Bitcoin price is currently attempting to break above the $68,750 resistance zone, which could lead to further gains. The price has already surpassed the $67,000 and $67,500 levels and is trading above the 100 hourly Simple Moving Average. There is also a bullish trend line forming with support at $67,400 on the hourly chart.
If the price successfully clears the $68,750 resistance, it could experience bullish momentum and face resistance near the $68,000 level. A move above that level might open the doors for a test of the $68,500 resistance, and further gains could see the price approaching the $69,200 and $70,000 resistance levels. The next target after that could be $71,200.
However, if the price fails to break above the $68,000 resistance, it could initiate another decline. Immediate support is seen near the $67,400 level and the trend line, followed by the $67,200 level. Additional losses might lead the price towards the $66,250 and $66,000 support levels.
Technical indicators suggest a slight loss of momentum in the bullish zone, but the Relative Strength Index (RSI) for BTC/USD is still above the 50 level.
In summary, Bitcoin price is currently aiming for a gradual rise with the potential to break key resistance levels. Whether the uptrend will hold or not depends on the ability of the price to surpass and sustain above the resistance zones.