Bitcoin Price Prediction – A Breakout from $63,500 Would Be Needed to Deliver $68,000 Levels

For the Afternoon Ahead

Bitcoin would need to move back through the $62,213 pivot to bring the first major resistance level at $64,252 and $65,000 levels into play.

Support from the broader market will be needed, however, for Bitcoin to break out from $63,500 levels.

Barring an extended crypto rally, the first major resistance at $64,252 would likely cap any upside.

In the event of another extended rally through the afternoon, Bitcoin could test resistance at $68,000 before any pullback. The second major resistance level sits at $65,603.

Failure to move back through the $62,213 pivot would bring the first major support level at $60,862 back into play.

Barring an extended sell-off through the afternoon, however, Bitcoin should steer clear of sub-$60,000 levels.

The second major support level sits at $58,823.

Looking beyond the support and resistance levels, we saw the 50 EMA narrow on the 100 and 200 EMAs this morning. We also saw the 100 EMA narrow on the 200 EMA.

Through the 2^nd half of the day, a widening of the 50 EMA from the 100 and 200 would bring $68,000 levels into play.

Key through the late morning and early afternoon, however, would be to move back through to $63,500 levels.