Bitcoin Continues Bullish Thrust As Buyers Face Roadblock at $64,000 Key Level

Bitcoin Buyers Encounter Resistance at $64,000

Bitcoin (BTCUSD) crypto continues bullish upthrust as buyers face roadblock at the $64,000 key level. This month has been a month of redemption for the buyers, as they have managed to recover from the sellers’ push down to the $52,900 significant level.

BTCUSD Price Levels

Resistance Levels: $71000, $65000
Support Levels: $54000, $50000
The buy position took a turn, recovering up to the $60,000 key level last week. However, this was accompanied by a slight pullback down to the $57,700 significant area. Entering this week, the buyers were on a strong rally as they broke through the $60,000 market area, propelling the bullish market up to the $64,000 key area.

However, the BTCUSD buyers are currently facing a potential roadblock after their recent run, which could insight a pullback once again in the market. The MACD (Moving Average Convergence and Divergence) indicator shows a bullish run in the market, while the RSI (Relative Strength Index) is on the high note.

Nevertheless, with the current stop, there could be a crossover in the market. The main challenge for the Bitcoin buyers at the moment is to overcome the $64,000 key level. This level has proven to be a significant resistance point, and the buyers’ ability to break through this hurdle could determine the next phase of the market.

Market Expectation

On the shorter time frames, the sellers have been managing a decline following the bullish run. This could, however, be an interim pullback, as Bitcoin is still projecting for higher highs. This is seen in crypto signals.
The buyers are still intentional to reach the $65,000 key level and breach back, but the RSI and MACD indicators are signaling a decline in the market.

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