Bitcoin Keeps Above $60K, Is it Going To Break $64K?

 2021-10-19 09:38:10

Bitcoin finally broke through $60K last Friday. It is now trading above $62,000 and the 100 hourly simple moving average. Furthermore, from the hourly chart, it can be seen that Bitcoin price take an uptrend since October most of the time.

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Back to today's performance, Bitcoin is showing positive signs above the $61,500 support line. Analysts on Bexplus believe that BTC could get a further fresh rally if it clears the $63,000 resistance line.

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Bitcoin is well above the strong $60,000 now. If it can hold this uptrend for the rest of the month, it could speed up to break the all-time high that was made in April 2021($64,814). However, if Bitcoin fails to clear the recent $62,200 resistance line, it could start a downside correction between the range of $59,000-$61,000.

 

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.

Hourly RSI  – The RSI is near the 60-level.

Major Support Levels – $61,200, followed by $61,000.

Major Resistance Levels – $62,200, $62,850 and $63,500.

 

DISCLAIMER: The analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal. Every investment and trading move involves risk. You should conduct your own research when making a decision.

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