{"id":16078,"date":"2024-10-24T03:05:19","date_gmt":"2024-10-24T03:05:19","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=16078"},"modified":"2024-10-24T03:05:19","modified_gmt":"2024-10-24T03:05:19","slug":"bitcoin-price-could-reignite-uptrend-is-a-new-surge-coming","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=16078","title":{"rendered":"Bitcoin Price Could Reignite Uptrend: Is a New Surge Coming?"},"content":{"rendered":"

Bitcoin price tested the $65,200 zone before the bulls appeared. BTC is now rising and aiming for more upsides above the $67,500 resistance.<\/em><\/p>\n

Bitcoin extended losses and tested the $65,200 zone.
\nThe price is trading below $67,500 and the 100 hourly Simple moving average.
\nThere was a break above a key bearish trend line with resistance at $66,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could gain bullish momentum if it clears the $67,500 resistance zone.<\/p>\n

Bitcoin Price Starts Fresh Increase<\/h2>\n

Bitcoin price extended its downside correction<\/a> below the $66,500 level. There was a move below the $66,000 and $65,500 levels. The price even tested the $65,200 support zone.<\/p>\n

A low was formed at $65,199 and the price is again rising. There was a clear move above the $66,500 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $69,425 swing high to the $65,199 low. Besides, there was a break above a key bearish trend line with resistance at $66,800 on the hourly chart of the BTC\/USD pair.<\/p>\n

Bitcoin price is now trading below $67,500 and the 100 hourly Simple moving average<\/a>. On the upside, the price could face resistance near the $67,300 level or the 50% Fib retracement level of the downward move from the $69,425 swing high to the $65,199 low.<\/p>\n

The first key resistance is near the $67,500 level. A clear move above the $67,500 resistance might send the price higher. The next key resistance could be $68,000.<\/p>\n

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

A close above the $68,000 resistance might initiate more gains. In the stated case, the price could rise and test the $69,200 resistance level. Any more gains might send the price toward the $70,000 resistance level.<\/p>\n

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

If Bitcoin fails to rise above the $67,500 resistance zone, it could start another decline. Immediate support on the downside is near the $66,500 level.<\/p>\n

The first major support is near the $66,200 level. The next support is now near the $66,000 zone. Any more losses might send the price toward the $65,200 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 $66,500, followed by $66,200.<\/p>\n

Major Resistance Levels \u2013 $67,500, and $68,000.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price tested the $65,200 zone before the bulls appeared. BTC is now rising and aiming for more upsides above the $67,500 resistance. Bitcoin extended losses and tested the $65,200 zone. The price is trading below $67,500 and the 100 hourly Simple moving average. There was a break above a key bearish trend line with […]<\/p>\n","protected":false},"author":0,"featured_media":16079,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-16078","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\/16078"}],"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=16078"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/16078\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/16079"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16078"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16078"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16078"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}