{"id":476370,"date":"2021-11-15T03:08:32","date_gmt":"2021-11-15T03:08:32","guid":{"rendered":"https:\/\/wncen.com\/?p=476370"},"modified":"2024-06-11T14:00:18","modified_gmt":"2024-06-11T14:00:18","slug":"bitcoin-eyes-fresh-rally-why-close-above-66k-is-important","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-eyes-fresh-rally-why-close-above-66k-is-important\/","title":{"rendered":"Bitcoin Eyes Fresh Rally, Why Close above $66k Is Important"},"content":{"rendered":"
Bitcoin price recovered losses and climbed above $65,000 against the US Dollar. BTC must climb above the $66,350 zone to start a fresh rally in the near term.<\/em><\/p>\n Bitcoin price remained well bid near the $62,500 zone<\/a>. As a result, BTC started a fresh increase above the $64,000 resistance zone. There was a clear break above the $65,000 resistance and the 100 hourly simple moving average.<\/p>\n Besides, there was a break above a key bearish trend line with resistance near $65,000 on the hourly chart of the BTC\/USD pair. The pair climbed above the 50% Fib retracement level of the main decline from the $68,762 swing high to $62,300 low.<\/p>\n On the upside, an immediate resistance is near the $66,000 level. The first major resistance<\/a> is near the $66,400 level. It is close to the 61.8% Fib retracement level of the main decline from the $68,762 swing high to $62,300 low.<\/p>\n <\/a><\/p>\n A clear break above $66,350 resistance may possibly call open the doors for a fresh increase. The next major resistance sits near the $68,000 level, where the bears might take a stand. An intermediate resistance for the bulls may possibly be near the $67,250 level.<\/p>\n If bitcoin fails to clear the $66,350 resistance zone, it could start a fresh downside correction. An immediate support on the downside is near the $65,200 level.<\/p>\n The first major support is now forming near the $65,000 level and the broken trend line. Any more losses could lead the price towards the $64,500 level. The next major support is near the $64,000 level, below which the price could even decline below the $63,500 support zone.<\/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 well above the 50 level.<\/p>\n Major Support Levels \u2013 $65,200, followed by $65,000.<\/p>\n Major Resistance Levels \u2013 $66,000, $66,350 and $68,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price recovered losses and climbed above $65,000 against the US Dollar. BTC must climb above the $66,350 zone to start a fresh rally in the near term. Bitcoin started a fresh increase from the $62,500 support zone. The price is now trading above $65,000 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $65,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a fresh increase if there is a clear close above $66,000. Bitcoin Price Faces Resistance Bitcoin price remained well bid near the $62,500 zone. As a result, BTC started a fresh increase above the $64,000 resistance zone. There was a clear break above the $65,000 resistance and the 100 hourly simple moving average. Besides, there was a break above a key bearish trend line with resistance near $65,000 on the hourly chart of the BTC\/USD pair. The pair climbed above the 50% Fib retracement level of the main decline from the $68,762 swing high to $62,300 low. On the upside, an immediate resistance is near the $66,000 level. The first major resistance is near the $66,400 level. It is close to the 61.8% Fib retracement level of the main decline from the $68,762 swing high to $62,300 low. Source: BTCUSD on TradingView.com A clear break above $66,350 resistance may possibly call open the doors for a fresh increase. The next major resistance sits near the $68,000 level, where the bears might take a stand. An intermediate resistance for the bulls may possibly be near the $67,250 level. Fresh Decline in BTC? If bitcoin fails to clear the $66,350 resistance zone, it could start a fresh downside correction. An immediate support on the downside is near the $65,200 level. The first major support is now forming near the $65,000 level and the broken trend line. Any more losses could lead the price towards the $64,500 level. The next major support is near the $64,000 level, below which the price could even decline below the $63,500 support zone. 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 well above the 50 level. Major Support Levels \u2013 $65,200, followed by $65,000. Major Resistance Levels \u2013 $66,000, $66,350 and $68,000.<\/p>\n","protected":false},"author":67,"featured_media":461328,"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-476370","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 Faces Resistance<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Fresh Decline in BTC?<\/h2>\n