Bitcoin Price Regains Strength: Is a New Rally Brewing? 📈
Bitcoin price has surged past the $62,500 resistance, reaching above $63,500 and trading above the 100 hourly Simple moving average. BTC cleared $63,200 and is now consolidating around $63,965.
The price faced minor corrections but found support at the 23.6% Fib retracement level from the $62,440 low to the $63,965 high.
Upside resistance could be at $63,950 and $64,200. A clear move above $64,200 could push BTC to $65,000 and $65,500. Key support levels are $63,500, $63,200, and $62,500.
The hourly MACD is bullish, and the RSI for BTC/USD is above 50, indicating potential upward momentum.
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