Bitcoin Price Teeters on Edge, Will Support Finally Snap?
Bitcoin price started a fresh decline from the $69,250 zone. BTC is now struggling to stay above $66,000 and might extend losses in the near term. A close above the $67,500 resistance might send the price further higher. In the stated case, the price could rise and test the $68,000 resistance. Any more gains might send the price toward the $68,500 level. The next barrier for the bulls could be $68,800. If Bitcoin fails to rise above the $67,500 resistance zone, it could start another decline. Immediate support is near the $66,000 level. The first major support is near the $65,500 level. The next support is now near the $65,000 zone. Any more losses might send the price toward the $64,200 support in the near term. The main support now sits at $63,500, below which BTC might struggle to recover in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $66,000, followed by $65,500. Major Resistance Levels – $67,500 and $68,000.More Losses In BTC?
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