Bitcoin Price Prediction – Avoiding a Return to sub-$64,500 Would Be Needed to Avoid the Deep Red

For the Afternoon Ahead

Bitcoin would need to move through the $65,565 pivot to bring the first major resistance level at $68,264 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 and Wednesday’s ATH $68,958.0 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 $71,657.

Failure to move through the $65,565 pivot would bring the first major support level at $62,172 into play.

Barring an afternoon reversal, however, Bitcoin should avoid sub-$62,000 levels.

The second major support level sits at $59,473.

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 avoid a bearish cross through the 200 EMA, however, limiting the damage.

Through the 2^nd 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 back through to $68,000 levels.

A fall back to sub-$64,500 levels would deliver a heavy loss on the day.