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>>Bitcoin's Price Tries to Rebound, but Technical Obstacles Pose Challenges for Bulls Moving Forward

Bitcoin's Price Tries to Rebound, but Technical Obstacles Pose Challenges for Bulls Moving Forward

crypthub

about 6 hours ago

Price Movement

Bitcoin fell below $65,000, touching a low of $62,500. It has begun to recover toward the $65,000 area. Trading stays under the $66,500 hourly SMA and a bearish trend line at $66,600. A break below $65,500 could start another decline.

Resistance Outlook

Immediate resistance is at $66,500, with the next barrier near $67,200 (76.4% Fib). A close above $67,200 may lift price toward $68,000 and higher zones at $68,800, $69,200 and $69,500. The MACD is bullish and RSI stays above 50, supporting upside moves. Sustained strength above $65,000 is needed for a rally.

Support Levels

Key support sits at $65,500, followed by $65,000 and $64,200. Continued pressure could push price to $63,500 and then $62,500, where recovery becomes difficult. These levels correspond to recent swing lows. Protecting these floors is vital for short‑term stability.

Technical Signals

The hourly MACD is accelerating in bullish territory. RSI remains above the 50 midpoint, indicating moderate momentum. A bearish trend line at $66,600 still caps upside potential. Traders watch the $66,500‑$67,200 window for decisive direction.