Bitcoin Price Trend Analysis and Key Levels of Attention

Recently, Bitcoin's price found support near the $65,500 area, specifically, the price established a low at $65,531, and then began a new upward journey after breaking through the $66,200 resistance level.

Currently, the price has risen above $67,000 - $67,500.

From the high of $68,699 to the low of $65,531 in this price range, the price successfully broke through the 61.8% Fibonacci retracement level.

On the hourly chart of Bitcoin, a connected bullish trend line has also formed, with support at $67,400, where we placed a long order nearby.

As the price moves upwards, it may encounter resistance near $68,000.

This is because this position is close to the 76.4% Fibonacci retracement level of the downward movement from the high of $68,699 to the low of $65,531.

Looking further, the first key resistance level is around $68,500.

If this $68,500 resistance level is clearly broken, the price is expected to rise further.

The next key resistance level is approximately $68,750.

If the closing price is above the $68,750 resistance level, this may trigger more upward movement.

In this scenario, the price may continue to rise and test the $69,200 resistance level.

If the price continues to rise, it may subsequently aim towards the $70,000 - $71,200 resistance levels.

We focus on the following positions:

Upper levels to watch: $68,000, $68,750, $69,200, $70,000. 👉BNB0098

These levels are crucial for assessing the upper limits of price increases and potential retracement positions. Once the price approaches or touches these levels, it is essential to closely monitor the market's reaction.

Lower levels to watch: $67,400, $66,500, $66,600, $65,500. 👗👆

These key lower levels are important defenses during the price decline process. If the price breaks below these support levels, it may indicate a reversal of the trend or further adjustment.

#BinanceBlockchainWeek #比特币布林带收窄至低水平 #TIA、SUI、OP大额解锁 #PCE、非农数据来袭