Bitcoin's Bull Market Resurgence

The bull market is back! #热门话题 #slerf #ETHFI #BOME

Bitcoin price extended its losses and fell below the $62,500 area. BTC even surged below $61,200 before bulls emerged near $60,800. A low was formed near $60,778 and the price is currently moving higher.

There was considerable gains above the $63,000 and $64,000 resistance levels. The price even cleared the 50% Fib retracement level of the downward move from the $68,898 swing high to $60,778 low. There is a break above a key bearish trend line with resistance at $65,000 on the hourly chart of the BTC/USD pair.

Bitcoin is currently trading above $64,500 and the 100 hourly simple moving average. It is also above the 76.4% Fib retracement level of the downward move from the swing high of $68,898 to low of $60,778.

Immediate resistance lies near $68,000. The first major resistance level is likely to be $68,800. The price may continue to strengthen if there is a clear break above the $68,800 resistance zone. In the above scenario, the price may even break the $70,000 resistance zone in the near term. The next key resistance level is $72,500.

Bitcoin falling again?

If Bitcoin fails to break above the $68,800 resistance, it could start another decline. Immediate support on the downside lies near $66,800.

The first major support level is $65,500. The next support level is $64,800. If there is a close below $64,800, the price may start declining towards the $63,000 level. Any further losses could push the price towards the $62,500 support area in the near term.

Technical indicators:

Hourly MACD – The MACD is currently accelerating in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently above the 60 level.

The main support level – $65,500, followed by $64,800.

Major resistance levels – $68,000, $68,800, and $70,000.

The bull market is here, if you don’t know how to operate it and are still confused, please like and follow, introduction! In the last bull market, there were dozens of 100x coins and hundreds of 10x coins. In this bull market, more 100x coins will explode. Next, I will announce the password for the next 10x coin during the Bitcoin halving period!If you follow the trend, the pigs will fly into the sky! Guessing is worse than being sure!

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热点：Bitcoin BULL