{"id":121488,"date":"2021-04-16T04:23:31","date_gmt":"2021-04-16T04:23:31","guid":{"rendered":"https:\/\/precoinnews.com\/?p=121488"},"modified":"2021-04-16T04:23:31","modified_gmt":"2021-04-16T04:23:31","slug":"ta-bitcoin-consolidates-heres-why-btc-could-surge-above-64k","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/ta-bitcoin-consolidates-heres-why-btc-could-surge-above-64k\/","title":{"rendered":"TA: Bitcoin Consolidates, Here\u2019s Why BTC Could Surge Above $64K"},"content":{"rendered":"<p><em>Bitcoin price started a downside correction from the $54,900 zone against the US Dollar. BTC is now consolidating and it could start a fresh increase if it clears $54,900<\/em><\/p>\n<ul>\n<li>Bitcoin is showing positive signs above the $62,500 and $62,000 levels.<\/li>\n<li>The price is now trading well above the $62,000 level and the 100 hourly simple moving average.<\/li>\n<li>There is a key contracting triangle forming with resistance near $63,700 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair is likely to start a fresh rally if it clears the main $64,000 resistance zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price is Holding Gains<\/h2>\n<p>Bitcoin traded to a new all-time high at $64,892 before starting a downside correction. BTC corrected below the $64,000 and $63,500 support levels.<\/p>\n<p>There was a spike below the $62,000 support, but the 100 hourly simple moving average acted as a support. The price is now trading well above the $62,000 level and the 100 hourly simple moving average. It recovered above the 50% Fib retracement level of the recent decline from the $64,892 swing high to $61,292 low.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/03\/spring-cta-2.gif\" \/><br \/>\n<img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/03\/AD2_728x90.gif\" \/><\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/04\/Bitcoin-13.png\"><\/p>\n<p>Source: BTCUSD on TradingView.com<\/p>\n<p>However, the bulls are now facing resistance near the $63,500 zone. There is also a key contracting triangle forming with resistance near $63,700 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>The triangle resistance is near the 61.8% Fib retracement level of the recent decline from the $64,892 swing high to $61,292 low. A successful break above the triangle resistance could spark an upside break above the $64,000 level. In the stated case, the price could rally towards the $65,000 level. Any more gains might call for a move towards the $66,500 and $66,800 levels in the near term.<\/p>\n<h2>Dips Supported in BTC?<\/h2>\n<p>If bitcoin fails to climb above $63,700 and $64,000, there could be another downside correction. An initial support on the downside is near the $62,500 level.<\/p>\n<p>The main support is now forming near the $62,000 level and the triangle trend line. A downside break below the triangle trend line support might lead the price further lower towards the key $61,120 support zone in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD &ndash; The MACD is slowly losing momentum in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) &ndash; The RSI for BTC\/USD is now just above the 50 level.<\/p>\n<p>Major Support Levels &ndash; $62,000, followed by $61,120.<\/p>\n<p>Major Resistance Levels &ndash; $63,500, $63,700 and $64,000.<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-btc-could-surge-64k\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price started a downside correction from<\/p>\n","protected":false},"author":3,"featured_media":121487,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>TA: Bitcoin Consolidates, Here\u2019s Why BTC Could Surge Above $64K - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/ta-bitcoin-consolidates-heres-why-btc-could-surge-above-64k\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TA: Bitcoin Consolidates, Here\u2019s Why BTC Could Surge Above $64K - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Bitcoin price started a downside correction from\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/ta-bitcoin-consolidates-heres-why-btc-could-surge-above-64k\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-16T04:23:31+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/04\/TA-Bitcoin-Consolidates-Heres-Why-BTC-Could-Surge-Above-64K.