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Bitcoin Price Restarts Its Climb: Is The Rally Back On? Newsbtc 14 Oct 2024

Bitcoin Price Restarts Its Climb: Is The Rally Back On? 📈

Bitcoin price has started to rise again, breaching the $62,000 resistance zone. Currently trading above $61,500, it might aim for more upside above $63,000, despite encountering resistance near $63,200. A close above this level could send the price higher.

Bitcoin has formed a new base with a climb above $61,200 and cleared the crucial $62,000 resistance to enter a positive zone, spiking above $63,000 before consolidating.

Despite a minor drop below $63,000, Bitcoin remains above the 100 hourly Simple moving average. If it surpasses the $63,200 resistance, it could test $64,500, potentially reaching $65,000.

If Bitcoin does not break the $63,200 resistance, a decline is possible with initial support near $62,250, further support at $61,150, and potentially down to $60,000.

Source: www.newsbtc.com ↗

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