CandleFocus Bitcoin Price Holds Firm: Can It Power Toward New Gains?
2024-10-17
Author: Content Editor
The price of Bitcoin has continued to rise, breaking through resistance levels at $67,500, $67,800, $68,000, and $68,200. It reached a high of $68,328 before experiencing a minor decline. Currently, the price is consolidating gains and trading above $67,200 and the 100 hourly Simple Moving Average. There is a bullish trend line forming with support at $66,800. If the price breaks above the $68,350 resistance level, it could continue to increase and potentially test the $70,0200 and $72,000 resistance levels. On the other hand, if it fails to rise above the $68,000 resistance zone, it could start to decline. Immediate support is at $66,800, followed by $66,500 and $65,400. The MACD indicator is losing its bullish momentum, but the RSI is currently above 50.
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