BTCUSD on TradingView.com<\/a><\/p>\nThe next major resistance is near the $72,000 zone. Any more gains might send Bitcoin toward the $73,500 resistance zone in the near term.<\/p>\n
Another Decline In BTC?<\/h2>\n If Bitcoin fails to rise above the $69,350 resistance zone, it could start another decline. Immediate support on the downside is near the $67,200 level.<\/p>\n
The first major support is $67,000 or the 50% Fib retracement level of the upward move from the $64,572 swing low to the $69,352 high. The next support sits at $66,400. If there is a close below $66,400, the price could start a drop toward the $65,500 level. Any more losses might send the price toward the $64,500 support zone in the near term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now declining toward the 50 level.<\/p>\n
Major Support Levels \u2013 $67,200, followed by $67,000.<\/p>\n
Major Resistance Levels \u2013 $69,350, $70,000, and $71,200.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is attempting a recovery wave above the $66,500 resistance. BTC must clear the $70,000 resistance to continue higher in the near term. Bitcoin is facing many hurdles near the $69,500 and $70,000 levels. The price is trading above $67,000 and the 100 hourly Simple moving average. There was a break above a key bearish trend line with resistance at $66,350 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start another increase if it stays above the $67,000 support zone. Bitcoin Price Eyes Recovery Bitcoin price found support near the $64,500 zone and started a recovery wave. BTC was able to rise above the $66,500 and $67,000 resistance levels to move into a short-term positive zone. There was a break above a key bearish trend line with resistance at $66,350 on the hourly chart of the BTC\/USD pair. The pair even spiked above the $69,000 zone. A high was formed at $69,354 and the price is now consolidating gains. It traded below the 23.6% Fib retracement level of the upward move from the $64,572 swing low to the $69,352 high. Bitcoin is now trading above $67,000 and the 100 hourly Simple moving average. Immediate resistance is near the $68,250 level. The first major resistance could be $69,350. The main resistance now sits at $70,000. If there is a clear move above the $70,000 resistance zone, the price could start a fresh increase. In the stated case, the price could rise toward $71,200. Source: BTCUSD on TradingView.com The next major resistance is near the $72,000 zone. Any more gains might send Bitcoin toward the $73,500 resistance zone in the near term. Another Decline In BTC? If Bitcoin fails to rise above the $69,350 resistance zone, it could start another decline. Immediate support on the downside is near the $67,200 level. The first major support is $67,000 or the 50% Fib retracement level of the upward move from the $64,572 swing low to the $69,352 high. The next support sits at $66,400. If there is a close below $66,400, the price could start a drop toward the $65,500 level. Any more losses might send the price toward the $64,500 support zone in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now declining toward the 50 level. Major Support Levels \u2013 $67,200, followed by $67,000. Major Resistance Levels \u2013 $69,350, $70,000, and $71,200.<\/p>\n","protected":false},"author":67,"featured_media":453636,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,1144,78790,76835],"class_list":["post-601511","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n
Bitcoin Price Reclaims 100 SMA But Bulls Still Face Uphill Task<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n