- As of Wednesday, Bitcoin's price was hovering in the $65,000-$68,000 range.
Bitcoin chart analysis
As of Wednesday, Bitcoin's price was hovering in the $65,000-$68,000 range. The trend is slightly bullish, while prices are above the $67,000 level. We are heading towards the $68,000 level, which is the upper limit of this channel. We can expect some resistance, but hopefully there will be a breakout to the upside and a continuation of the upside.
Going higher is just the first step to a bullish option. It is also necessary to maintain above this level in order to form a bottom from which further growth can begin. Then, with bullish consolidation, we move towards the $69,000 level. Possible higher targets are the $69,000 and $69,500 levels.
Could Bitcoin reach a new ATH over the weekend?
We need Bitcoin price to pull back to $66,000 for a bearish option. As we dip lower, we slide to a two-day low, confirming the downward momentum. After that, the next important area is $65,000, where we can expect greater support.
Possible lower targets are the $64,500 and $64,000 levels. EMA200 moving resistance provides additional support in the $64,000 area. $63,142 is our weekly open price, and as long as we are above it, we can expect the Bitcoin price to rise.
Today, Bitcoin’s dominance over other cryptocurrencies is 51.53%, which is 0.66% lower than yesterday. Bitcoin trading volume has fallen by 25% in the past 24 hours. Tesla's Bitcoin funds recorded growth, and the reason for this was the purchase of $5.94 million worth of Bitcoin.
