Bitcoin worth climbed additional greater above the $67,500 resistance zone. BTC is now consolidating and would possibly clear the $68,350 resistance to proceed greater.

• Bitcoin remained steady and prolonged positive aspects above the $68,000 zone.
• The value is buying and selling above $67,200 and the 100 hourly Easy transferring common.
• There’s a connecting bullish pattern line forming with assist at $66,800 on the hourly chart of the BTC/USD pair (information feed from Kraken).
• The pair may rally additional if there’s a shut above the $68,000 resistance zone.

Bitcoin Worth Stays Supported for Extra Upsides

Bitcoin worth remained supported and prolonged its enhance above the $67,500 resistance. BTC cleared the $67,800 resistance to maneuver right into a optimistic zone. The value even rallied above the $68,000 and $68,200 resistance ranges.

The value traded as excessive as $68,328 and at the moment consolidating positive aspects. There was a minor decline beneath the $68,000 degree. The value dipped and examined the 23.6% Fib retracement degree of the upward transfer from the $64,686 swing low to the $68,328 excessive.

Bitcoin worth is now buying and selling above $67,200 and the 100 hourly Easy transferring common. There’s additionally a connecting bullish pattern line forming with assist at $66,800 on the hourly chart of the BTC/USD pair.

On the upside, the worth may face resistance close to the $68,000 degree. The primary key resistance is close to the $68,350 degree. A transparent transfer above the $68,350 resistance would possibly ship the worth greater. The following key resistance may very well be $68,800.

A detailed above the $68,800 resistance would possibly provoke extra positive aspects. Within the acknowledged case, the worth may rise and take a look at the $70,0200 resistance degree. Any extra positive aspects would possibly ship the worth towards the $72,000 resistance degree.

One other Drop In BTC?

If Bitcoin fails to rise above the $68,000 resistance zone, it may begin one other decline. Speedy assist on the draw back is close to the $66,800 degree and the pattern line.

The primary main assist is close to the $66,500 degree and the 50% Fib retracement degree of the upward transfer from the $64,686 swing low to the $68,328 excessive. The following assist is now close to the $66,500 zone. Any extra losses would possibly ship the worth towards the $65,400 assist within the close to time period.

Technical indicators:

Hourly MACD – The MACD is now shedding tempo within the bullish zone.

Hourly RSI (Relative Power Index) – The RSI for BTC/USD is now above the 50 degree.

Main Help Ranges – $66,800, adopted by $65,400.

Main Resistance Ranges – $68,000, and $68,350.