Bitcoin (BTC) Clears the Resistance at the $65,000 Mark
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Summary:
- BTC remains bullish above the 9-day EMA.
- MACD signals continued buying momentum.
- Targets: $70,000, then $75,000–$80,000.
Bitcoin has maintained a steady upward trend since rebounding from the support around the $60,000 price level. Some analysts suggest that the coin has entered a critical phase, which could pave the way for further bullish momentum in the coming sessions.
Bitcoin on the Daily Chart
Bullish momentum has remained dominant on the BTC/USDT daily chart since the beginning of the month. At the time of writing, the token is trading above the 9-day Exponential Moving Average (EMA).
Additionally, today’s price candle is bullish and has formed a strong body, indicating sustained buying pressure. Likewise, the Moving Average Convergence Divergence (MACD) indicator remains above the equilibrium level. The MACD histogram bars are also solid green, reflecting strong bullish sentiment in the market.
BTC/USDT Traders Still Eye Higher Targets
From the current market structure, Bitcoin traders are becoming increasingly bullish. This has pushed the token into a key technical position. The latest candlestick suggests that buyers remain firmly in control of the market.
Likewise, the MACD lines continue to rise above the equilibrium level, indicating that bullish momentum may still have room to strengthen and drive prices higher.
Bitcoin May Clear the $70,000 Barrier
Since rebounding on July 1, Bitcoin has maintained a consistent upward trajectory. The current trading session continues to hold comfortably above the 9-day EMA, reinforcing the prevailing bullish trend.
The MACD indicator also continues to show a positive trend, indicating that buying momentum remains strong. Consequently, the $70,000 price level appears to be within reach. If the current momentum persists, traders may begin targeting the $75,000 and $80,000 price levels as longer-term objectives.
