- Today’s Chart: Bitcoin Traders Tighten Their Grip:
It looks like Bitcoin is on the verge of breaking through the short-term resistance level of $68,000, supported by the Moving Average Convergence Divergence (MACD) indicator, which remains above its signal line on the daily chart with expanding green bars.
A decisive breakout above $68,000 will reinforce the bullish trend for Bitcoin, making it the leading digital currency attractive to both individual and institutional investors. Among the key areas to watch is the psychological threshold at $70,000, which, if surpassed, could open the door to gains aiming to reach the highest level recorded on February 8 at $72,271.
However, traders should temper their expectations, as the 50-day exponential moving average at $78,720, the 100-day EMA at $85,931, and the 200-day EMA at $92,840 are all trending downward, confirming an overall bearish trend.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
3 Likes
Reward
3
1
Repost
Share
Comment
0/400
Before00zero
0
· 1h ago
Bitcoin price recovers to approach $68,000 with slight signs of retail investors returning to the market.
- Today’s Chart: Bitcoin Traders Tighten Their Grip:
It looks like Bitcoin is on the verge of breaking through the short-term resistance level of $68,000, supported by the Moving Average Convergence Divergence (MACD) indicator, which remains above its signal line on the daily chart with expanding green bars.
A decisive breakout above $68,000 will reinforce the bullish trend for Bitcoin, making it the leading digital currency attractive to both individual and institutional investors. Among the key areas to watch is the psychological threshold at $70,000, which, if surpassed, could open the door to gains aiming to reach the highest level recorded on February 8 at $72,271.
However, traders should temper their expectations, as the 50-day exponential moving average at $78,720, the 100-day EMA at $85,931, and the 200-day EMA at $92,840 are all trending downward, confirming an overall bearish trend.
Daily chart of the BTC/USDT pair