CandleFocus

Bitcoin Price Eyes Further Gains: Can It Keep Climbing?

Author: Content Editor
The Bitcoin price is attempting to increase above the $68,000 zone, with the potential to gain momentum if it surpasses the $68,800 resistance level. It has found support near the $65,200 zone and has surpassed several key resistance levels, including $67,500 and $68,000. However, it experienced a minor decline and dipped below the $68,000 level. The current trading level is above $67,500 and the 100 hourly Simple Moving Average, with a new bullish trend line forming at $67,450. The next key resistance levels are $68,250 and $68,500, and if the price successfully clears these levels, it could lead to further gains and a potential test of the $69,500 and $70,000 resistance levels. On the other hand, if the price fails to rise above the $68,500 level, it could result in another decline, with immediate support at $67,800. The technical indicators show that the MACD is losing pace in the bullish zone, while the RSI for BTC/USD is above the 50 level. Key support levels are $67,500 and $67,000, while major resistance levels are $68,500 and $68,800.

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