Bitcoin has finally broken above its resistance level of $67,303.98, signaling a potential rally.
Bullish Indicators
- Bitcoin’s price is trading above the bearish trend line and the 100-day Simple Moving Average (SMA).
- The Relative Strength Index (RSI) suggests bullish momentum, with the RSI line close to the overbought zone.
- The 1-Day MACD indicates a bullish trend, with the MACD histograms above zero and the MACD line and signal line crossing towards the zero line.
- The William Alligator indicator shows that Bitcoin has crossed above the Alligator jaw and lip, indicating an upward movement.
Resistance and Support Levels
If Bitcoin continues to surge, it could face resistance at $67,267.79 and $71,337.80. Breaking above these levels could lead to significant price increases.
However, if the price declines, Bitcoin could find support at $64,554.45, $60,137.39, and $56,540.64. A failure to hold these support levels could lead to further downward movement.
