Breaking
December 11, 2024

Bitcoin Surpasses $63,500: Analysis of Recent Price Action | usagoldmines.com

TLDR

Bitcoin price surpassed $63,500, breaking through key resistance levels
The price is trading above the 100 hourly Simple moving average
A bullish trend line break occurred at $63,220 on the hourly chart
Potential for further gains if price stays above $62,500 support
Key resistance levels ahead at $64,200 and $65,000

Bitcoin, the world’s leading cryptocurrency, has shown renewed strength in recent trading sessions, pushing past the $63,500 mark.

This upward movement has caught the attention of investors and analysts alike, as it represents a significant break above key resistance levels.

The price of Bitcoin has been trading above the 100 hourly Simple moving average, a technical indicator that suggests bullish momentum in the short term.

This move above the moving average is often seen as a positive sign by traders, indicating that buyers are in control of the market.

One of the most notable developments in Bitcoin’s recent price action was the break above a bearish trend line that had been acting as resistance at $63,220 on the hourly chart.

Bitcoin Price on CoinGecko

This breakthrough is significant because it suggests that the previous downward pressure has been overcome, at least temporarily.

The cryptocurrency’s price reached a local high of $63,965 before consolidating its gains. This consolidation phase is typical after a strong move upwards, as traders take profits and new buyers consider entering the market.

The fact that Bitcoin has held above the $63,500 level during this consolidation is seen as a positive sign by many market observers.

Looking at potential support levels, the $62,500 zone appears to be crucial. As long as the price remains above this threshold, there is a possibility for Bitcoin to extend its gains further.

This support level is being closely watched by traders as a key area to defend if the bullish momentum is to continue.

On the upside, Bitcoin faces immediate resistance near the $63,950 level, with the next significant hurdle at $64,200. A clear break above $64,200 could potentially open the path to the psychologically important $65,000 level.

Some analysts believe that surpassing $65,000 could trigger a more substantial rally, possibly leading to new all-time highs.

Technical indicators are currently painting a positive picture for Bitcoin. The MACD (Moving Average Convergence Divergence) is gaining momentum in the bullish zone, while the RSI (Relative Strength Index) is above the 50 level, both suggesting that the upward trend may have more room to run.

The post Bitcoin Surpasses $63,500: Analysis of Recent Price Action appeared first on Blockonomi.

 

Recent:

