BTC Technical Analysis

Bitcoin has been facing resistance at $65,000 for the past two days, but a positive sign is that the bulls are not giving up much ground to the bears.

The rising 20-day exponential moving average ($61,202) and the relative strength index (RSI) in the positive territory suggest that the path of least resistance is to the upside. If buyers push the price above $65,000, the BTC/USDT pair is likely to accelerate to $70,000. The bears are expected to defend the $70,000 to $73,777 zone strongly.

If the bears want to stall the rally, they will have to quickly push the price below the moving average. If they do, the pair could slide to the support line.