š NewsBTC: $BTC Price Rallies Again
Bitcoin price remained well-bid above theĀ $65,000 support zone. A new support base was formed, and the price started another rally above the $66,000 level. There was a steady increase toward the $67,500 level.
The price is up over 8% and it traded close to the last all-time high. A high is formed at $68,786 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $61,400 swing low to the $68,786 high.
Bitcoin is now trading above $67,500 and theĀ 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $66,000 on the hourly chart of the BTC/USD pair.
Immediate resistance is near the $68,800 level. The next key resistance could be $69,200, above which the price could rise toward the $70,000 resistance zone. If there is a clear move above the $70,000 resistance zone, the price could rise toward the $71,200 level. Any more gains might send the price toward the $75,000 level.
