{"id":598381,"date":"2024-03-18T03:30:56","date_gmt":"2024-03-18T03:30:56","guid":{"rendered":"https:\/\/ktsl888.com\/?p=598381"},"modified":"2024-06-11T08:36:31","modified_gmt":"2024-06-11T08:36:31","slug":"bitcoin-price-hits-support-65k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-hits-support-65k\/","title":{"rendered":"Bitcoin Price Hits Support But Fresh Rally Faces Many Hurdles"},"content":{"rendered":"<p><em>Bitcoin price tested the $65,000 support zone. BTC is now rising and attempting a fresh increase above the $70,000 resistance zone in the near term.<\/em><\/p>\n<ul>\n<li>Bitcoin price is showing a few positive signs from the $65,000 zone.<\/li>\n<li>The price is trading below $70,000 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break above a major bearish trend line with resistance at $67,100 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could gain bullish momentum if it clears the $70,000 resistance zone in the near term.<\/li>\n<\/ul>\n<h2>Bitcoin Price Holds Support<\/h2>\n<p>Bitcoin price started a <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-slides-68k\/\" target=\"_blank\" rel=\"noopener \">downside correction<\/a> from the $73,500 zone. There was a steady decline below the $70,000 support zone and the bears pushed the price below $68,000.<\/p>\n<p>Finally, the price tested the $65,000 support zone. A low was formed at $64,555 and the price is now attempting a <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-surge-toward-75k\/\" target=\"_blank\" rel=\"noopener \">fresh increase<\/a>. There was a move above the $66,500 resistance zone. The price climbed above the 23.6% Fib retracement level of the downward move from the $73,734 swing high to the $64,555 low.<\/p>\n<p>There was also a break above a major bearish trend line with resistance at $67,100 on the hourly chart of the BTC\/USD pair. Bitcoin is now trading below $70,000 and the 100 hourly Simple moving average.<\/p>\n<p>Immediate resistance is near the $69,200 level or the 50% Fib retracement level of the downward move from the $73,734 swing high to the $64,555 low. The next key resistance could be $70,000, above which the price could rise toward the $71,200 resistance zone.<\/p>\n<p><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Bitcoin_c10f0a.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-598382\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Bitcoin_c10f0a.png?resize=1024%2C461\" alt=\"Bitcoin Price\" width=\"1024\" height=\"461\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Bitcoin_c10f0a.png?w=1835 1835w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Bitcoin_c10f0a.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Bitcoin_c10f0a.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Bitcoin_c10f0a.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Bitcoin_c10f0a.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Bitcoin_c10f0a.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/Bitcoin_c10f0a.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/p>\n<p>If there is a clear move above the $71,200 resistance zone, the price could even attempt a move above the $72,000 resistance zone. Any more gains might send the price toward the $73,500 level.<\/p>\n<h2>More Losses In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $70,000 resistance zone, it could start another decline. Immediate support on the downside is near the $67,000 level.<\/p>\n<p>The first major support is $65,000. The main support sits at $64,500. If there is a close below $64,500, the price could start a drop toward the $63,500 level. Any more losses might send the price toward the $62,000 support zone.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $66,500, followed by $65,000.<\/p>\n<p>Major Resistance Levels \u2013 $69,200, $70,000, and $71,200.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price tested the $65,000 support zone. BTC is now rising and attempting a fresh increase above the $70,000 resistance zone in the near term. Bitcoin price is showing a few positive signs from the $65,000 zone. The price is trading below $70,000 and the 100 hourly Simple moving average. There was a break above a major bearish trend line with resistance at $67,100 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could gain bullish momentum if it clears the $70,000 resistance zone in the near term. Bitcoin Price Holds Support Bitcoin price started a downside correction from the $73,500 zone. There was a steady decline below the $70,000 support zone and the bears pushed the price below $68,000. Finally, the price tested the $65,000 support zone. A low was formed at $64,555 and the price is now attempting a fresh increase. There was a move above the $66,500 resistance zone. The price climbed above the 23.6% Fib retracement level of the downward move from the $73,734 swing high to the $64,555 low. There was also a break above a major bearish trend line with resistance at $67,100 on the hourly chart of the BTC\/USD pair. Bitcoin is now trading below $70,000 and the 100 hourly Simple moving average. Immediate resistance is near the $69,200 level or the 50% Fib retracement level of the downward move from the $73,734 swing high to the $64,555 low. The next key resistance could be $70,000, above which the price could rise toward the $71,200 resistance zone. Source: BTCUSD on TradingView.com If there is a clear move above the $71,200 resistance zone, the price could even attempt a move above the $72,000 resistance zone. Any more gains might send the price toward the $73,500 level. More Losses In BTC? If Bitcoin fails to rise above the $70,000 resistance zone, it could start another decline. Immediate support on the downside is near the $67,000 level. The first major support is $65,000. The main support sits at $64,500. If there is a close below $64,500, the price could start a drop toward the $63,500 level. Any more losses might send the price toward the $62,000 support zone. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $66,500, followed by $65,000. Major Resistance Levels \u2013 $69,200, $70,000, and $71,200.<\/p>\n","protected":false},"author":67,"featured_media":458642,"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":[428,679,1144,78790,76835],"class_list":["post-598381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Hits Support But Fresh Rally Faces Many Hurdles<\/title>\n<meta name=\"description\" content=\"Bitcoin price tested the $65,000 support zone. 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