Bitcoin Dips From Highs, What Could Trigger Fresh Increase

Bitcoin price started a downside correction from the $68,500 zone against the US Dollar. BTC might start a fresh increase unless there is a break below $64,000. Bitcoin started a downside correction below the $68,000 and $67,000 levels. The price is still trading above $65,000 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $66,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh increase if the $64,000 support remains intact. Bitcoin Price Corrects Lower Bitcoin price gained pace above the $65,000 support zone. BTC extended its rally above the $66,500 and $67,000 resistance levels. The price even surged above the $68,000 level. It traded to a new all-time high near $68,495 before there was a downside correction. The price declined below the $68,000 and $67,800 support levels. There was a break below the 50% Fib retracement level of the upward move from the $65,200 swing low to $68,495 high. However, bitcoin still trading above $65,000 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $66,000 on the hourly chart of the BTC/USD pair. On the upside, an immediate resistance is near the $67,500 level. The first major resistance is near the $68,000 level. A clear break above $68,000 resistance may possibly call open the doors for a fresh increase. The next major resistance sits ...