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Este artículo también está disponible en español. Bitcoin price extended gains above the $68,000 resistance zone. BTC is now consolidating and aiming for more gains above the $69,500 resistance. Bitcoin remained stable and extended gains above the $68,500 zone. The price is trading above $68,500 and the 100 hourly Simple moving average. There is a key contracting triangle forming with support at $68,750 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could rally further if there is a close above the $69,450 resistance zone. Bitcoin Price Rises Toward $70,000 Bitcoin price remained supported above the $67,500 zone. BTC started another minor increase above the $68,000 resistance zone. The bulls were able to clear the $68,800 barrier. The price even cleared the $69,000 level. A high was formed near $69,428 and the price is now consolidating gains. There was a minor decline below the $69,000 level, but the price is stable above the 23.6% Fib retracement level of the upward move from the $66,644 swing low to the $69,428 high. Bitcoin price is now trading above $68,200 and the 100 hourly Simple moving average. There is also a key contracting triangle forming with support at $68,750 on the hourly chart of the BTC/USD pair. On the upside, the price could face resistance near the $69,200 level. The first key resistance is near the $69,500 level. A clear move above the $69,500 resistance might send the price higher. The next key resistance could be $70,000. Source: BTCUSD on TradingView.com A close above the $70,000 resistance might initiate more gains. In the stated case, the price could rise and test the $71,200 resistance level. Any more gains might send the price toward the $72,000 resistance level. Another Decline In BTC? If Bitcoin fails to rise above the…

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Filed under: News - @ October 21, 2024 3:10 am