{"id":14411,"date":"2024-10-17T02:35:31","date_gmt":"2024-10-17T02:35:31","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=14411"},"modified":"2024-10-17T02:35:31","modified_gmt":"2024-10-17T02:35:31","slug":"bitcoin-price-holds-firm-can-it-power-toward-new-gains","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=14411","title":{"rendered":"Bitcoin Price Holds Firm: Can It Power Toward New Gains?"},"content":{"rendered":"

Bitcoin price climbed further higher above the $67,500 resistance zone. BTC is now consolidating and might clear the $68,350 resistance to continue higher.<\/em><\/p>\n

Bitcoin remained stable and extended gains above the $68,000 zone.
\nThe price is trading above $67,200 and the 100 hourly Simple moving average.
\nThere is a connecting bullish trend line forming with support at $66,800 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 $68,000 resistance zone.<\/p>\n

Bitcoin Price Remains Supported for More Upsides<\/h2>\n

Bitcoin price remained supported and extended its increase above the $67,500 resistance<\/a>. BTC cleared the $67,800 resistance to move into a positive zone. The price even rallied above the $68,000 and $68,200 resistance levels.<\/p>\n

The price traded as high as $68,328 and currently consolidating gains. There was a minor decline below the $68,000 level. The price dipped and tested the 23.6% Fib retracement level of the upward move from the $64,686 swing low to the $68,328 high.<\/p>\n

Bitcoin price is now trading above $67,200 and the 100 hourly Simple moving average<\/a>. There is also a connecting bullish trend line forming with support at $66,800 on the hourly chart of the BTC\/USD pair.<\/p>\n

On the upside, the price could face resistance near the $68,000 level. The first key resistance is near the $68,350 level. A clear move above the $68,350 resistance might send the price higher. The next key resistance could be $68,800.<\/p>\n

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

A close above the $68,800 resistance might initiate more gains. In the stated case, the price could rise and test the $70,0200 resistance level. Any more gains might send the price toward the $72,000 resistance level.<\/p>\n

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

If Bitcoin fails to rise above the $68,000 resistance zone, it could start another decline. Immediate support on the downside is near the $66,800 level and the trend line.<\/p>\n

The first major support is near the $66,500 level and the 50% Fib retracement level of the upward move from the $64,686 swing low to the $68,328 high. The next support is now near the $66,500 zone. Any more losses might send the price toward the $65,400 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 $66,800, followed by $65,400.<\/p>\n

Major Resistance Levels \u2013 $68,000, and $68,350.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price climbed further higher above the $67,500 resistance zone. BTC is now consolidating and might clear the $68,350 resistance to continue higher. Bitcoin remained stable and extended gains above the $68,000 zone. The price is trading above $67,200 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with […]<\/p>\n","protected":false},"author":0,"featured_media":14412,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-14411","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\/14411"}],"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=14411"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/14411\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/14412"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}