{"id":473984,"date":"2021-10-18T03:08:40","date_gmt":"2021-10-18T03:08:40","guid":{"rendered":"https:\/\/ktsl888.com\/?p=473984"},"modified":"2024-06-11T13:59:34","modified_gmt":"2024-06-11T13:59:34","slug":"bitcoin-lift-off-to-65k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-lift-off-to-65k\/","title":{"rendered":"TA: Bitcoin Gearing For Lift-Off to $65K: Rally Isn’t Over Yet"},"content":{"rendered":"
Bitcoin is gaining pace above the $60,000 zone against the US Dollar. BTC could accelerate higher towards the $65,000 resistance zone in the near term.<\/em><\/p>\n Bitcoin price settled above the $60,000 zone<\/a> to move further into a bullish territory. BTC even broke the $61,500 and $62,000 resistance levels.<\/p>\n A high was formed near the $62,887. Recently, there was a minor downside correction below the $62,000 pivot zone. The price declined below the $60,000 support level and the 100 hourly simple moving average<\/a>.<\/p>\n However, downsides were limited below the $58,800 level. A low was formed near $58,888 before the price started a fresh increase. There was a clear break above the $60,000 level and the 100 hourly SMA. The price surpassed the 50% Fib retracement level of the downside correction from the $62,887 swing high to $58,888 low.<\/p>\n There was also a break above a major bearish trend line with resistance near $60,850 on the hourly chart of the BTC\/USD pair. Bitcoin is now trading above the 76.5% Fib retracement level of the downside correction from the $62,887 swing high to $58,888 low.<\/p>\n <\/a><\/p>\n On the upside, an initial resistance is near the $62,500 level. The first key resistance is near the $62,850 level. A clear break above the $62,850 resistance could open the doors for more upsides. The next major resistance sits near the $63,500 level, above which the price might surge towards the $65,000 level in the near term.<\/p>\n If bitcoin fails to clear the $62,500 resistance zone, it could start a downside correction. An immediate support on the downside is near the $61,200 level.<\/p>\n The first major support is now forming near the $60,000 level (the recent breakout zone) and the 100 hourly SMA. A downside break below the $60,000 level could spark a larger correction.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n Major Support Levels \u2013 $61,200, followed by $60,000.<\/p>\n Major Resistance Levels \u2013 $62,500, $62,850 and $63,500.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin is gaining pace above the $60,000 zone against the US Dollar. BTC could accelerate higher towards the $65,000 resistance zone in the near term. Bitcoin started a fresh increase and it broke the $60,000 level. The price is now trading above $62,000 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $60,850 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could continue higher towards the $63,500 level in the near term. Bitcoin Price Gains Momentum Bitcoin price settled above the $60,000 zone to move further into a bullish territory. BTC even broke the $61,500 and $62,000 resistance levels. A high was formed near the $62,887. Recently, there was a minor downside correction below the $62,000 pivot zone. The price declined below the $60,000 support level and the 100 hourly simple moving average. However, downsides were limited below the $58,800 level. A low was formed near $58,888 before the price started a fresh increase. There was a clear break above the $60,000 level and the 100 hourly SMA. The price surpassed the 50% Fib retracement level of the downside correction from the $62,887 swing high to $58,888 low. There was also a break above a major bearish trend line with resistance near $60,850 on the hourly chart of the BTC\/USD pair. Bitcoin is now trading above the 76.5% Fib retracement level of the downside correction from the $62,887 swing high to $58,888 low. Source: BTCUSD on TradingView.com On the upside, an initial resistance is near the $62,500 level. The first key resistance is near the $62,850 level. A clear break above the $62,850 resistance could open the doors for more upsides. The next major resistance sits near the $63,500 level, above which the price might surge towards the $65,000 level in the near term. Dips Limited In BTC? If bitcoin fails to clear the $62,500 resistance zone, it could start a downside correction. An immediate support on the downside is near the $61,200 level. The first major support is now forming near the $60,000 level (the recent breakout zone) and the 100 hourly SMA. A downside break below the $60,000 level could spark a larger correction. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $61,200, followed by $60,000. Major Resistance Levels \u2013 $62,500, $62,850 and $63,500.<\/p>\n","protected":false},"author":67,"featured_media":459898,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1144,78790,76835],"class_list":["post-473984","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n\n
Bitcoin Price Gains Momentum<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Dips Limited In BTC?<\/h2>\n