Bitcoin broke the $65,000 resistance and traded to a new all-time high against the US Dollar. BTC is correcting gains, but dips could remain attractive near $63,000.
- Bitcoin gained pace above the $65,000 and $65,500 resistance levels.
- The price is now trading above $63,000 and the 100 hourly simple moving average.
- There is a crucial bullish trend line forming with support near $63,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair is correcting gains, but dips might remain limited below $62,000 in the near term.
Bitcoin Price Remains In Uptrend
Bitcoin price extended its increase above the $63,500 resistance zone. BTC broke the key $65,000 resistance zone and settled above the 100 hourly simple moving average.
It even spiked above the $65,500 resistance and traded to a new all-time high at $66,982. It is currently correcting lower and trading below the $66,000 level. There was a break below the 23.6% Fib retracement level of the upward wave from the $61,320 swing low to $66,982 high.
Source:On the upside, an initial resistance is near the $65,200 level. The first key resistance is near the $65,500 level. A clear break above the $65,500 resistance could open the doors for more upsides. The next major resistance sits near the $66,800 level, above which the price might rise towards the $68,000 level. Any more gains could lead the price towards the $68,000 level.