Bitcoin has just broken through the $65,000 mark, making everyone wonder if it’s about to hit a new all-time high. The market is buzzing with excitement, but will this momentum last? Let’s take a closer look.
What Does Breaking $65,000 Mean?
Bitcoin’s recent surge is showing some strong signs. It’s holding above the $65,000 mark and the 100-day moving average, which is a good indicator of future price movement. The Relative Strength Index (RSI) is also showing a lot of bullish pressure, but it’s also a bit high, which could mean a correction is coming.
On the daily chart, Bitcoin is above the 100-day moving average, which is a good sign that buyers are in control. The RSI is also above the 50% mark, indicating a strong bullish trend.
What Do The Charts Say About Bitcoin’s Future?
The technical outlook for Bitcoin is cautiously optimistic. It’s holding above key support levels, so the next resistance level to watch is the all-time high of $73,811. If Bitcoin breaks through that, it could reach new heights.
However, if the bears take over at $73,811, the price could start to drop back down towards the $65,000 support level. If it falls below that, it could even drop to $60,000 or lower.
