Bitcoin Price Analysis: BTC Bulls Target $66K–$68K for BITSTAMP:BTCUSD by forexinworld
Bitcoin (BTC) is trading around $65,263 on the 4-hour timeframe, showing signs of renewed bullish momentum after successfully defending key support levels. The latest TradingView chart indicates that BTC continues to respect an ascending channel, keeping the overall short-term trend positive. BTC Technical Analysis The chart highlights that Bitcoin has bounced from the lower boundary of the rising channel and is now attempting another move higher. Key Support Levels $64,300 – Immediate …
Bitcoin (BTC) is trading around $65,263 on the 4-hour timeframe, showing signs of renewed bullish momentum after successfully defending key support levels. The latest TradingView chart indicates that BTC continues to respect an ascending channel, keeping the overall short-term trend positive. BTC Technical AnalysisThe chart highlights that Bitcoin has bounced from the lower boundary of the rising channel and is now attempting another move higher. Key Support Levels$64,300 – Immediate support$63,800 – Strong trendline support$62,000 – Major support zoneAs long as BTC remains above these levels, buyers remain in control. Resistance Levels$66,000 – First major resistance$66,800–$67,200 – Upper channel resistance$68,000 – Bullish breakout targetA successful close above $66,000 could trigger fresh buying pressure and open the door for a rally toward $68,000. Trading OutlookThe 9-period Simple Moving Average (SMA) is beginning to turn upward, supporting the possibility of continued bullish momentum. Bullish Scenario:Hold above $64. 3KBreak above $66KTarget $67K–$68KBearish Scenario:If Bitcoin fails to hold above the lower channel support, the price could revisit $63. 8K or even $62K before finding fresh demand. ConclusionBitcoin continues to trade within a healthy ascending channel, suggesting that the broader trend remains bullish. Traders should closely monitor the $66,000 resistance level, as a confirmed breakout could lead to the next leg higher toward $68,000. Disclaimer:This analysis is for educational purposes only and should not be considered financial or investment advice. Always conduct your own research before making trading decisions. DisclaimerThe information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in theTerms of Use.