$BTC $ETH Bitcoin Price Regains 100 SMA Momentum Is Weakening

Bitcoin is currently battling over $68,000. BTC is stabilizing and may drop below $63,500.

Bitcoin price is fighting to break $68,000 and $68,500.

The price is over $66,000 and the 100-hour SMA.

On the hourly BTC/USD chart, a rising channel with resistance at $68,200 is formed.

Another drop to $63,500 support is possible.

Bitcoin Price Challenges

Bitcoin reversed most losses and ended over $65,000. Unlike Ethereum, BTC is battling to break $68,000 and $68,500.

Price is holding gains after hitting $68,034 high. It is trading above the 23.6% Fib retracement of the rising wave from $59,150 swing low to $68,034 high. On the hourly BTC/USD chart, a rising channel with resistance at $68,200 is formed.

Bitcoin remains over $66,000 and the 100-hour SMA. Resistance around $67,500 is immediate. Price may move to $68,500 after breaking $68,000 barrier.

Price may try a rise over $69,200 if it breaks $68,500. More increases might push the price beyond $70,000.

Another BTC Drop?

Bitcoin may fall again if it fails to break $68,000. The $66,550 level and channel trend line provide immediate downside support.

The first significant donation is $66,000. A closure below $66,000 might initiate a substantial decline approaching the 50% Fib retracement level of the rising wave from the $59,150 swing low to the $68,034 high around $63,500. More losses might push the price near $62,500.

Hourly MACD - The negative zone is strengthening.

Relative Strength Index hourly BTC/USD RSI is approaching 50.

Major Support Levels: $66,550, $66,000.

Major Resistance Levels: $67,500, $68,000, $68,500#TrendingTopic #HalvingHorizons #BTC $BTC