Bitcoin recovers above $68,500; needs $69,600 breakout to test $70,500
Bitcoin rebounds above $68,000 after testing $65,500. Price consolidates below $69,250 resistance, eyeing $69,600.
Bitcoin recovered from $65,500 and moved back over $67,500. It trades above $68,000 and the 100‑hour SMA, with a bearish trendline near $69,250 on the hourly BTC/USD chart (Kraken data). The move follows a recovery wave after the drop.
A close over $69,600 would target $70,500. Then $72,000 and $72,650. NewsBTC flags a possible fresh increase if resistance breaks.
Key levels:
- Resistance: $69,250 trendline, then $69,600 (50% Fib of $74,062 to $65,646), next $70,500, $72,000, $72,650
- Support: $68,500, $68,000, then $67,500, $66,650, main $65,500
Signals:
- MACD turns bullish on the hourly
- RSI holds above 50
