{"id":13826,"date":"2024-10-15T03:22:58","date_gmt":"2024-10-15T03:22:58","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=13826"},"modified":"2024-10-15T03:22:58","modified_gmt":"2024-10-15T03:22:58","slug":"bitcoin-price-reaches-critical-resistance-can-the-rally-push-on","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=13826","title":{"rendered":"Bitcoin Price Reaches Critical Resistance: Can the Rally Push On?"},"content":{"rendered":"

Bitcoin price started a fresh rally above the $64,500 resistance zone. BTC is now consolidating and might struggle to surpass the $66,400 resistance.<\/em><\/p>\n

Bitcoin is up over 5% and now faces hurdles near the $66,400 zone.
\nThe price is trading above $64,500 and the 100 hourly Simple moving average.
\nThere is a short-term bullish trend line forming with support at $65,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could rally further if there is a close above the $66,400 resistance zone.<\/p>\n

Bitcoin Price Surges Over 5%<\/h2>\n

Bitcoin price formed a base and started a fresh increase<\/a> above the $62,500 resistance. BTC cleared the $63,500 resistance to move into a positive zone. The price even rallied above the $65,000 and $65,500 resistance levels.<\/p>\n

Finally, the price stalled near the last key resistance at $66,400. A high was formed at $66,398 and the price is now consolidating gains. There was a minor decline below the $66,000 level. The price is now approaching the 23.6% Fib retracement level of the upward wave from the $62,139 swing low to the $66,398 high.<\/p>\n

Bitcoin price is now trading above $65,000 and the 100 hourly Simple moving average<\/a>. There is also a short-term bullish trend line forming with support at $65,400 on the hourly chart of the BTC\/USD pair.<\/p>\n

On the upside, the price could face resistance near the $66,000 level. The first key resistance is near the $66,400 level. A clear move above the $66,400 resistance might send the price higher. The next key resistance could be $66,850.<\/p>\n

<\/a><\/p>\n

A close above the $66,850 resistance might initiate more gains. In the stated case, the price could rise and test the $67,500 resistance level. Any more gains might send the price toward the $68,000 resistance level.<\/p>\n

Another Decline In BTC?<\/h2>\n

If Bitcoin fails to rise above the $66,400 resistance zone, it could start another decline. Immediate support on the downside is near the $65,400 level and the trend line.<\/p>\n

The first major support is near the $64,250 level or the 50% Fib retracement level of the upward wave from the $62,139 swing low to the $66,398 high. The next support is now near the $63,500 zone. Any more losses might send the price toward the $62,500 support in the near term.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n

Major Support Levels \u2013 $65,400, followed by $64,250.<\/p>\n

Major Resistance Levels \u2013 $66,000, and $66,400.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price started a fresh rally above the $64,500 resistance zone. BTC is now consolidating and might struggle to surpass the $66,400 resistance. Bitcoin is up over 5% and now faces hurdles near the $66,400 zone. The price is trading above $64,500 and the 100 hourly Simple moving average. There is a short-term bullish trend […]<\/p>\n","protected":false},"author":0,"featured_media":13827,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-13826","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/13826"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13826"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/13826\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/13827"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}