The post Bitcoin Price Targets Gradual Rise: Will the Uptrend Hold? appeared on BitcoinEthereumNews.com.

Bitcoin price is attempting a fresh increase above the $67,000 zone. BTC could gain pace if it clears the $68,750 resistance zone. Bitcoin started a fresh increase from the $65,500 zone. The price is trading above $67,200 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $67,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it clears the $68,750 resistance zone. Bitcoin Price Eyes More Upsides Bitcoin price found support near the $65,500 zone. A low was formed at $65,531 and the price started a fresh increase above the $66,200 resistance. The price climbed above the $67,000 and $67,500 levels. There was a move above the 61.8% Fib retracement level of the downward move from the $68,699 swing high to the $65,531 low. There is also a connecting bullish trend line forming with support at $67,400 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading above $67,200 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $68,000 level. It is close to the 76.4% Fib retracement level of the downward move from the $68,699 swing high to the $65,531 low. The first key resistance is near the $68,500 level. A clear move above the $68,500 resistance might send the price higher. The next key resistance could be $68,750. Source: BTCUSD on TradingView.com A close above the $68,750 resistance might initiate more gains. In the stated case, the price could rise and test the $69,200 resistance level. Any more gains might send the price toward the $70,000 resistance level. Any more gains might call for a test of $71,200. Another Decline In BTC? If Bitcoin fails to rise above…

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Filed under: News - @ October 28, 2024 2:47 am