Bitcoin price started a fresh increase and cleared the $64,500 zone. BTC is consolidating and might aim for more gains above the $66,200 level.

• Bitcoin managed to stay above $62,500 and started a fresh increase.
• The price is trading above $64,500 and the 100 hourly simple moving average.
• There is a bullish trend line forming with support at $64,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair might extend gains if it stays above the $65,500 and $66,200 levels.

Bitcoin Price Regains Strength

Bitcoin price found support near $60,800 and started a fresh increase. BTC gained pace for a move above the $61,500 and $63,200 resistance levels.

The bulls even pushed the price above $64,500. A high was formed at $65,847, and the price started a consolidation phase above the 23.6% Fib retracement level of the upward move from the $60,746 swing low to the $65,847 high.

Bitcoin is now trading above $64,500 and the 100 hourly simple moving average. Besides, there is a bullish trend line forming with support at $64,200 on the hourly chart of the BTC/USD pair.

If the price remains stable above $64,500, it could attempt a fresh increase. Immediate resistance is near the $65,500 level. The first key resistance is near the $66,200 level. A close above the $66,200 resistance might send the price further higher. In the stated case, the price could rise and test the $66,800 resistance. Any more gains might send the price toward the $67,500 level. The next barrier for the bulls could be $68,000.

Another Decline In BTC?

If Bitcoin fails to rise above the $66,200 resistance zone, it could start another decline. Immediate support is near the $64,650 level. The first major support is near the $64,200 level.

The next support is now near the $63,300 zone or the 50% Fib retracement level of the upward move from the $60,746 swing low to the $65,847 high. Any more losses might send the price toward the $62,500 support in the near term. The main support now sits at $61,800, below which BTC might struggle to recover in the near term.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $64,650, followed by $64,200.

Major Resistance Levels – $65,500 and $66,200.

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• DOGE price started a decent upward move above $0.0850 and $0.0880.
• The price is trading above the $0.0870 level and the 100-hourly simple moving average.
• There is a bullish trend line forming with support at $0.0870 on the hourly chart of the DOGE/USD pair (data source from Kraken).
• The price could continue to move up if it stays above $0.0850.

Dogecoin Price Faces Hurdles

Dogecoin price remained supported above the $0.0850 zone and started a fresh increase, like Bitcoin and Ethereum. DOGE climbed above the $0.0865 and $0.0870 resistance levels.

The price gained over 2% and tested the $0.0890 zone. There was a move above the 38.2% Fib retracement level of the downward move from the $0.0920 swing high to the $0.0855 low. Besides, there is a bullish trend line forming with support at $0.0870 on the hourly chart of the DOGE/USD pair.

Dogecoin price is now trading above the $0.0870 level and the 100-hourly simple moving average. If the bulls remain active, the price could attempt another increase. Immediate resistance on the upside is near the $0.0890 level and the 50% Fib retracement level of the downward move from the $0.0920 swing high to the $0.0855 low.

The first major resistance for the bulls could be near the $0.0905 level. The next major resistance is near the $0.0920 level. A close above the $0.0920 resistance might send the price toward the $0.0950 resistance. Any more gains might send the price toward the $0.10 level. The next major stop for the bulls might be $0.1050.

Another Decline In DOGE?

If DOGE’s price fails to climb above the $0.090 level, it could continue to move down. Initial support on the downside is near the $0.0870 level. The next major support is near the $0.0855 level.

The main support sits at $0.0850. If there is a downside break below the $0.0850 support, the price could decline further. In the stated case, the price might slide toward the $0.0820 level or even $0.080 in the near term.

Technical Indicators

Hourly MACD – The MACD for DOGE/USD is now losing momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level.

Major Support Levels – $0.0870 and $0.0855.

Major Resistance Levels – $0.090 and $0.10.

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