Bitcoin price has recently faced resistance at the key levels of $64,500 and $65,000. Despite showing positive signs and trading above $62,500 and the 100 hourly Simple moving average, BTC is struggling to break through these levels. There is a bullish trend line forming with support at $62,800.
If Bitcoin manages to break above the $65,500 resistance, it could continue to rise towards $66,800 and potentially reach $68,000. However, if it fails to surpass the $64,500 resistance, there is a possibility of another decline. The immediate support levels to watch are $62,800 and $61,500. A close below $61,500 could lead to a drop towards the 61.8% Fib retracement level at $59,500, with further losses potentially reaching the $58,000 support zone.
It is important to note that the information provided should not be taken as investment advice, and conducting personal research is advised. Investing in cryptocurrencies carries risks, and individuals should make their own investment decisions carefully.