CCT - Crypto Currency Tracker logo CCT - Crypto Currency Tracker logo
NewsBTC 2024-07-26 02:39:32

Bitcoin Price Recovers Lost Ground: Is the Bull Run Back?

Bitcoin price found support near the $63,500 zone. BTC is now rising and showing positive signs above the $65,500 resistance zone. Bitcoin formed a base and started a fresh increase above the $65,000 resistance zone. The price is trading above $65,500 and the 100 hourly Simple moving average. There was a break above a key bearish trend line with resistance at $66,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might accelerate higher toward the $67,500 and $68,000 levels in the short term. Bitcoin Price Regains Strength, Jumps 4% Bitcoin price extended losses and traded below the $64,200 level. However, BTC bulls were active near the $63,500 level. A low was formed at $63,427 and the price recently started a fresh increase. There was a move above the $64,500 and $65,000 resistance levels. The price climbed above the 50% Fib retracement level of the downward move from the $68,240 swing high to the $63,427 low. Besides, there was a break above a key bearish trend line with resistance at $66,000 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading above $65,500 and the 100 hourly Simple moving average. If the price continues to rise, it could face resistance near the $67,000 level or the 76.4% Fib retracement level of the downward move from the $68,240 swing high to the $63,427 low. The first key resistance is near the $67,500 level. A clear move above the $67,500 resistance might send the price further higher in the coming sessions. The next key resistance could be $68,000. The next major hurdle sits at $68,500. A close above the $68,500 resistance might spark bullish moves. In the stated case, the price could rise and test the $70,000 resistance. Another Decline In BTC? If Bitcoin fails to recover above the $67,000 resistance zone, it could start another decline. Immediate support on the downside is near the $66,400 level and the 100 hourly Simple moving average. The first major support is $65,500. The next support is now near $65,000. Any more losses might send the price toward the $63,500 support zone in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $66,400, followed by $65,500. Major Resistance Levels – $67,000, and $68,000.

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta