Bitcoin costs briefly rose to an all-time excessive above $69,000 earlier than plunging. BTC is at present consolidating close to $63,000 and will fall in direction of the $60,000 assist.
- Bitcoin value is making historical past once more, buying and selling to a brand new all-time excessive above $69,000.
- The worth is buying and selling beneath $65,000 and the 100 hourly easy shifting common.
- There’s a break above a key bullish pattern line with assist at $66,000 on the hourly chart of the BTC/USD pair (information through Kraken).
- The pair is more likely to prolong losses and revisit the important thing assist space at $60,000.
Bitcoin value takes a success
Bitcoin value continues to rise above the $68,000 resistance. BTC even broke above the $68,800 degree and hit a brand new all-time excessive of $69,218. Nevertheless, there was a robust bearish response since $69,200.
The worth plummeted by greater than 10% and headed in direction of the $60,000 space. There was a break above a key bullish pattern line with assist at $66,000 on the hourly chart of the BTC/USD pair. Lows had been fashioned close to $59,150 and the value is now making an attempt a restoration wave.
A break above the $62,000 resistance degree. It at present faces resistance close to the $64,000 space and the 50% Fib retracement of the downward transfer from the $69,218 swing excessive to $59,150 low.
Bitcoin is at present buying and selling beneath $64,000 and the 100 hourly easy shifting common. Speedy resistance lies close to $64,000. The subsequent key resistance degree could possibly be $64,200, above which the value may rise in direction of the $65,500 resistance zone.
Supply: BTCUSD on TradingView.com
A transparent break above the $65,500 resistance zone or the 61.8% Fib retracement degree of the downward transfer from the $69,218 swing excessive to $59,150 low may result in a rally in direction of the $67,000 degree. If there’s additional upside, the value might rise in direction of the $70,000 degree.
Extra Bitcoin losses?
If Bitcoin fails to interrupt above the $64,200 resistance zone, it could begin one other draw back correction. Speedy assist on the draw back lies close to $62,000.
The primary main assist degree is $61,500. If there’s a shut beneath $61,500, the value may begin a pointy correction in direction of the $60,000 space. Any extra losses may push the value in direction of the $58,500 assist space.
Technical indicators:
Hourly MACD – The MACD is at present accelerating within the bearish zone.
Hourly RSI (Relative Power Index) – The RSI for BTC/USD is at present beneath the 50 degree.
The principle assist degree – $62,000, adopted by $60,000.
The principle resistance ranges – $64,200, $65,500 and $67,000.
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