Bitcoin Hit an All Time High of $65,000 Key Area – What Next?


Bitcoin sustained its bullish momentum and broke over $60,000 key area quite impulsively. Bitcoin hit an all-time high of $65,000 key area. What is next? Bulls to continue the bullish trend further in the coming days? What are the charts and technical indicators are saying? Read on to find further insights into today’s BTC/USD Technical Analysis.

April 15, 2021, | AtoZ Markets – Bitcoin price decline today morning during the Asian session against the U.S. Dollar. Bitcoin is currently trading around $62,600 area and trying to push lower. After bouncing from $59,500 to $60,000 price area, the bulls have regained momentum and pushed the price higher impulsively, and hit a record high of $60,000 area. As per the current price action, the price may retrace towards the dynamic level of 20 EMA on the daily chart in the coming days.

Bitcoin Hit an All Time High as the Bulls Are Optimistic

Bitcoin is currently residing near $62,600 area and trying to push downside. However, the dynamic level is still holding the price as a support on the intraday chart.

Bitcoin Hit an All Time

Image: Bitcoin 4 Hour Chart

According to the 4-hour chart, Bitcoin hit an all-time high and currently trading around $62,600 area. As per the current scenario, if the price can have an impulsive 4-hour bearish candle close below the dynamic level of 20 EMA, the bears may push the price downward towards $60,000 to $59,500 support area in the coming days.

Along with this, the dynamic level of 20 EMA is currently residing below the price. So, it may work as strong support in the process. However, the bears may regain momentum if the price can break below the dynamic level in the days ahead. Moreover, the Stochastic Oscillator lines are currently residing below the overbought level 80 after having a bearish crossover. It indicates that the bears may regain momentum in the coming days.

BTC May Continue the Bullish Trend

According to the daily chart, Bitcoin hit an all-time high as the investors are optimistic. As per the current price action context, the price may retrace downside towards $60,000 to $59,500 area in the coming days. So, if the price retraced towards $60,000 to $59,500 area and bounced upward with a daily bullish candle, the bulls may sustain the bullish trend towards $64,200 to $65,000 area as a first target. The second target will be $70,000 to $72,000 area if the price can break above $64,200 to $65,000 area in the days ahead.

Bitcoin Hit an All Time

Image: Bitcoin Daily Chart

Furthermore, the dynamic level of 20 EMA is currently residing below the price. Along with the Kijun line and the Tenkan line. So, the dynamic level of 20 EMA may act as a strong support to push the price upside. Besides, the Kijun line and the Tenkan line may work as a confluence of the dynamic level in the process.

To conclude, after an extended period of volatility, the bulls have successfully broken over $60,000 psychological resistance level. As the overall bias is still bullish, there is a high chance that BTC may continue the bullish momentum further in the coming days. 

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