Bitcoin Price Recovery Faces Resistance Below $68,500
- Bitcoin started a recovery wave above $67,000 and $67,500.
- BTC is trading above $67,500 and the 100 hourly simple moving average.
- A break occurred above a bearish trend line with resistance at $67,350 on the hourly chart.
- Immediate resistance levels are near $68,500 and $68,800.
- Major support levels include $67,000 and $65,000.
Bitcoin’s price is attempting to recover after forming a base above the $65,000 zone but faces significant resistance below the $68,500 mark. The current trading level is supported by the stability above the key threshold of $67,200.
Despite breaking past initial resistances like the bearish trend at $67,350, Bitcoin must surpass further barriers at $68,500 to maintain upward momentum. Immediate support at levels such as $67,000 could be crucial if another decline occurs. Source
