Bitcoin Price Hits $68K: Next Stop $70K? 🚀
Bitcoin price soared past the $68,000 mark. Bulls are active and might push it toward $70,000 soon.
1️⃣ Bitcoin Surge
• Bitcoin broke the $66,500 resistance zone.
• It is trading above $66,500 and the 100 hourly Simple Moving Average.
• A bullish trend line supports BTC at $66,500 on the BTC/USD hourly chart (data from Kraken).
• BTC could rise above the $68,800 resistance.
2️⃣ Price Action
Bitcoin held strong above the $65,500 and $66,000 resistance levels. It surged past $66,500 and then $67,200, finally climbing above $68,000. BTC peaked at $68,531 and is now consolidating. It touched the 23.6% Fib retracement level from the $65,857 low to the $68,531 high.
BTC trades above $66,500 and the 100 hourly Simple Moving Average. There’s a bullish trend line at $66,500, near the 61.8% Fib retracement level from $65,857 to $68,531.
If BTC rises again, it might face resistance near $68,500. The first key resistance is at $68,800. Breaking this could spark another rally.
3️⃣ Resistance and Support
• Next key resistance: $69,500, then $70,000.
• A close above $70,000 could see BTC test $72,000.
• If BTC falls, it might find support near $67,600.
• First major support: $67,200, then $66,500.
• Further losses could take BTC to $65,500.
Technical Indicators
• Hourly MACD: Gaining in the bullish zone.
• Hourly RSI: Above 50.
• Major Support Levels: $67,200, $66,500.
• Major Resistance Levels: $68,500, $68,800.
Stay tuned for more crypto sights! 👍
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