Huge Chance For BTC To Shoot Above $65K After Regaining Momentum

There’s a huge chance for BTC to shoot above the $65K price range as it gained momentum and broke the $60K resistance against the US dollar and is now showing signs that are able to rise above $65,000 so let’s read more in our latest Bitcoin news today.

Bitcoin rallied above the $60K level and hit a new ATH of $61,800 with the price now trading nicely above the $60K and the 100 simple moving average as there’s a huge chance for BTC to surge higher There’s a key bullish trend line forming with the support at $58,500 on the 4-hour chart of the pair. The pair will likely correct lower but the dips are limited below the $58,000 in the near-term. Over the past week, BTC started a new increase above the $55,000 resistance against the US dollar with the price breaking the $58K and shooting above the 100 simple moving average.

The upwards move gained some pace above the 76.4% fib retracement level from the key downward move at the $58,281 high to $40,073 low with a strong increase above the $58,500 and the $60K levels as well. It spiked above the K level and traded to a new all-time high of ,800 but it seems now that the price faced a strong selling interest near the ,800 with the 1.
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236 fib extension level from the key move at the $58,281 high to $40,073 low. the price is now correcting lower but on the downside, the initial support Is close to the $60K level. There’s also a key bullish trend line forming with the support near the $58,500 on the 4-hour charts of the pair so more losses could open the doors for another move towards $58,000 and $57,200 support levels.

On the upside, the $61,500 and the $61,800 resistance levels are the initial hurdles for the bulls so a clear break above these zones could open the doors for a new move to $62,500. The next major resistance is close to the $65,000 level and more gains will push the price towards $68,000 and $68,500 in the near-term. The 4-hour MACD for the pair is gaining bullish momentum while the 4-hour RSI is well above the 50 level.