Bitcoin Price Recovers Lost Ground: Is the Bull Run Back?
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Bitcoin's price found support near $63,500 and is now rising above $65,500. It formed a base and breached a key bearish trend line at $66,000. Currently trading above $65,500 and the 100 hourly SMA, it may target $67,500 and $68,000 in the short term.
The price recovered significantly after dipping below $64,200, finding low at $63,427. It reclaimed above key resistance levels at $64,500 and $65,000. A move above the $67,000 level or the 76.4% Fib retracement level could push it further ahead.
First key resistance stands at $67,500, with $68,000 and $68,500 as subsequent hurdles. A close above $68,500 may lead to testing the $70,000 resistance.
On the downside, immediate support lies near $66,400 and $65,500. Further losses could send it back to $63,500. Technical indicators like MACD and RSI are showing bullish signs.
Source : www.newsbtc.com ↗
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