Dogwifhat (WIF) Price: Whale Moves 1.2M Tokens Worth $3.47M Oliver Dale | usagoldmines.com
Over $1.5B in Longs Liquidated as Bitcoin Sinks Under $95,000 Nicholas Say | usagoldmines.com
SUI Token [SUI] Price: Surges 35% to Record $4.23 Weekly Close Amid Rising Volume Oliver Dale | usag...
Ethereum (ETH) Price Shows Strong Weekly Performance as Price Tests Key Levels Oliver Dale | usagold...
Dogecoin (DOGE) Price: Whales Accumulate 550M Tokens Amid Technical Breakout Setup Oliver Dale | usa...
Chainlink (LINK) Price: Technical Indicators Align for Potential 30% Surge from Current Levels Olive...
Shiba Inu (SHIB) Price: Token Burns 2.44B Units While Network Expands Oliver Dale | usagoldmines.com
Bitcoin (BTC) Price Correction Triggers Market-Wide Selloff and Record Liquidations Oliver Dale | us...
XRP Price Action: $2.25 Support Holds Amid Rising Trading Activity Oliver Dale | usagoldmines.com
Pudgy Penguins Announces PENGU Token on Solana Blockchain Oliver Dale | usagoldmines.com
XRP Price Analysis: Major Support at $2.30 Could Propel Token to New Heights Oliver Dale | usagoldmi...
Solana (SOL) Price Watch: Solana’s $6B Open Interest Signals Strong Market Interest Oliver Dale | us...
Ethereum (ETH) Price: Breaks $4,000 as Weekly Transactions Hit $17.15 Billion Oliver Dale | usagoldm...
POPCAT (POPCAT) Price Analysis: Key Metrics Point to Crucial Trading Period Oliver Dale | usagoldmin...
Memecoins Take Center Stage as Whales Make Their Move Oliver Dale | usagoldmines.com
Bitcoin (BTC) Price Analysis: ETF Flows and Derivatives Paint Bullish Picture Oliver Dale | usagoldm...
JUSTICE Token ($JFP) Faces Market Challenges After High-Profile Launch Oliver Dale | usagoldmines.co...
Cardano (ADA) Price: Technical Analysis Points to Potential Breakout Above $1.24 Oliver Dale | usago...
Dogecoin (DOGE) Price: Forms Bullish Pattern as Whales Add to Holdings Oliver Dale | usagoldmines.co...
Bitcoin (BTC) Price: Technical Indicators Point to Market Top as Price Nears $100,000 Oliver Dale | ...
ApeCoin (APE) Price: Breaks Key Pattern as $2.70 Resistance Looms Oliver Dale | usagoldmines.com
PEPE ($PEPE) Price: Shatters Records with $11 Billion Market Milestone Oliver Dale | usagoldmines.co...
OpEd: The Bitcoin Blastoff – BTC’s Journey from Pariah to Portfolio Essential Nicholas Say | usagold...
Binance Coin (BNB) Price: Bulls Defend $700 Support Level After Recent High Oliver Dale | usagoldmin...
Chainlink (LINK) Price: Reports 126% Monthly Gain as Institutional Interest Grows Oliver Dale | usag...
Ethereum (ETH) Price: Ethereum Shows Bullish Signs Above $3,700 Support Oliver Dale | usagoldmines.c...
XRP Price Analysis: Exchange Balances Drop as $288M Moves to Private Wallets Oliver Dale | usagoldmi...
Render (RENDER) Price: Breaks $11.85 Barrier Amid Surge in Institutional Interest Oliver Dale | usag...
Dogecoin (DOGE) Price: Consolidates Near $0.44 as Trading Volume Rises Oliver Dale | usagoldmines.co...
Bitcoin (BTC) Price: Bitcoin Retreats Below $100,000 After Setting New Record Oliver Dale | usagoldm...
GameStop Stock Rises 7% After Keith Gill’s Social Media Return Oliver Dale | usagoldmines.com
PEPE Price: Cryptocurrency Analysis Shows Potential 100% Upside for Pepe Coin Oliver Dale | usagoldm...
SUI Token (SUI) Price: Action Indicates Possible Break of Previous High Oliver Dale | usagoldmines.c...
dogwifhat (WIF) Price: Achieves 54% Monthly Gains Despite Technical Warning Signs Oliver Dale | usag...
Shiba Inu’s (SHIB) Price: Network Soars Then Dips in December Oliver Dale | usagoldmines.com
Ethena’s (USDe) Price: Reaches $4.77B Market Cap Through Yield Strategy Oliver Dale | usagoldmines.c...
Bitcoin (BTC) Price: Capriole CEO Predicts Bitcoin (BTC) Could Double After Breaking $100K Oliver Da...
Bitcoin (BTC) Price: BlackRock’s IBIT ETF Approaches $50 Billion as Bitcoin Tests $96,000 Oliver Dal...
VeChain (VET) Price Soars Past $0.07: Market Cap Approaches $6 Billion After Rally Oliver Dale | usa...
Polygon (POL) Price: Shows Strong Recovery with 150% Monthly Gains Oliver Dale | usagoldmines.com
Cardano (ADA) Price: Hits $1.28 as Analysts Project 750% Growth Potential & Network Hits 134K TP...
Solana (SOL) Price: Jumps 6% as Grayscale Files for Spot Solana ETF on NYSE Oliver Dale | usagoldmin...
Dogecoin (DOGE) Price: Whales Show Their Hand with 160M Token Purchase Oliver Dale | usagoldmines.co...
Tron (TRX) Price: Token Surges 81% to Record-Breaking $0.43 Oliver Dale | usagoldmines.com
Binance Coin (BNB) Price: Sets New Benchmark Above $775 Level Oliver Dale | usagoldmines.com
PEPE Token ($PEPE) Price: Sees Massive 337B Token Accumulation by Single Whale Oliver Dale | usagold...
XRP Leads Altcoin Rally Amid Balanced Social Sentiment Oliver Dale | usagoldmines.com
Solana Memecoin MOODENG Jumps 120% After Coinbase Adds Token to Roadmap Nicholas Say | usagoldmines....
Shiba Inu (SHIB) Price: Breaks Key Resistance Levels Amid Market Recovery Oliver Dale | usagoldmines...
Cardano (ADA) Price: Marks Major Victory with $680M TVL and Record DEX Volume Oliver Dale | usagoldm...
