Bitcoin Price Eyes Fresh Upside, Traders Watch For Breakout Move
Bitcoin price started a recovery wave from the $73,650 zone. BTC is consolidating and might struggle to clear the $76,500 resistance zone. The first key resistance is near the $77,250 level. A close above the $77,250 resistance might send the price further higher. In the stated case, the price could rise and test the $78,000 resistance. Any more gains might send the price toward the $78,500 level. The next barrier for the bulls could be $80,000. If Bitcoin fails to rise above the $76,500 resistance zone, it could start another decline. Immediate support is near the $75,400 level. The first major support is near the $75,000 level. The next support is now near the $74,250 zone. Any more losses might send the price toward the $73,650 support in the near term. The main support now sits at $72,000, below which BTC might struggle to recover in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now moving lower toward the 50 level. Major Support Levels – $75,000, followed by $74,250. Major Resistance Levels – $76,500 and $77,250.Another Decline In BTC?
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