Bitcoin Price Aims Key Upside Break As Dips Turn Attractive

Bitcoin price is again attempting an upside break above $68,000 resistance zone. BTC could rally if it clears $67,500 and $68,000 in the near term. Bitcoin price started a decent increase above the $65,000 zone. The price is trading below $65,000 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support at $65,900 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must clear the $68,000 resistance zone to start a fresh rally. Bitcoin Price Turns Green Bitcoin price remained supported above the $64,000 resistance zone. BTC climbed higher above the $66,500 and $66,000 resistance levels. However, the bears were active near the $67,500 and $68,000 levels. A high was formed near $67,614 and the price is now consolidating gains. It is trading near the 23.6% Fib retracement level of the upward move from the $62,614 swing low to the $67,614 high. Bitcoin is now trading above $65,000 and the 100 hourly Simple moving average. There is also a key bullish trend line forming with support at $65,900 on the hourly chart of the BTC/USD pair. Immediate resistance is near the $67,500 level. The first major resistance could be $68,000. Source: BTCUSD on TradingView.com If there is a clear move above the $68,000 resistance zone, the price could continue to gain strength. In the stated case, the price could even clear the $69,0200 resistance zone in the near term. The next key resistance sits at $70,000. Another Decline In BTC? If Bitcoin fails to rise above the $68,000 resistance zone, it could start another decline. Immediate support on the downside is …..