{"id":15213,"date":"2024-10-21T03:06:00","date_gmt":"2024-10-21T03:06:00","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=15213"},"modified":"2024-10-21T03:06:00","modified_gmt":"2024-10-21T03:06:00","slug":"bitcoin-price-surges-ahead-is-this-the-start-of-a-bigger-run","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=15213","title":{"rendered":"Bitcoin Price Surges Ahead: Is This The Start of a Bigger Run?"},"content":{"rendered":"

Bitcoin price extended gains above the $68,000 resistance zone. BTC is now consolidating and aiming for more gains above the $69,500 resistance.<\/em><\/p>\n

Bitcoin remained stable and extended gains above the $68,500 zone.
\nThe price is trading above $68,500 and the 100 hourly Simple moving average.
\nThere is a key contracting triangle forming with support at $68,750 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 $69,450 resistance zone.<\/p>\n

Bitcoin Price Rises Toward $70,000<\/h2>\n

Bitcoin price remained supported above the $67,500 zone. BTC started another minor increase above the $68,000 resistance zone<\/a>. The bulls were able to clear the $68,800 barrier.<\/p>\n

The price even cleared the $69,000 level. A high was formed near $69,428 and the price is now consolidating gains. There was a minor decline below the $69,000 level, but the price is stable above the 23.6% Fib retracement level of the upward move from the $66,644 swing low to the $69,428 high.<\/p>\n

Bitcoin price is now trading above $68,200 and the 100 hourly Simple moving average<\/a>. There is also a key contracting triangle forming with support at $68,750 on the hourly chart of the BTC\/USD pair.<\/p>\n

On the upside, the price could face resistance near the $69,200 level. The first key resistance is near the $69,500 level. A clear move above the $69,500 resistance might send the price higher. The next key resistance could be $70,000.<\/p>\n

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

A close above the $70,000 resistance might initiate more gains. In the stated case, the price could rise and test the $71,200 resistance level. Any more gains might send the price toward the $72,000 resistance level.<\/p>\n

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

If Bitcoin fails to rise above the $69,500 resistance zone, it could start another decline. Immediate support on the downside is near the $68,750 level and the triangle\u2019s trend line.<\/p>\n

The first major support is near the $68,050 level and the 50% Fib retracement level of the upward move from the $66,644 swing low to the $69,428 high. The next support is now near the $67,400 zone. Any more losses might send the price toward the $66,500 support in the near term.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining 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 $68,750, followed by $68,500.<\/p>\n

Major Resistance Levels \u2013 $69,500, and $70,000.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price extended gains above the $68,000 resistance zone. BTC is now consolidating and aiming for more gains above the $69,500 resistance. Bitcoin remained stable and extended gains above the $68,500 zone. The price is trading above $68,500 and the 100 hourly Simple moving average. There is a key contracting triangle forming with support at […]<\/p>\n","protected":false},"author":0,"featured_media":15214,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-15213","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\/15213"}],"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=15213"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/15213\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/15214"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}