Bitcoin Price Prediction – $68,500 Remains the Threshold for $70,000…

For the Afternoon Ahead

Bitcoin would need to move back through the $67,236 pivot to bring the first major resistance level at $68,146 into play.

Support from the broader market will be needed, however, for Bitcoin to break back through to $68,000 levels.

Barring an extended crypto rally, the first major resistance level at $68,146 and Tuesday’s ATH $68,444.0 would likely cap any upside.

In the event of another extended rally through the afternoon, Bitcoin could test resistance at $70,000. The second major resistance level sits at $69,354.

Failure to move back through the $67,236 pivot would bring the first major support level at $66,028 into play.

Barring an afternoon reversal, however, Bitcoin should avoid sub-$66,000 levels.

The second major support level sits at $65,118.

Looking beyond the support and resistance levels, we saw the 50 EMA narrow on the 100 and the 200 EMAs this morning. We saw the 100 EMA pull away from the 200 EMA, however, limiting the damage.

Through the 2nd half of the day, a pull away of the 50 EMA from the 100 and 200 would bring $70,000 levels into play.

Key through the late morning and early afternoon, however, would be to break out from $68,500 levels.

A fall back to sub-$66,500 levels would deliver a heavy loss on the day.

This news is republished from another source. You can check the original article here

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