{"id":1791,"date":"2024-05-16T03:14:34","date_gmt":"2024-05-16T03:14:34","guid":{"rendered":"https:\/\/cryptd.in\/bitcoin-breaks-free-emerging-from-bearish-sentiment-crypto-market-optimism-rises\/"},"modified":"2024-05-16T03:14:34","modified_gmt":"2024-05-16T03:14:34","slug":"bitcoin-breaks-free-emerging-from-bearish-sentiment-crypto-market-optimism-rises","status":"publish","type":"post","link":"https:\/\/cryptd.in\/hu\/bitcoin-breaks-free-emerging-from-bearish-sentiment-crypto-market-optimism-rises\/","title":{"rendered":"Bitcoin Breaks Free: Kiemelkedik a Bearish Sentiment, Crypto piaci optimizmus emelkedik"},"content":{"rendered":"

Bitcoin price is up nearly 8% and it broke many hurdles. BTC is now consolidating gains and might correct in the short term toward $65,000.<\/em><\/p>\n

Bitcoin started a strong increase and cleared the $63,500 resistance zone.
\nThe price is trading above $65,000 and the 100 hourly Simple moving average.
\nThere was a break above a key bearish trend line with resistance at $61,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could correct gains but the bulls might be active near $65,000 and $64,500.<\/p>\n

Bitcoin Price Jumps 8%<\/h2>\n

Bitcoin price remained strong above the $60,000 support zone. BTC formed a base and started a fresh increase above the $62,000 level. There was a break above a key bearish trend line with resistance at $61,500 on the hourly chart of the BTC\/USD pair.<\/p>\n

The pair rallied over 6% and broke many hurdles near the $63,500 resistance<\/a>. It even cleared the $65,500 resistance. A new weekly high was formed at $66,411 and the price is now consolidating gains.<\/p>\n

It is holding gains above the 23.6% Fib retracement level of the recent wave from the $61,073 swing low to the $66,411 high. Bitcoin price is also trading above $65,000 and the 100 hourly Simple moving average<\/a>.<\/p>\n

Immediate resistance is near the $66,400 level. The first major resistance could be $66,850. The next key resistance could be $67,200. A clear move above the $67,200 resistance might send the price higher. In the stated case, the price could rise and test the $68,000 resistance.<\/p>\n

<\/a><\/p>\n

If there is a close above the $68,000 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $70,000.<\/p>\n

Are Dips Limited In BTC?<\/h2>\n

If Bitcoin fails to climb above the $66,400 resistance zone, it could start a downside correction. Immediate support on the downside is near the $65,150 level.<\/p>\n

The first major support is $64,500. If there is a close below $64,500, the price could start to drop toward $63,500 or the 50% Fib retracement level of the recent wave from the $61,073 swing low to the $66,411 high. Any more losses might send the price toward the $63,000 support zone in the near term.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n

Major Support Levels \u2013 $65,150, followed by $64,500.<\/p>\n

Major Resistance Levels \u2013 $66,400, $66,800, and $67,200.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price is up nearly 8% and it broke many hurdles. BTC is now consolidating gains and might correct in the short term toward $65,000. Bitcoin started a strong increase and cleared the $63,500 resistance zone. The price is trading above $65,000 and the 100 hourly Simple moving average. There was a break above a […]<\/p>\n","protected":false},"author":0,"featured_media":1792,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1791","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"\nBitcoin Breaks Free: Emerging from Bearish Sentiment, Crypto Market Optimism Rises - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/hu\/bitcoin-breaks-free-emerging-from-bearish-sentiment-crypto-market-optimism-rises\/\" \/>\n<meta property=\"og:locale\" content=\"hu_HU\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Breaks Free: Emerging from Bearish Sentiment, Crypto Market Optimism Rises - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"Bitcoin price is up nearly 8% and it broke many hurdles. BTC is now consolidating gains and might correct in the short term toward $65,000. Bitcoin started a strong increase and cleared the $63,500 resistance zone. The price is trading above $65,000 and the 100 hourly Simple moving average. 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