Bitcoin Price Aims Key Upside Break As Dips Turn Attractive

Bitcoin price is making a strong effort to break above the $68,000 resistance zone, with the potential for a rally if it successfully clears the $67,500 and $68,000 levels. Despite facing resistance, the price remained supported above the $64,000 level and climbed higher above the $66,500 and $66,000 levels. Currently, Bitcoin is consolidating gains near the 23.6% Fibonacci retracement level and is trading above $65,000 and the 100 hourly Simple moving average. A key bullish trend line is also forming with support at $65,900. If the price manages to break above the $68,000 resistance zone, it may continue to gain strength and potentially reach the $69,200 and $70,000 levels. However, if it fails to rise above the resistance zone, a decline could be seen, with immediate support at $66,000 and the trend line. The first major support level is at $65,200, followed by $63,800. Technical indicators suggest a slowing bullish momentum, with the MACD losing pace in the bullish zone and the RSI above the 60 level. Traders are advised to conduct thorough research and consider the risks before making any investment decisions.