Bitcoin: $68,000 Resistance Test Eyes $73,000 Rally
Bitcoin tests $68,000 resistance for the second time with $73,000 target in sight if it holds above the 21-day MA at current levels near $65,480.
SourceAnalysis
Bitcoin confronts its second test of the $68,000 resistance zone, with a clean break likely to extend gains toward $73,000 according to @CryptoMichNL.
The analyst notes that as long as price remains above the 21-day MA, higher valuations remain probable in the near term despite the target area theoretically being reached.
On the 4-hour chart BTC trades inside the Bollinger Bands with upper resistance at $66,965.39 while the EMA50 at $65,024.9 acts as concrete support and the EMA200 at $63,742.48 anchors the broader bullish structure; neutral RSI at 49.82 combined with the MACD death cross at 261.94 suggests a measured approach to the upper band before continuation.
Michaël van de Poppe
@CryptoMichNLMacro-Economics, Value Based Investing & Trading || Crypto & Bitcoin Enthusiast