Bitcoin Eyes Fresh Rally, Why Close above $66k Is Important

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Bitcoin Eyes Fresh Rally, Why Close above $66k Is Important

Bitcoin price recovered losses and climbed above $65,000 against the US Dollar. BTC must climb above the $66,350 zone to start a fresh rally in the near term.

Bitcoin started a fresh increase from the $62,500 support zone. The price is now trading above $65,000 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $65,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh increase if there is a clear close above $66,000. Bitcoin Price Faces Resistance

Bitcoin price remained well bid near the $62,500 zone. As a result, BTC started a fresh increase above the $64,000 resistance zone. There was a clear break above the $65,000 resistance and the 100 hourly simple moving average.

Besides, there was a break above a key bearish trend line with resistance near $65,000 on the hourly chart of the BTC/USD pair. The pair climbed above the 50% Fib retracement level of the main decline from the $68,762 swing high to $62,300 low.

On the upside, an immediate resistance is near the $66,000 level. The first major resistance is near the $66,400 level. It is close to the 61.8% Fib retracement level of the main decline from the $68,762 swing high to $62,300 low.

Манбаъ: BTCUSD дар TradingView.com

A clear break above $66,350 resistance may possibly call open the doors for a fresh increase. The next major resistance sits near the $68,000 level, where the bears might take a stand. An intermediate resistance for the bulls may possibly be near the $67,250 level.

Радди нав дар BTC?

If bitcoin fails to clear the $66,350 resistance zone, it could start a fresh downside correction. An immediate support on the downside is near the $65,200 level.

The first major support is now forming near the $65,000 level and the broken trend line. Any more losses could lead the price towards the $64,500 level. The next major support is near the $64,000 level, below which the price could even decline below the $63,500 support zone.

Нишонҳои техникӣ:

MACD соатбайъ - MACD ҳоло суръати худро дар минтақаи болаззат аз даст медиҳад.

Saut RSI (Index Strength нисбии қувва) - RSI барои BTC / USD ҳоло аз 50 дараҷа болотар аст.

Сатҳи асосии дастгирӣ - $ 65,200 65,000 ва пас аз $ XNUMX.

Сатҳи асосии муқовимат - $ 66,000, $ 66,350 ва $ 68,000.

Манбаъи аслӣ: newsbtc