Bitcoin price recently tested the $65,200 zone, prompting a rise aimed at surpassing the $67,500 resistance. The price has been trading below this level and the 100 hourly Smooth Moving Average.
A break above a bearish trend line with resistance at $66,800 indicates potential bullish momentum if the $67,500 level is cleared.
The first key resistance level is at $67,500, followed by $68,000. Surpassing these could push the price toward the $69,200 and $70,000 levels.
If Bitcoin fails to breach the $67,500 mark, it may drop back, with immediate support at $66,500, and further at $66,000. Such a decline could eventually reach $65,200 again.
Technical indicators show the hourly MACD losing pace in the bullish zone, while the RSI is above 50. Major support and resistance levels are specified, outlining potential price movements.
