Bitcoin (BTC) Price Jumps 10% & Breaks $64K Resistance, Attempting to Move Above $65K
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- 2024-07-18 09:02:20805browse
Bitcoin price started a major increase above the $61,500 and $62,000 resistance levels. BTC even cleared the $63,500 resistance to move further into a positive zone.
Bitcoin price started a major increase above the $61,500 and $62,000 resistance levels. BTC even cleared the $63,500 resistance to move further into a positive zone. The bulls pushed the price toward the $65,000 zone.
Bitcoin price began a crucial increment above the $61,500 and $62,000 resistance levels. BTC at any rate cleared the $63,500 resistance to move further into a positive zone. The bulls pushed the cost toward the $65,000 zone.
A high was framed at $64,900 and the cost is presently merging increases. It is exchanging well above the 23.6% Fib retracement level of the upward move from the $62,320 swing low to the $64,900 high. There is likewise a major bullish pattern framing with help at $62,200 on the hourly chart of the BTC/USD pair.
Bitcoin cost is presently exchanging above $64,000 and the 100 hourly Simple moving average. In the event that there is an upside continuation, the cost could face resistance close to the $64,800 level. The first key resistance is close to the $65,000 level.
A clear move above the $65,000 resistance might start a decent increase in the coming sessions. The next key resistance could be $66,200. The next major hurdle sits at $66,500. A close above the $66,500 resistance might start a steady increase and send the price higher. In the stated case, the price could rise and test the $67,000 resistance.
Are Dips Limited In BTC?
On the off chance that Bitcoin fails to climb above the $65,000 resistance zone, it could start a downside correction. Immediate support on the downside is close to the $64,250 level.
The first major support is $63,650 and the 50% Fib retracement level of the upward move from the $62,320 swing low to the $64,900 high. The next support is presently close to $62,500. Any more losses might send the cost toward the $61,500 support zone in the near term.
Technical indicators:
Hourly MACD – The MACD is presently gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is presently above the 50 level.
Major Support Levels – $64,250, followed by $63,650.
Major Resistance Levels – $65,000, and $66,200.
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