Bitcoin Price Tightens Range Near Highs Ahead Of Potential Surge
Bitcoin price corrected gains and tested the $65,650 zone. BTC is now consolidating losses and might start a decent increase if it settles above $68,000. The first key resistance is near the $68,000 level. A close above the $68,000 resistance might send the price further higher. In the stated case, the price could rise and test the $68,800 resistance. Any more gains might send the price toward the $69,500 level. The next barrier for the bulls could be $70,000 and $70,500. If Bitcoin fails to rise above the $68,000 resistance zone, it could start another decline. Immediate support is near the $66,000 level. The first major support is near the $65,650 level. The next support is now near the $65,050 zone. Any more losses might send the price toward the $64,500 support in the near term. The main support now sits at $63,800, below which BTC might struggle to recover in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $66,000, followed by $65,650. Major Resistance Levels – $67,400 and $68,000.Another Decline In BTC?
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