Bitcoin Price Breaks $62K: Rising Bullish Momentum, Will Prices Go Higher?

Jul 15, 2024 04:01 am Cryptocurrency 55

Bitcoin price started a strong increase and broke the $62,000 resistance level. BTC is showing positive signs and might rise toward the $63,200 level.

Bitcoin gained bullish momentum above the $60,500 resistance zone.

The price is trading above $61,500 and the 100 hourly Simple moving average.

There is a key bullish trend line forming with support at $61,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair might continue to move up if it breaks the $62,500 support.

Bitcoin Price Regains Strength

Bitcoin price started a decent increase above the $59,500 and $60,000 resistance levels. BTC even cleared the $60,500 resistance to move into a positive zone. It sparked a strong increase and the price climbed above the $62,000 level.

It even tested the $62,500 level. A high was formed at $62,493 and the price is now consolidating gains. It is trading well above the 23.6% Fib retracement level of the upward move ..

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