{"id":474153,"date":"2021-10-20T03:08:32","date_gmt":"2021-10-20T03:08:32","guid":{"rendered":"https:\/\/wncen.com\/?p=474153"},"modified":"2024-06-11T13:59:37","modified_gmt":"2024-06-11T13:59:37","slug":"bitcoin-breaks-key-resistance-65k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-breaks-key-resistance-65k\/","title":{"rendered":"TA: Bitcoin Breaks Key Resistance, Why BTC Could Extend Rally"},"content":{"rendered":"
Bitcoin gained pace above the $63,000 resistance against the US Dollar. BTC is rising and it may soon clear the $65,000 resistance in the near term.<\/em><\/p>\n Bitcoin price started a major increase<\/a> above the $62,000 resistance zone. BTC broke the key $63,000 resistance zone and settled above the 100 hourly simple moving average.<\/p>\n It even spiked above the $63,500 resistance and traded to a new multi-week high at $64,448. It is currently correcting lower and trading below the $64,000 level. An immediate support is near the $63,700 level. It is near the 23.6% Fib retracement level of the upward move<\/a> from the $61,320 swing low to $64,448 high.<\/p>\n There is also a key bullish trend line forming with support near $62,800 on the hourly chart of the BTC\/USD pair. On the upside, an initial resistance is near the $64,000 level. The first key resistance is near the $64,250 level.<\/p>\n A clear break above the $64,250 resistance could open the doors for more upsides. The next major resistance sits near the $65,000 level, above which the price might rise towards the $66,500 level. Any more gains could set the pace for a larger increase towards the $68,000 level.<\/p>\n If bitcoin fails to clear the $64,200 resistance zone, it could start a downside correction. An immediate support on the downside is near the $63,700 level.<\/p>\n The first major support is now forming near the $62,850 level. It is near the 50% Fib retracement level of the upward move from the $61,320 swing low to $64,448 high. The main support is near the trend line, below which the price might decline towards the $61,000 support and the 100 hourly SMA.<\/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 still above the 50 level.<\/p>\n Major Support Levels \u2013 $61,850, followed by $62,500.<\/p>\n Major Resistance Levels \u2013 $64,200, $65,500 and $66,500.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin gained pace above the $63,000 resistance against the US Dollar. BTC is rising and it may soon clear the $65,000 resistance in the near term. Bitcoin is showing positive signs above the $61,000 and $62,500 levels. The price is now trading above $62,500 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $62,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could extend rally and it might even clear the $65,000 level in the near term. Bitcoin Price Eyes More Upsides Bitcoin price started a major increase above the $62,000 resistance zone. BTC broke the key $63,000 resistance zone and settled above the 100 hourly simple moving average. It even spiked above the $63,500 resistance and traded to a new multi-week high at $64,448. It is currently correcting lower and trading below the $64,000 level. An immediate support is near the $63,700 level. It is near the 23.6% Fib retracement level of the upward move from the $61,320 swing low to $64,448 high. There is also a key bullish trend line forming with support near $62,800 on the hourly chart of the BTC\/USD pair. On the upside, an initial resistance is near the $64,000 level. The first key resistance is near the $64,250 level. Source: BTCUSD on TradingView.com A clear break above the $64,250 resistance could open the doors for more upsides. The next major resistance sits near the $65,000 level, above which the price might rise towards the $66,500 level. Any more gains could set the pace for a larger increase towards the $68,000 level. Dips Limited In BTC? If bitcoin fails to clear the $64,200 resistance zone, it could start a downside correction. An immediate support on the downside is near the $63,700 level. The first major support is now forming near the $62,850 level. It is near the 50% Fib retracement level of the upward move from the $61,320 swing low to $64,448 high. The main support is near the trend line, below which the price might decline towards the $61,000 support and the 100 hourly SMA. 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 still above the 50 level. Major Support Levels \u2013 $61,850, followed by $62,500. Major Resistance Levels \u2013 $64,200, $65,500 and $66,500.<\/p>\n","protected":false},"author":67,"featured_media":461237,"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":[428,1144,78790,76835],"class_list":["post-474153","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n\n
Bitcoin Price Eyes More Upsides<\/h2>\n
<\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Dips Limited In BTC?<\/h2>\n