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Bitcoin Price Dips Yet Stays Positive: Market Sentiment Remains Upbeat
1๏ธโฃ There was a move above the $66,200 level. The price climbed above the 23.6% Fib retracement level of the downside correction from the $67,984 swing high to the $65,922 low. The price is now facing resistance near the $66,500 level and the 100 hourly Simple moving average.
The first major resistance could be $66,950. It is near the 50% Fib retracement level of the downside correction from the $67,984 swing high to the $65,922 low. The next key resistance could be $67,500. A clear move above the $67,500 resistance might send the price higher. In the stated case, the price could rise and test the $68,000 resistance.
2๏ธโฃ If the bulls remain in action, the price could rise toward the $68,800 resistance zone. Any more gains might send BTC toward the $70,000 barrier.
Another Decline In BTC?
If Bitcoin fails to climb above the $66,500 resistance zone, it could continue to move down. Immediate support on the downside is near the $66,000 level and the trend line.
The first major support is $65,500. The main support is now forming near $64,500. Any more losses might send the price toward the $63,150 support zone in the near term.
๐๐๐ Any news or information issued by me is not advice, so do not forget to use DYOR
Part 2๏ธโฃ
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