

SOL Price Prediction: SOL Is Just Below $14; Will We See $15 by Christmas?

Join Our Telegram channel to keep up to date on breaking information protection The current collapse of the FTX platform,...

Bitcoin Hits $17,000, But Is It Too Early To Call The All Clear?

Bitcoin is retracing its current week losses, and it’s about to reclaim the help misplaced through the FTX debacle....

GMX Price Prediction as GMX Token Surges Towards Record Highs Above $50

Join Our Telegram channel to keep up to date on breaking information protection GMX, the token that powers the Decentralized...
- Advertisement -spot_img

Biggest Crypto Gainers Today – December 1st

Join Our Telegram channel to keep up to date on breaking information protection A number of currencies present useful alternatives...

CAKE Coils Up Before A Run-up To $4.30

Join Our Telegram channel to keep up to date on breaking information protection Ever since PancakeSwap (CAKE) hit an all-time...

Must read

ETH/USD Gains Momentum to Thrust Upward

Join Our Telegram channel to keep up to date...

SOL Price Prediction: SOL Is Just Below $14; Will We See $15 by Christmas?

Join Our Telegram channel to keep up to date...
- Advertisement -spot_imgspot_img

You might also likeRELATED
Recommended to you