{"id":118829,"date":"2024-10-27T04:59:47","date_gmt":"2024-10-26T21:59:47","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=118829"},"modified":"2024-10-27T04:59:47","modified_gmt":"2024-10-26T21:59:47","slug":"bitcoin-eyes-bullish-breakout-but-can-btc-smash-this-major-resistance","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=118829","title":{"rendered":"Bitcoin eyes bullish breakout, but can BTC smash THIS major resistance?"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<ul>\n<li><em><span style=\"font-weight: 400;\">Bitcoin struggled against $67,583 resistance; breaking this level could trigger a move toward $70,000.<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">RSI and MACD show weakening momentum, while rising active addresses suggest potential bullish activity.<\/span><\/em><\/li>\n<\/ul>\n<p><a href=\"https:\/\/ambcrypto.com\/predictions\/bitcoin-price-prediction\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">Bitcoin [BTC]<\/span><\/a><span style=\"font-weight: 400;\"> fell below $67,000, reaching an intraday low of $65,700 after losing its overnight gains. Priced at <\/span><a href=\"https:\/\/www.coingecko.com\/en\/coins\/bitcoin\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><span style=\"font-weight: 400;\">$66,972.95<\/span><\/a><span style=\"font-weight: 400;\"> at press time, it shows a 1.22% decline in the past 24 hours and 2.01% over the past week.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Despite the short-term dip, Bitcoin\u2019s market cap remains at $1.32 trillion, with a circulating supply of 20 million BTC. In the last 24 hours, trading volume reached $46.32 billion, reflecting continued interest from traders.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bitcoin has been trading within a clear descending channel. This pattern shows a series of lower highs and lower lows, indicating a bearish trend. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The upper boundary of this channel, near $69,000, has repeatedly acted as a strong resistance level, pushing prices lower after each attempt to break above it.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As seen on the chart, recent rejections have followed similar patterns, suggesting that this resistance remains a key challenge for further gains.<\/span><\/p>\n<div id=\"attachment_437085\" style=\"width: 1825px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MIVCMG8m.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-437085\" class=\"wp-image-437085 size-full\" alt=\"\" width=\"1815\" height=\"953\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MIVCMG8m.png 1815w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MIVCMG8m-300x158.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MIVCMG8m-1024x538.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MIVCMG8m-768x403.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MIVCMG8m-1536x807.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MIVCMG8m-1200x630.png 1200w\" data-lazy-sizes=\"(max-width: 1815px) 100vw, 1815px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MIVCMG8m.png\"\/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-437085\" class=\"wp-image-437085 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MIVCMG8m.png\" alt=\"\" width=\"1815\" height=\"953\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MIVCMG8m.png 1815w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MIVCMG8m-300x158.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MIVCMG8m-1024x538.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MIVCMG8m-768x403.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MIVCMG8m-1536x807.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/MIVCMG8m-1200x630.png 1200w\" sizes=\"auto, (max-width: 1815px) 100vw, 1815px\"\/><\/a><\/p>\n<p id=\"caption-attachment-437085\" class=\"wp-caption-text\">Source: TradingView<\/p>\n<\/div>\n<h2><b>Support and resistance levels<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Bitcoin\u2019s press time upper resistance zone was between $67,583.25 and $69,000, a range that has consistently rejected bullish attempts.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> If Bitcoin manages to break above this range, it could pave the way for an extended move toward $70,000.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, failure to clear this level could see Bitcoin reverting lower within the descending channel.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Immediate support is identified around $66,423.76, marked as a critical level on the chart. Should Bitcoin breach this support, it could drop toward the lower boundary of the channel, projected between $60,000 and $62,000.<\/span><\/p>\n<h2><b>RSI and MACD analysis<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">At the time of this publication, Relative Strength Index (RSI) was at 56.75, positioned below its signal line at 63.00. This indicated that bullish momentum was weakening, approaching a more neutral zone.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, earlier in October, the RSI rose above 70, pointing to overbought conditions. The subsequent drop indicated a correction, yet the current RSI level still allows room for upward movement. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Maintaining above the 50 mark is important for bullish momentum to sustain.<\/span><\/p>\n<div id=\"attachment_437084\" style=\"width: 1504px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTCUSD_2024-10-26_14-17-49.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-437084\" class=\"wp-image-437084 size-full\" alt=\"\" width=\"1494\" height=\"828\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTCUSD_2024-10-26_14-17-49.png 1494w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTCUSD_2024-10-26_14-17-49-300x166.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTCUSD_2024-10-26_14-17-49-1024x568.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTCUSD_2024-10-26_14-17-49-768x426.