{"id":224,"date":"2024-10-07T06:54:48","date_gmt":"2024-10-07T06:54:48","guid":{"rendered":"https:\/\/ad-doge.com\/blog\/bitcoin-price-ready-to-resume-gains-can-the-uptrend-return\/"},"modified":"2024-10-07T06:54:48","modified_gmt":"2024-10-07T06:54:48","slug":"bitcoin-price-ready-to-resume-gains-can-the-uptrend-return","status":"publish","type":"post","link":"https:\/\/ad-doge.com\/blog\/bitcoin-price-ready-to-resume-gains-can-the-uptrend-return\/","title":{"rendered":"Bitcoin Price Ready to Resume Gains: Can the Uptrend Return?"},"content":{"rendered":"<p><em>Bitcoin price started a fresh increase above the $62,000 zone. BTC is gaining pace and might aim for more gains above the $63,500 zone.<\/em><\/p>\n<ul>\n<li>Bitcoin is eyeing a fresh increase above the $63,500 zone.<\/li>\n<li>The price is trading above $63,250 and the 100 hourly Simple moving average.<\/li>\n<li>There is a connecting bullish trend line forming with support at $62,900 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could continue to rise if it clears the $64,200 resistance zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Regains Traction<\/h2>\n<p>Bitcoin price formed a support base above the $60,000 zone. BTC started a fresh increase above the $61,200 and $62,000 resistance levels. The bulls even pumped the price above the $63,000 resistance.<\/p>\n<p>It traded as high as $63,949 and the price is now consolidating gains. It seems like the price is showing signs of a fresh rally above $63,500. BTC is above the 23.6% Fib retracement level of the upward move from the $62,324 swing low to the $63,949 high.<\/p>\n<p>Bitcoin price is now trading above $63,250 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $62,900 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>On the upside, the price could face resistance near the $64,000 level. The first key resistance is near the $64,200 level. A clear move above the $64,200 resistance might send the price higher. The next key resistance could be $65,000.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-646597 size-full\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/10\/Bitcoin_3ac775.png?resize=1024%2C478\" alt=\"Bitcoin Price\" width=\"1024\" height=\"478\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/10\/Bitcoin_3ac775.png?w=1835 1835w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/10\/Bitcoin_3ac775.png?w=460 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/10\/Bitcoin_3ac775.png?w=768 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/10\/Bitcoin_3ac775.png?w=860 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/10\/Bitcoin_3ac775.png?w=1536 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/10\/Bitcoin_3ac775.png?w=750 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/10\/Bitcoin_3ac775.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"\/><\/p>\n<p>A close above the $65,000 resistance might initiate more gains. In the stated case, the price could rise and test the $65,500 resistance level. Any more gains might send the price toward the $66,500 resistance level.<\/p>\n<h2>Are Dips Supported In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $64,000 resistance zone, it could start another decline. Immediate support on the downside is near the $63,500 level.<\/p>\n<p>The first major support is near the $63,000 level or the 50% Fib retracement level of the upward move from the $62,324 swing low to the $63,949 high or the trend line. The next support is now near the $62,500 zone. Any more losses might send the price toward the $61,800 support in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $63,500, followed by $63,000.<\/p>\n<p>Major Resistance Levels \u2013 $64,000, and $64,200.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price started a fresh increase above the $62,000 zone. BTC is gaining pace and might aim for more gains above the $63,500 zone. Bitcoin is eyeing a fresh increase above the $63,500 zone. The price is trading above $63,250 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming&hellip;<\/p>\n","protected":false},"author":1,"featured_media":225,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[142],"tags":[22,29,32,35,36,154],"class_list":["post-224","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-btc","tag-bitcoin","tag-bitcoin-price","tag-btc","tag-btcusd","tag-btcusdt","tag-xbtusd"],"_links":{"self":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/224","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/comments?post=224"}],"version-history":[{"count":0,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/224\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media\/225"}],"wp:attachment":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media?parent=224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/categories?post=224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/tags?post=224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}