Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»EXCHANGE NEWS»Bitcoin price falls but still positive: market sentiment remains optimistic
EXCHANGE NEWS

Bitcoin price falls but still positive: market sentiment remains optimistic

By Crypto FlexsMay 20, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Bitcoin price falls but still positive: market sentiment remains optimistic
Share
Facebook Twitter LinkedIn Pinterest Email

Bitcoin price continued its upward trend above the $67,500 resistance level. BTC has tested the $68,000 resistance and is currently correcting to the upside.

  • Bitcoin began a downward correction after rising towards the $68,000 resistance zone.
  • The price is trading below $67,000 and the 100-hour simple moving average.
  • On the hourly chart of the BTC/USD pair (data feed from Kraken), a break has occurred below the connecting bullish trendline with support at $65,900.
  • Unless the bears break below $65,900, the pair could begin another rally.

Bitcoin price downward correction begins

Bitcoin price remained stable above the $66,500 level. BTC extended its gains above the $67,200 and $67,500 resistance levels. It traded at a new weekly high of $67,984 and recently began a downward correction.

There was a move below the $67,000 support. Moreover, on the hourly chart of the BTC/USD pair, a break occurred below the connecting bullish trendline with support at $65,900. The pair even fell below the $66,500 support.

Bitcoin price is currently trading below $67,000 and the 100-hour simple moving average. The lowest point was made at $65,922 and the price is currently attempting a new rise.

There was a move above the $66,200 level. The price broke above the 23.6% Fib retracement level of the downward correction from the $67,984 swing high to the $65,922 low. The price is currently finding resistance near the $66,500 level and the 100-hourly simple moving average.

The first major resistance could be at $66,950. The $67,984 swing high to $65,922 low is close to the 50% Fib retracement level of the downside correction. The next major resistance could be $67,500. A clear break above the $67,500 resistance could push the price higher. If stated, the price could move higher and test the $68,000 resistance.

Source: TradingView.com BTCUSD

If the bulls remain active, the price may rise towards the $68,800 resistance zone. Further gains could push BTC towards the $70,000 barrier.

Another drop in BTC?

If Bitcoin fails to rise above the $66,500 resistance zone, it may continue to fall. Immediate support for the downside is near the $66,000 level and trend line.

The first major support is $65,500. Key support is currently located near $64,500. More losses may lead the price towards the $63,150 support area in the near term.

Technical indicators:

Hourly MACD – MACD is now losing speed in bullish territory.

Hourly Relative Strength Index (RSI) – The RSI for BTC/USD is now below the 50 level.

Key support levels – $65,900, then $65,500.

Key resistance levels – $66,500, $67,000 and $67,500.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin prices return to green -building exercise for more profits

June 26, 2025

Dogecoin (DOGE) after collision

June 23, 2025

Litecoin Key Support in Focus Price Eye Brake Out Determination

June 20, 2025
Add A Comment

Comments are closed.

Recent Posts

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025
Most Popular

Mobile App Change Log 6.10.0

December 11, 2023

Aleo says it’s ironic that so few people trust cryptocurrency companies with their privacy when blockchain is the solution.

March 12, 2024

The Definitive Guide to Digital Yuan

March 1, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.