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTCUSD_2024-10-26_14-17-49-1200x665.png 1200w\" data-lazy-sizes=\"(max-width: 1494px) 100vw, 1494px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTCUSD_2024-10-26_14-17-49.png\"\/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-437084\" class=\"wp-image-437084 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTCUSD_2024-10-26_14-17-49.png\" alt=\"\" width=\"1494\" height=\"828\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTCUSD_2024-10-26_14-17-49.png 1494w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTCUSD_2024-10-26_14-17-49-300x166.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTCUSD_2024-10-26_14-17-49-1024x568.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTCUSD_2024-10-26_14-17-49-768x426.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTCUSD_2024-10-26_14-17-49-1200x665.png 1200w\" sizes=\"auto, (max-width: 1494px) 100vw, 1494px\"\/><\/a><\/p>\n<p id=\"caption-attachment-437084\" class=\"wp-caption-text\">Source: TradingView<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">The Moving Average Convergence Divergence (MACD) line remains above the signal line, suggesting an ongoing bullish trend. However, shrinking histogram bars hint at decreasing momentum.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If the MACD line crosses below the signal line, it may indicate short-term downside or a period of consolidation.\u00a0<\/span><\/p>\n<h2><b>On-chain activity<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">According to <\/span><a href=\"https:\/\/app.intotheblock.com\/coin\/BTC\/deep-dive?group=network&amp;chart=transactions\" data-wpel-link=\"external\" target=\"_blank\" rel=\"nofollow external noopener noreferrer\"><span style=\"font-weight: 400;\">IntoTheBlock <\/span><\/a><span style=\"font-weight: 400;\">data, active Bitcoin addresses have increased by 5.20% in the last week, suggesting higher user engagement. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This contrasted with a 6.50% decline in new addresses, indicating that existing users were driving network activity.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bitcoin\u2019s 7-day average transaction volume stood at 539.81k BTC at press time, with a recent peak of 672.53k BTC on the 22nd of October and a low of 371.37k BTC on the 20th of October.\u00a0<\/span><\/p>\n<div id=\"attachment_437083\" style=\"width: 1629px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-transaction-volume.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-437083\" class=\"wp-image-437083 size-full\" alt=\"\" width=\"1619\" height=\"496\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-transaction-volume.png 1619w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-transaction-volume-300x92.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-transaction-volume-1024x314.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-transaction-volume-768x235.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-transaction-volume-1536x471.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-transaction-volume-1200x368.png 1200w\" data-lazy-sizes=\"(max-width: 1619px) 100vw, 1619px\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-transaction-volume.png\"\/><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-437083\" class=\"wp-image-437083 size-full\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-transaction-volume.png\" alt=\"\" width=\"1619\" height=\"496\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-transaction-volume.png 1619w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-transaction-volume-300x92.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-transaction-volume-1024x314.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-transaction-volume-768x235.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-transaction-volume-1536x471.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTC-transaction-volume-1200x368.png 1200w\" sizes=\"auto, (max-width: 1619px) 100vw, 1619px\"\/><\/a><\/p>\n<p id=\"caption-attachment-437083\" class=\"wp-caption-text\">Source: IntoTheBlock<\/p>\n<\/div>\n<hr\/>\n<p style=\"text-align: center;\">Read <a href=\"https:\/\/ambcrypto.com\/predictions\/bitcoin-price-prediction\" data-wpel-link=\"internal\">Bitcoin\u2019s [BTC] Price Prediction<\/a> 2024\u20132025<\/p>\n<hr\/>\n<p><span style=\"font-weight: 400;\">The fluctuating volume reflects shifting market activity, with the recent spike indicating rising engagement.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This variability in transaction volume suggests ongoing changes in trading patterns, which could shape Bitcoin\u2019s price movements in the coming days.<\/span><\/p>\n<div class=\"post-nav\">\n<div class=\"next-blog\">\n\t\t\t\t\t\t\t\t\t\t\tNext: <a href=\"https:\/\/ambcrypto.com\/ethereum-whales-target-the-dip-but-heres-why-eth-can-slide-to-2-3k\/\" rel=\"prev\" data-wpel-link=\"internal\">Ethereum whales target the dip, but here\u2019s why ETH can slide to $2.3K<\/a>\t\t\t\t\t\t\t\t\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/ambcrypto.com\/bitcoin-eyes-bullish-breakout-but-can-it-smash-this-major-resistance\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin struggled against $67,583 resistance; breaking this level could trigger a move toward $70,000. RSI and MACD show weakening momentum, while rising active addresses suggest potential bullish activity. Bitcoin [BTC] &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=118829\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-118829","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/118829","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=118829"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/118829\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=118829"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=118829"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=118829"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}