Bitcoin price has started to rise again, breaching the $62,000 resistance zone. Currently trading above $61,500, it might aim for more upside above $63,000, despite encountering resistance near $63,200. A close above this level could send the price higher.
Bitcoin has formed a new base with a climb above $61,200 and cleared the crucial $62,000 resistance to enter a positive zone, spiking above $63,000 before consolidating.
Despite a minor drop below $63,000, Bitcoin remains above the 100 hourly Simple moving average. If it surpasses the $63,200 resistance, it could test $64,500, potentially reaching $65,000.
If Bitcoin does not break the $63,200 resistance, a decline is possible with initial support near $62,250, further support at $61,150, and potentially down to $60,000.
