Bitcoin price started a strong increase above $68,500. BTC even tested $70,000, but post-fed there was a major bearish reaction.
- Bitcoin started another decline from the $70,000 resistance zone.
- The price is trading below $68,550 and the 100 hourly Simple moving average.
- There is a connecting bullish trend line forming with support at $67,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could recover but the upsides might be limited above the $68,550 level.
Bitcoin Price Dips Again
Bitcoin price started a steady increase above the $68,500 resistance zone. BTC even cleared the $69,200 resistance zone. However, after the Fed kept the rates at 5.5%, there was a strong bearish reaction.
The price dipped below the $68,800 and $68,500 levels. The price tested the $67,200 zone. A low was formed at $67,148 and the price is now consolidating losses near the 23.6% Fib retracement level of the downward move from the $69,969 swing high to the $67,148 low.
Bitcoin is now trading below $68,800 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $67,500 on the hourly chart of the BTC/USD pair. On the upside, the price is facing resistance near the $68,250 level. The first major resistance could be $68,550 and the 50% Fib retracement level of the downward move from the $69,969 swing high to the $67,148 low.
The next key resistance could be $69,200. A clear move above the $69,200 resistance might send the price higher. In the stated case, the price could rise and test the $70,000 resistance. Any more gains might send BTC toward the $71,200 resistance in the near term.
More Losses In BTC?
If Bitcoin fails to climb above the $68,550 resistance zone, it could start another decline. Immediate support on the downside is near the $67,200 level.
The first major support is $67,000. The next support is now forming near $66,000. Any more losses might send the price toward the $65,500 support zone in the near term.
Technical indicators:
Hourly MACD – The MACD is now losing pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.
Major Support Levels – $67,000, followed by $66,000.
Major Resistance Levels – $68,550, and $69,200.
Bitcoin price started a strong increase above $68,500. BTC even tested $70,000, but post-fed there was a major bearish reaction.
- Bitcoin started another decline from the $70,000 resistance zone.
- The price is trading below $68,550 and the 100 hourly Simple moving average.
- There is a connecting bullish trend line forming with support at $67,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could recover but the upsides might be limited above the $68,550 level.
Bitcoin Price Dips Again
Bitcoin price started a steady increase above the $68,500 resistance zone. BTC even cleared the $69,200 resistance zone. However, after the Fed kept the rates at 5.5%, there was a strong bearish reaction.
The price dipped below the $68,800 and $68,500 levels. The price tested the $67,200 zone. A low was formed at $67,148 and the price is now consolidating losses near the 23.6% Fib retracement level of the downward move from the $69,969 swing high to the $67,148 low.
Bitcoin is now trading below $68,800 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $67,500 on the hourly chart of the BTC/USD pair. On the upside, the price is facing resistance near the $68,250 level. The first major resistance could be $68,550 and the 50% Fib retracement level of the downward move from the $69,969 swing high to the $67,148 low.
The next key resistance could be $69,200. A clear move above the $69,200 resistance might send the price higher. In the stated case, the price could rise and test the $70,000 resistance. Any more gains might send BTC toward the $71,200 resistance in the near term.
More Losses In BTC?
If Bitcoin fails to climb above the $68,550 resistance zone, it could start another decline. Immediate support on the downside is near the $67,200 level.
The first major support is $67,000. The next support is now forming near $66,000. Any more losses might send the price toward the $65,500 support zone in the near term.
Technical indicators:
Hourly MACD – The MACD is now losing pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.
Major Support Levels – $67,000, followed by $66,000.
Major Resistance Levels – $68,550, and $69,200.
Having read this I thought it was very informative. I appreciate you taking the time and effort to put this article together. I once again find myself spending way to much time both reading and commenting. But so what, it was still worth it!
I was examining some of your content on this site and I conceive this site is really instructive! Keep on posting.
I haven’t checked in here for some time because I thought it was getting boring, but the last several posts are great quality so I guess I will add you back to my everyday bloglist. You deserve it my friend 🙂
Purdentix
This site truly stands out as a great example of quality web design and performance.
The design and usability are top-notch, making everything flow smoothly.
I love how user-friendly and intuitive everything feels.
I love how user-friendly and intuitive everything feels.
This website is amazing, with a clean design and easy navigation.
This site truly stands out as a great example of quality web design and performance.
I love how user-friendly and intuitive everything feels.
The layout is visually appealing and very functional.
Man is said to seek happiness above all else, but what if true happiness comes only when we stop searching for it? It is like trying to catch the wind with our hands—the harder we try, the more it slips through our fingers. Perhaps happiness is not a destination but a state of allowing, of surrendering to the present and realizing that we already have everything we need.
Thank you for any other wonderful article. Where else could anybody get that kind of info in such an ideal manner of writing? I have a presentation subsequent week, and I’m at the search for such information.
This is a topic close to my heart cheers, where are your contact details though?
I was looking at some of your articles on this internet site and I conceive this site is real informative! Keep on posting.
can i purchase generic clomiphene prices buying clomiphene pill cost clomid pills where can i buy cheap clomid pill order generic clomiphene for sale clomid cost australia where buy generic clomiphene pill
The vividness in this tune is exceptional.
The vividness in this piece is exceptional.
buy azithromycin generic – purchase tinidazole without prescription buy generic metronidazole 400mg
rybelsus for sale – buy periactin cyproheptadine 4mg tablet
motilium 10mg sale – flexeril canada order cyclobenzaprine 15mg online
propranolol oral – buy cheap generic methotrexate methotrexate for sale online
order generic amoxicillin – buy combivent 100 mcg combivent online order
zithromax 250mg for sale – nebivolol ca buy bystolic 20mg pills
augmentin over the counter – https://atbioinfo.com/ ampicillin tablet
order esomeprazole generic – anexamate nexium brand
warfarin 2mg cheap – cou mamide losartan 50mg oral
Some genuinely great blog posts on this site, thank you for contribution. “My salad days, When I was green in judgment.” by William Shakespeare.
meloxicam oral – moboxsin meloxicam 7.5mg cost
buy prednisone 5mg online cheap – aprep lson buy deltasone 20mg
buy ed medication – fast ed to take site best ed drug
amoxicillin generic – combamoxi.com amoxicillin us
buy fluconazole 100mg sale – https://gpdifluca.com/# order fluconazole 100mg pill
does cialis make you harder – https://ciltadgn.com/# when to take cialis for best results