{"id":8255,"date":"2024-09-20T02:42:00","date_gmt":"2024-09-20T02:42:00","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=8255"},"modified":"2024-09-20T02:42:00","modified_gmt":"2024-09-20T02:42:00","slug":"bitcoin-price-pushes-higher-as-the-bulls-set-sights-on-65k","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=8255","title":{"rendered":"Bitcoin Price Pushes Higher As The Bulls Set Sights on $65K"},"content":{"rendered":"

Bitcoin price gained pace above the $61,500 resistance. BTC even cleared the $63,300 level and is now consolidating gains above $62,500.<\/em><\/p>\n

Bitcoin is gaining pace above the $62,200 resistance zone.
\nThe price is trading above $62,500 and the 100 hourly Simple moving average.
\nThere is a major bullish trend line forming with support at $61,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could extend gains if it stays above the $61,500 support zone.<\/p>\n

Bitcoin Price Extend Gains Above $63,000<\/h2>\n

Bitcoin price extended its increase<\/a> above the $60,500 level. BTC was able to clear the $61,200 and $61,500 resistance levels to move into a positive zone.<\/p>\n

The bulls pumped the price above $62,500 and $63,000 levels. A high was formed at $63,840 and the price is now consolidating gains. There was a move below the $63,500 level. The price dipped and tested the 23.6% Fib retracement level of the upward move from the $59,165 swing low to the $63,840 high.<\/p>\n

Bitcoin is now trading above $62,500 and the 100 hourly Simple moving average<\/a>. There is also a major bullish trend line forming with support at $61,500 on the hourly chart of the BTC\/USD pair.<\/p>\n

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

On the upside, the price could face resistance near the $63,500 level. The first key resistance is near the $63,800 level. A clear move above the $68,400 resistance might send the price higher. The next key resistance could be $64,500. A close above the $64,500 resistance might spark more upsides. In the stated case, the price could rise and test the $65,000 resistance.<\/p>\n

Are Dips Limited In BTC?<\/h2>\n

If Bitcoin fails to rise above the $63,500 resistance zone, it could start a downside correction. Immediate support on the downside is near the $62,700 level.<\/p>\n

The first major support is $61,500 and the trend line. The next support is now near the $61,000 zone or the 61.8% Fib retracement level of the upward move from the $59,165 swing low to the $63,840 high. Any more losses might send the price toward the $60,500 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 $62,700, followed by $61,500.<\/p>\n

Major Resistance Levels \u2013 $63,500, and $63,800.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price gained pace above the $61,500 resistance. BTC even cleared the $63,300 level and is now consolidating gains above $62,500. Bitcoin is gaining pace above the $62,200 resistance zone. The price is trading above $62,500 and the 100 hourly Simple moving average. There is a major bullish trend line forming with support at $61,500 […]<\/p>\n","protected":false},"author":0,"featured_media":8256,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-8255","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\/8255"}],"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=8255"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/8255\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/8256"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8255"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8255"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8255"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}