BULLISH 📈 : Bitcoin aims for gains after consolidating above $68,000

Bitcoin's price has seen a rise above $68,500, but it faced resistance at $70,000. The cryptocurrency is now consolidating, with potential for further gains above $68,800.

BTC established a base above $66,500 and surpassed the $67,400 resistance zone.
The price moved past the $68,800 resistance but encountered sellers near $70,000, peaking at $70,100.
The current trading level is above $68,000, supported by the 100 hourly simple moving average.
A contracting triangle is forming with resistance at $68,400 on the BTC/USD hourly chart.

Bitcoin Price

If Bitcoin maintains stability above $67,400, it could rise again. Key resistance levels are $68,500 and $69,550, which could lead to tests of the $70,000 and potentially $70,500 levels.

Potential Downside

If BTC fails to surpass the $68,800 resistance, it may fall.
Immediate support levels are at $67,400 and $66,550.
Further declines could target $65,000 and $64,700, with major support at $63,000.

Technical Indicators:

Hourly MACD: Losing momentum in the bullish zone
Hourly RSI: Above 50