Bitcoin Breaks $65,000 Barrier (Daily Chart)

Following an aggressive full-bodied candle break above the $65,000 level to the $67,000 new ATH, BTC posted a mild drop to the $65,000 line. Earlier today, the primary cryptocurrency resumed an upward momentum to retest the new ATH but encountered immense bearish pressure near the $67,000 level, forcing a sharp correction to the $61,400 area. This correction found immediate support and bullish push from the 4-hour SMA, which pushed it back above the $65,000 level.

That said, BTC currently trades in overbought conditions and faces the possibility of another sharp correction in the near term.

Meanwhile, our resistance levels are at $66,000, $67,000, and $68,000, and our key support levels are at $64,000, $63,000, and $62,000.

Total Market Capitalization: $2.63 trillion

Bitcoin Market Capitalization: $1.22 trillion

Bitcoin Dominance: 46.4%

Market Rank: #1