Bitcoin (BTC) Price Prediction Update: Potential Breakout to $65,000

Bitcoin (BTC) Price Prediction Update

BTC/USD.

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The rate of Bitcoin (BTC) has declined by 5.68% over the last day.

On the hourly chart, the price of BTC has

made a false breakout of the local support

level of $66,767. However, one should pay attention to the daily bar closure. If it happens near the mentioned mark, there is a chance to see a breakout, followed by a move to $65,000.

On the bigger time frame, the rate of BTC has bounced off the support of $65,623.

If the candle closes far from it, traders may expect sideways trading in the area of $67,000-$70,000 within the next few days.

On the weekly chart, the price has made a false breakout of the recently formed resistance of $70,184. If bulls can get back in the game and restore the price above $70,000, there is a chance to see a new all-time high soon.

Bitcoin is trading at $68,169 at press time.

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