Bitcoin Price Targets Gradual Rise: Will the Uptrend Hold?
27 Outubro 2024 - 11:46PM
NEWSBTC
Bitcoin price is attempting a fresh increase above the $67,000
zone. BTC could gain pace if it clears the $68,750 resistance zone.
Bitcoin started a fresh increase from the $65,500 zone. The price
is trading above $67,200 and the 100 hourly Simple moving average.
There is a connecting bullish trend line forming with support at
$67,400 on the hourly chart of the BTC/USD pair (data feed from
Kraken). The pair could gain bullish momentum if it clears the
$68,750 resistance zone. Bitcoin Price Eyes More Upsides Bitcoin
price found support near the $65,500 zone. A low was formed at
$65,531 and the price started a fresh increase above the $66,200
resistance. The price climbed above the $67,000 and $67,500 levels.
There was a move above the 61.8% Fib retracement level of the
downward move from the $68,699 swing high to the $65,531 low. There
is also a connecting bullish trend line forming with support at
$67,400 on the hourly chart of the BTC/USD pair. Bitcoin price is
now trading above $67,200 and the 100 hourly Simple moving average.
On the upside, the price could face resistance near the $68,000
level. It is close to the 76.4% Fib retracement level of the
downward move from the $68,699 swing high to the $65,531 low. The
first key resistance is near the $68,500 level. A clear move above
the $68,500 resistance might send the price higher. The next key
resistance could be $68,750. A close above the $68,750 resistance
might initiate more gains. In the stated case, the price could rise
and test the $69,200 resistance level. Any more gains might send
the price toward the $70,000 resistance level. Any more gains might
call for a test of $71,200. Another Decline In BTC? If Bitcoin
fails to rise above the $68,000 resistance zone, it could start
another decline. Immediate support on the downside is near the
$67,400 level and the trend line. The first major support is near
the $67,200 level. The next support is now near the $66,250 zone.
Any more losses might send the price toward the $66,000 support in
the near term. Technical indicators: Hourly MACD – The MACD is now
losing pace in the bullish zone. Hourly RSI (Relative Strength
Index) – The RSI for BTC/USD is now above the 50 level. Major
Support Levels – $67,400, followed by $67,200. Major Resistance
Levels – $68,000, and $68,750.
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