Bitcoin Price Ready to Resume Gains: Can the Uptrend Return? 📈
Bitcoin price is gaining pace after climbing above $62,000, currently trading above $63,250, and supported by a bullish trend line at $62,900. The cryptocurrency aims to break through resistance at $64,200. If successful, BTC could rise further to $65,000 and potentially test the $65,500 and $66,500 levels.
BTC has passed the 23.6% Fib retracement level. Key resistance levels sit at $64,000 and $64,200, with potential additional resistance at $65,000. A successful breakout could signify further gains. However, failure to surpass $64,000 may lead to declines, with immediate support at $63,500 and $63,000, before potentially testing $62,500 or $61,800 support levels.
The hourly MACD shows bullish momentum, and the RSI is above 50, indicating potential for upward movement. Major support levels for BTC are $63,500 and $63,000, while resistance lies at $64,000 and $64,200.
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