Bitcoin Price Recovery Faces Resistance at $64,000
- Bitcoin price climbed above $62,000, supported by a bullish trend line.
- BTC is trading above $62,200 and the 100 hourly simple moving average.
- Key resistance levels are identified at $63,500 and $64,000.
- If BTC settles above the $64,000 zone, it may test the next resistance at $65,500.
- Support levels are near $62,500 and further down at $61,500.
The Bitcoin price is attempting to recover after forming a base above the $61,500 level but faces strong resistance near the $64,000 mark. A successful breach of this resistance could propel BTC towards higher targets like $65,500 or even beyond.
However, failure to surpass this level might trigger another decline with immediate support at around $62,500. The main support sits at approximately $60,000 if further losses occur (Source).
