Bitcoin price is aiming for a key upside breakout as the decline becomes attractive Bitcoin price remains supported above the $64,000 resistance zone. BTC climbed above the $66,500 and $66,000 resistance levels. However, bears are active around the $67,500 and $68,000 levels. A high was formed near $67,614 and the price is currently consolidating gains. It is trading near the 23.6% Fib retracement level of the upward trend from the $62,614 swing low to the $67,614 high. Bitcoin is currently trading above $65,000 and the 100-hour simple moving average. A key bullish trend line has also formed on the hourly chart of the BTC/USD pair with support at $65,900. The immediate resistance is near $67,500. The first major resistance level is likely to be $68,000. If there is a clear break above the $68,000 resistance zone, the price is likely to continue to strengthen. In the above scenario, the price may even break through the $69,0200 resistance zone in the short term. The next key resistance level is $70,000. If Bitcoin fails to break through the $68,000 resistance level, it could start another decline. The immediate support to the downside is located near the $66,000 level and trend line. The first major support level is $65,200, which is the 50% Fib retracement of the upward trend from the $62,614 swing low to the $67,614 high. The next support is at $63,800. If the closing price is below $63,800, the price may start to decline towards the $61,200 level. Any more losses could cause the price to rise to the $60,500 support zone in the short term. Technical Indicators: Hourly MACD – The MACD is now losing speed in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently above the 60 level. Major support level – $65,900, followed by $63,800. Major resistance levels – $67,500, $68,000, and $69,200. (Source: Aayush Jindal)