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{"id":648216,"date":"2024-10-16T02:40:28","date_gmt":"2024-10-16T02:40:28","guid":{"rendered":"https:\/\/ktsl888.com\/?p=648216"},"modified":"2024-10-16T02:40:28","modified_gmt":"2024-10-16T02:40:28","slug":"bitcoin-price-gains-steam-68k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-gains-steam-68k\/","title":{"rendered":"Bitcoin Price Gains Steam: Is a New Surge on the Horizon?"},"content":{"rendered":"

Bitcoin price started a fresh rally above the $65,500 resistance zone. BTC is now consolidating and might clear the $68,000 resistance to continue higher.<\/em><\/p>\n

\n
Bitcoin is up over 7% and now shows a lot of positive signs.<\/li>\n
The price is trading above $66,500 and the 100 hourly Simple moving average.<\/li>\n
There is a connecting bullish trend line forming with support at $66,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could rally further if there is a close above the $68,000 resistance zone.<\/li>\n<\/ul>\n
Bitcoin Price Surges Over 8%<\/h2>\n
Bitcoin price remained supported and started a fresh increase<\/a> above the $65,500 resistance. BTC cleared the $66,500 resistance to move into a positive zone. The price even rallied above the $67,000 and $67,500 resistance levels.<\/p>\n
Recently, there was a downside correction to $64,500. A low was formed at $64,686 and the price is again rising. There was a move above the $66,500 resistance. The price climbed above the 50% Fib retracement level of the downside correction from the $67,871 swing high to the $64,686 low.<\/p>\n
Bitcoin price is now trading above $66,000 and the 100 hourly Simple moving average<\/a>. There is also a connecting bullish trend line forming with support at $66,400 on the hourly chart of the BTC\/USD pair.<\/p>\n
On the upside, the price could face resistance near the $67,400 level. The first key resistance is near the $67,800 level. A clear move above the $67,800 resistance might send the price higher. The next key resistance could be $68,800.<\/p>\n
$\"Bitcoin$ <\/a>
Source: BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
A close above the $68,800 resistance might initiate more gains. In the stated case, the price could rise and test the $69,500 resistance level. Any more gains might send the price toward the $70,000 resistance level.<\/p>\n
Another Decline In BTC?<\/h2>\n
If Bitcoin fails to rise above the $67,800 resistance zone, it could start another decline. Immediate support on the downside is near the $66,400 level and the trend line.<\/p>\n
The first major support is near the $65,500 level. The next support is now near the $64,500 zone. Any more losses might send the price toward the $63,200 support in the near term.<\/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 $66,400, followed by $65,500.<\/p>\n
Major Resistance Levels \u2013 $67,800, and $68,800.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price started a fresh rally above the $65,500 resistance zone. BTC is now consolidating and might clear the $68,000 resistance to continue higher. Bitcoin is up over 7% and now shows a lot of positive signs. The price is trading above $66,500 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $66,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could rally further if there is a close above the $68,000 resistance zone. Bitcoin Price Surges Over 8% Bitcoin price remained supported and started a fresh increase above the $65,500 resistance. BTC cleared the $66,500 resistance to move into a positive zone. The price even rallied above the $67,000 and $67,500 resistance levels. Recently, there was a downside correction to $64,500. A low was formed at $64,686 and the price is again rising. There was a move above the $66,500 resistance. The price climbed above the 50% Fib retracement level of the downside correction from the $67,871 swing high to the $64,686 low. Bitcoin price is now trading above $66,000 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $66,400 on the hourly chart of the BTC\/USD pair. On the upside, the price could face resistance near the $67,400 level. The first key resistance is near the $67,800 level. A clear move above the $67,800 resistance might send the price higher. The next key resistance could be $68,800. A close above the $68,800 resistance might initiate more gains. In the stated case, the price could rise and test the $69,500 resistance level. Any more gains might send the price toward the $70,000 resistance level. Another Decline In BTC? If Bitcoin fails to rise above the $67,800 resistance zone, it could start another decline. Immediate support on the downside is near the $66,400 level and the trend line. The first major support is near the $65,500 level. The next support is now near the $64,500 zone. Any more losses might send the price toward the $63,200 support in the near term. 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 $66,400, followed by $65,500. Major Resistance Levels \u2013 $67,800, and $68,800.<\/p>\n","protected":false},"author":67,"featured_media":648218,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83361],"tags":[428,679,1144,78790,76835],"class_list":["post-648216","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-btc","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nBitcoin Price Gains Steam: Is a New Surge on the Horizon?<\/title>\n<meta name=\"description\" content=\"Bitcoin price started a fresh rally above the $65,500 resistance zone. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. 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