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{"id":606823,"date":"2024-05-07T03:19:54","date_gmt":"2024-05-07T03:19:54","guid":{"rendered":"https:\/\/www.shenyangcang.com\/?p=606823"},"modified":"2024-06-11T14:45:34","modified_gmt":"2024-06-11T14:45:34","slug":"bitcoin-price-uptrend-65500","status":"publish","type":"post","link":"https:\/\/www.shenyangcang.com\/news\/bitcoin-price-uptrend-65500\/","title":{"rendered":"Bitcoin Price Signals Uptrend Continuation But Patience Is The Key"},"content":{"rendered":"

Bitcoin price extended its increase above the $64,000 resistance. BTC is now holding gains above $62,800 and might aim for more upsides.<\/em><\/p>\n

\n
Bitcoin traded to a new weekly high at $65,500 before there was a downside correction.<\/li>\n
The price is trading above $63,500 and the 100 hourly Simple moving average.<\/li>\n
There is a key bullish trend line forming with support at $63,350 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could aim for more upsides if it clears the $64,500 and $65,500 resistance levels.<\/li>\n<\/ul>\n
Bitcoin Price Aims Higher<\/h2>\n
Bitcoin price remained well-bid above the $62,500 support zone<\/a> and extended its increase. BTC was able to clear the $64,500 resistance. It even cleared $65,000 and tested $65,500.<\/p>\n
A high was formed at $65,550 and the price is now correcting gains. There was a minor decline below the $64,000 level. The price tested the 23.6% Fib retracement level of the upward move from the $56,380 swing low to the $65,550 high.<\/p>\n
However, the bulls are active near the $63,000 zone. There is also a key bullish trend line forming with support at $63,350 on the hourly chart of the BTC\/USD pair.<\/p>\n
Bitcoin is now trading above $63,000 and the 100 hourly Simple moving average<\/a>. Immediate resistance is near the $64,500 level. The first major resistance could be $65,000. The next key resistance could be $65,500.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/p>\n
A clear move above the $65,500 resistance might send the price higher. The next resistance now sits at $67,200. If there is a clear move above the $67,200 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $68,800.<\/p>\n
Another Drop In BTC?<\/h2>\n
If Bitcoin fails to rise above the $65,500 resistance zone, it could start another decline. Immediate support on the downside is near the $63,350 level and the trend line.<\/p>\n
The first major support is $62,800. If there is a close below $62,800, the price could start to drop toward the 50% Fib retracement level of the upward move from the $56,380 swing low to the $65,550 high at $60,800. Any more losses might send the price toward the $60,000 support zone in the near term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now near the 50 level.<\/p>\n
Major Support Levels \u2013 $63,350, followed by $62,800.<\/p>\n
Major Resistance Levels \u2013 $64,500, $65,000, and $65,500.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price extended its increase above the $64,000 resistance. BTC is now holding gains above $62,800 and might aim for more upsides. Bitcoin traded to a new weekly high at $65,500 before there was a downside correction. 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 $63,350 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could aim for more upsides if it clears the $64,500 and $65,500 resistance levels. Bitcoin Price Aims Higher Bitcoin price remained well-bid above the $62,500 support zone and extended its increase. BTC was able to clear the $64,500 resistance. It even cleared $65,000 and tested $65,500. A high was formed at $65,550 and the price is now correcting gains. There was a minor decline below the $64,000 level. The price tested the 23.6% Fib retracement level of the upward move from the $56,380 swing low to the $65,550 high. However, the bulls are active near the $63,000 zone. There is also a key bullish trend line forming with support at $63,350 on the hourly chart of the BTC\/USD pair. Bitcoin is now trading above $63,000 and the 100 hourly Simple moving average. Immediate resistance is near the $64,500 level. The first major resistance could be $65,000. The next key resistance could be $65,500. Source: BTCUSD on TradingView.com A clear move above the $65,500 resistance might send the price higher. The next resistance now sits at $67,200. If there is a clear move above the $67,200 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $68,800. Another Drop In BTC? If Bitcoin fails to rise above the $65,500 resistance zone, it could start another decline. Immediate support on the downside is near the $63,350 level and the trend line. The first major support is $62,800. If there is a close below $62,800, the price could start to drop toward the 50% Fib retracement level of the upward move from the $56,380 swing low to the $65,550 high at $60,800. Any more losses might send the price toward the $60,000 support zone in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now near the 50 level. Major Support Levels \u2013 $63,350, followed by $62,800. Major Resistance Levels \u2013 $64,500, $65,000, and $65,500.<\/p>\n","protected":false},"author":67,"featured_media":461422,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,1144,78790,76835],"class_list":["post-606823","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nBitcoin Price Signals Uptrend Continuation But Patience Is The Key<\/title>\n<meta name=\"description\" content=\"Bitcoin price extended its increase above the $64,000 resistance. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/www.shenyangcang.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Signals Uptrend Continuation But Patience Is The Key","url":"http:\/\/www.shenyangcang.com\/news\/bitcoin-price-uptrend-65500\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.shenyangcang.com\/news\/bitcoin-price-uptrend-65500\/"},"thumbnailUrl":"https:\/\/www.shenyangcang.com\/wp-content\/uploads\/2021\/04\/shutterstock_170515580.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/www.shenyangcang.com\/wp-content\/uploads\/2021\/04\/shutterstock_170515580.jpg?fit=1000%2C667"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/www.shenyangcang.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","btcusd","btcusdt","xbtusd"],"dateCreated":"2024-05-07T03:19:54Z","datePublished":"2024-05-07T03:19:54Z","dateModified":"2024-06-11T14:45:34Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Signals Uptrend Continuation But Patience Is The Key\",\"url\":\"http:\\\/\\\/www.shenyangcang.com\\\/news\\\/bitcoin-price-uptrend-65500\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.shenyangcang.com\\\/news\\\/bitcoin-price-uptrend-65500\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.shenyangcang.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_170515580.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.shenyangcang.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_170515580.jpg?fit=1000%2C667\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/www.shenyangcang.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2024-05-07T03:19:54Z\",\"datePublished\":\"2024-05-07T03:19:54Z\",\"dateModified\":\"2024-06-11T14:45:34Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/shenyangcang.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/www.shenyangcang.com\/wp-content\/uploads\/2021\/04\/shutterstock_170515580.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/posts\/606823"}],"collection":[{"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/comments?post=606823"}],"version-history":[{"count":0,"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/posts\/606823\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/media\/461422"}],"wp:attachment":[{"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/media?parent=606823"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/categories?post=606823"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.shenyangcang.com\/wp-json\/wp\/v2\/tags?post=606823"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}