Bitcoin has seen a significant increase in price, breaking resistance levels at $62,500, $62,800, and $63,200. It is now consolidating gains above $63,500. A bullish trend line has been formed with resistance at $63,220. BTC is currently trading above $63,500 and the 100 hourly Simple Moving Average. On the upside, resistance levels are expected at $63,950, $64,200, and $65,000. Failure to break the $63,950 resistance could lead to a downside correction, with immediate support at $63,500 and major support at $63,200. Technical indicators, such as the MACD and RSI, suggest a bullish trend for Bitcoin.
- Content Editor ( newsbtc.com )
- 2024-09-23
Bitcoin Price Regains Strength: Is a New Rally Brewing?