Cryptocurrency Market Cap Hits $3.2 Trillion in November 2024 Oliver Dale | usagoldmines.com
Dogecoin (DOGE) Price: Major Whale Activity with $102M in Transfers Oliver Dale | usagoldmines.com
Polygon (MATIC) Price Analysis: Bulls Eye $0.70 Resistance Level Oliver Dale | usagoldmines.com
Ethereum (ETH) Price Shows Strength with 44% Monthly Gain and Decreased Supply Oliver Dale | usagold...
Bitcoin (BTC) Price Overview: Bitcoin Forms New Support Level While Bulls Eye $100K Mark Oliver Dale...
Chainlink (LINK) Price: Breaks Multi-Year Resistance as Whale Accumulates $6.68M Oliver Dale | usago...
XRP ($XRP) Price: Whale Accumulation Drives XRP to $2.74 Amid Record Network Activity Oliver Dale | ...
Ethereum (ETH) Price Action Shows Strength as Bulls Target $3,800 Mark Oliver Dale | usagoldmines.co...
PEPE Token Price (PEPE) Technical Analysis Points to Potential 200% Rally Target Oliver Dale | usago...
Chainlink (LINK) Price Breaks Key Resistance: Technical Analysis Reveals Next Targets Oliver Dale | ...
Cardano (ADA) Surges 213% Monthly as Analysts Eye $10 Price Target Oliver Dale | usagoldmines.com
THETA Token Price Surges Past $2.8 as Trading Volume Hits $682 Million Oliver Dale | usagoldmines.co...
Shiba Inu (SHIB) Sees Major Whale Accumulation Amid December Price Surge Oliver Dale | usagoldmines....
Dogecoin (DOGE) Market Analysis: Bulls Target $0.50 After November’s 161% Gain Oliver Dale | usagold...
BTC Price Analysis: Bitcoin (BTC) Poised for Strong December Performance After 37% November Gain Oli...
XRP (XRP) Price Breaks $2.30 Barrier as Trading Volume Surges to New Heights Oliver Dale | usagoldmi...
Litecoin (LTC) Price Breaks 18-Month Resistance Level at $115 Oliver Dale | usagoldmines.com
Solana’s Rise to Stardom & Its Memecoin Surge CryptoPR | usagoldmines.com
DOGE Price Analysis: Multiple Indicators Point to Possible $1-3 Range Oliver Dale | usagoldmines.com
Ethereum (ETH) Price Analysis: Key Levels to Watch as ETH Trades Near $3,600 Oliver Dale | usagoldmi...
Dogwifhat (WIF) Price: Token Approaches Critical Support After 35% Decline Oliver Dale | usagoldmine...
Pepe Coin (PEPE) Price: Token Faces Critical Support Test After 105% Monthly Rally Oliver Dale | usa...
XRP (XRP) Price Analysis: Whale Wallets Show Increased Activity in Q4 2024 Oliver Dale | usagoldmine...
Bitcoin (BTC) Price Forms Strong Base Above $95,000 as Bulls Target New Highs Oliver Dale | usagoldm...
XRP Price Update: Ripple’s Token Breaks Above Key Moving Average Oliver Dale | usagoldmines.com
XRP (XRP) Price Surges 33% Weekly as Institutional Interest Drives Price Above $1.47 Oliver Dale | u...
ADA Price : Cardano Whales Accumulate 130M Tokens as Price Tests $1 Resistance Oliver Dale | usagold...
ETH Price Surges Past $3,600: Ethereum (ETH) Shows Strength in Latest Market Move Oliver Dale | usag...
SOL Price Analysis: Solana ($SOL) Shows Strong Recovery Signs After Recent Market Correction Oliver ...
Solana-Based $CHILLGUY Token Surges 80% Weekly Despite Creator’s Legal Threats Oliver Dale | usagold...
SHIB Price: Shiba Inu Token Reports Record-Breaking 4500% Increase in Burn Rate Oliver Dale | usagol...
DOGE Price Analysis: Dogecoin (DOGE) Approaches Critical $0.40 Resistance Level Oliver Dale | usagol...
Crypto Alt Season Incoming? Altcoin Market Cap Hits Two-Year High as Crypto Rally Broadens Beyond Bi...
VeChain (VET) Price Analysis: Critical $0.037 Support Test Could Determine Next Major Move Oliver Da...
Cardano (ADA) Sets New Network Growth Records Amid Price Volatility Oliver Dale | usagoldmines.com
Uniswap (UNI) Price Rise as Company Announces $15.5M Bug Bounty Program Ahead of V4 Launch Oliver Da...
Dogecoin (DOGE) Price Analysis: Bulls Defend $0.365 Support Level Oliver Dale | usagoldmines.com
Bitcoin’s (BTC) Price Dip: $100k Still On Track, Smart Money Is Loading Up Oliver Dale | usagoldmine...
XRP Price Analysis: Bulls Defend $1.30 as Key Technical Level Oliver Dale | usagoldmines.com
Ethereum (ETH) Price: Golden Cross Formation Could Push Ethereum Above $4,000 Oliver Dale | usagoldm...
Dogwifhat (WIF) Surges 15% on Robinhood Listing: Technical Analysis Points to Further Gains Oliver D...
Solana (SOL) Price Breaks $250: Here’s Why $500 is Incoming Next Oliver Dale | usagoldmines.com
AVAX Price Update: Avalanche Token Holds Weekly Gains at $38 Support Oliver Dale | usagoldmines.com
Solana DEX Trading Volume Exceeds $100 Billion in November Oliver Dale | usagoldmines.com
Ethereum (ETH) Price Action: Bulls Defend Critical Support as $3,500 Beckons Oliver Dale | usagoldmi...
LINK Price Reaches $18.4 as Major Resistance Zone Approaches Oliver Dale | usagoldmines.com
Dogecoin Trading Volume Sets New Records Despite Price Volatility Oliver Dale | usagoldmines.com
POL Price Action: Understanding Polygon’s Journey from $0.30 to $0.60 Oliver Dale | usagoldmines.com
BTC Price Analysis: $9.4B Options Expiry Looms as Bitcoin Tests Support Levels Oliver Dale | usagold...
Binance Coin (BNB) Price Analysis: Key Levels to Watch Above $660 Oliver Dale | usagoldmines.com

By

Leave a Reply