{"id":928,"date":"2024-08-26T04:02:04","date_gmt":"2024-08-26T04:02:04","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=928"},"modified":"2024-08-26T04:02:04","modified_gmt":"2024-08-26T04:02:04","slug":"bitcoin-price-faces-challenge-at-65k-can-it-break-through","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=928","title":{"rendered":"Bitcoin Price Faces Challenge at $65K: Can It Break Through?"},"content":{"rendered":"

Bitcoin price gained pace and tested the $65,000 resistance. BTC must clear $65,000 to continue higher in the near term.<\/em><\/p>\n

Bitcoin started a steady increase above the $63,000 zone.
\nThe price is trading above $63,500 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support at $63,450 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair might attempt a fresh increase if it clears the $65,000 resistance zone.<\/p>\n

Bitcoin Price Eyes More Gains<\/h2>\n

Bitcoin price remained stable above the $60,000 pivot level. BTC formed a base and started a steady increase<\/a> above the $62,000 resistance zone. The price climbed above the $63,200 and $63,500 resistance levels.<\/p>\n

Finally, the bears appeared near the $65,000 resistance zone. A high was formed at $64,950 and the price is now consolidating gains. There was a minor decline below the $64,500 level. The price tested the 23.6% Fib retracement level of the upward move from the $58,572 swing low to the $64,950 high.<\/p>\n

Bitcoin is now trading above $63,200 and the 100 hourly Simple moving average<\/a>. There is also a key bullish trend line forming with support at $63,450 on the hourly chart of the BTC\/USD pair.<\/p>\n

On the upside, the price could face resistance near the $64,500 level. The first key resistance is near the $65,000 level. A clear move above the $65,000 resistance might send the price further higher in the coming sessions. The next key resistance could be $65,500.<\/p>\n

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

A close above the $65,500 resistance might spark more upsides. In the stated case, the price could rise and test the $67,200 resistance.<\/p>\n

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

If Bitcoin fails to rise above the $65,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $63,800 level.<\/p>\n

The first major support is $63,500. The next support is now near the $62,800 zone. Any more losses might send the price toward the $61,750 support zone or the 50% Fib retracement level of the upward move from the $58,572 swing low to the $64,950 high 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 $63,800, followed by $63,500.<\/p>\n

Major Resistance Levels \u2013 $64,500, and $65,000.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price gained pace and tested the $65,000 resistance. BTC must clear $65,000 to continue higher in the near term. Bitcoin started a steady increase above the $63,000 zone. The price is trading above $63,500 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support at $63,450 on […]<\/p>\n","protected":false},"author":0,"featured_media":929,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-928","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\/928"}],"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=928"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/928\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/929"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}