Bitcoin Tests $65K Resistance as Buyers Seek Breakout
Bitcoin is currently trading around $65,118, up roughly 0.32% on the day, as buyers attempt to extend a recent recovery and break through the key resistance level of $65,000.
The cryptocurrency has been holding above several short- and medium-term moving averages, but repeated attempts to establish a sustained move above $65,000 have so far met resistance from sellers.
A TradingView analysis noted that BTC has continued to press against $65,000 from below after recovering from lower levels, and the analyst highlighted an important change in the behavior of the 100- and 200-period exponential moving averages on the one-hour and four-hour charts.
The same analysis identified $65,000 as the key level for the next directional move, with a sustained reclaim potentially bringing $67,000 and $67,600 into consideration, while failure at resistance would leave the approximately $64,000 moving-average area as the first downside reference.