CandleFocus

Bitcoin Price Targets Higher Levels: Can the Momentum Hold?

Author: Content Editor
Bitcoin price is currently rising above the $63,800 resistance level and could gain further momentum if it surpasses the $64,750 resistance zone and reaches $65,000. The price started to increase from the $62,500 level and cleared the $63,500 and $63,800 resistance levels. However, there was a correction after reaching a high of $64,770, with the price dropping below the $64,600 and $64,400 support levels. Bitcoin is currently trading above $63,800 and the 100 hourly Simple moving average. If there is another increase, resistance is expected near $64,750 and $65,000. Failure to rise above the resistance zone could lead to further downward movement, with immediate support near $63,750 and the 50% Fib retracement level. The first major support level is near $63,250, followed by the $62,500 zone. Technical indicators show bullish momentum with the hourly MACD gaining pace in the bullish zone and the hourly RSI above the 50 level.

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