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/ta-bitcoin-consolidates-heres-why-btc-could-surge-above-64k\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/ta-bitcoin-consolidates-heres-why-btc-could-surge-above-64k\/\",\"name\":\"TA: Bitcoin Consolidates, Here\u2019s Why BTC Could Surge Above $64K - Pre Coin News\",\"isPartOf\":{\"@id\":\"https:\/\/precoinnews.com\/#website\"},\"datePublished\":\"2021-04-16T04:23:31+00:00\",\"dateModified\":\"2021-04-16T04:23:31+00:00\",\"author\":{\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/precoinnews.com\/crypto\/ta-bitcoin-consolidates-heres-why-btc-could-surge-above-64k\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/precoinnews.com\/crypto\/ta-bitcoin-consolidates-heres-why-btc-could-surge-above-64k\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/ta-bitcoin-consolidates-heres-why-btc-could-surge-above-64k\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/precoinnews.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Crypto\",\"item\":\"https:\/\/precoinnews.com\/category\/crypto\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"TA: Bitcoin Consolidates, Here\u2019s Why BTC Could Surge Above $64K\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/precoinnews.com\/#website\",\"url\":\"https:\/\/precoinnews.com\/\",\"name\":\"Pre Coin News\",\"description\":\"precoinnews.com\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/precoinnews.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"mediabest\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"caption\":\"mediabest\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"TA: Bitcoin Consolidates, Here\u2019s Why BTC Could Surge Above $64K - Pre Coin News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/precoinnews.com\/crypto\/ta-bitcoin-consolidates-heres-why-btc-could-surge-above-64k\/","og_locale":"en_US","og_type":"article","og_title":"TA: Bitcoin Consolidates, Here\u2019s Why BTC Could Surge Above $64K - Pre Coin News","og_description":"Bitcoin price started a downside correction from","og_url":"https:\/\/precoinnews.com\/crypto\/ta-bitcoin-consolidates-heres-why-btc-could-surge-above-64k\/","og_site_name":"Pre Coin News","article_published_time":"2021-04-16T04:23:31+00:00","author":"mediabest","twitter_card":"summary_large_image","twitter_image":"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/04\/TA-Bitcoin-Consolidates-Heres-Why-BTC-Could-Surge-Above-64K.jpg","twitter_misc":{"Written by":"mediabest","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/precoinnews.com\/crypto\/ta-bitcoin-consolidates-heres-why-btc-could-surge-above-64k\/","url":"https:\/\/precoinnews.com\/crypto\/ta-bitcoin-consolidates-heres-why-btc-could-surge-above-64k\/","name":"TA: Bitcoin Consolidates, Here\u2019s Why BTC Could Surge Above $64K - Pre Coin News","isPartOf":{"@id":"https:\/\/precoinnews.com\/#website"},"datePublished":"2021-04-16T04:23:31+00:00","dateModified":"2021-04-16T04:23:31+00:00","author":{"@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/precoinnews.com\/crypto\/ta-bitcoin-consolidates-heres-why-btc-could-surge-above-64k\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/precoinnews.com\/crypto\/ta-bitcoin-consolidates-heres-why-btc-could-surge-above-64k\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/precoinnews.com\/crypto\/ta-bitcoin-consolidates-heres-why-btc-could-surge-above-64k\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/precoinnews.com\/"},{"@type":"ListItem","position":2,"name":"Crypto","item":"https:\/\/precoinnews.com\/category\/crypto\/"},{"@type":"ListItem","position":3,"name":"TA: Bitcoin Consolidates, Here\u2019s Why BTC Could Surge Above $64K"}]},{"@type":"WebSite","@id":"https:\/\/precoinnews.com\/#website","url":"https:\/\/precoinnews.com\/","name":"Pre Coin News","description":"precoinnews.com","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/precoinnews.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"mediabest","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","caption":"mediabest"}}]}},"_links":{"self":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/121488"}],"collection":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/comments?post=121488"}],"version-history":[{"count":0,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/121488\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media\/121487"}],"wp:attachment":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media?parent=121488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/categories?post=121488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/tags?post=121488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}