Bitcoin Price Prediction – $68,500 Remains the Threshold for $70,000…

It’s been a mixed morning session for Bitcoin and the broader market.

At the time of writing, Bitcoin, BTC to USD, was down by 0.23% to $66,782.0.

A mixed start to the day saw Bitcoin rise to an early morning high $67,359.0 before hitting reverse.

Falling short of the first major resistance level at $68,146, Bitcoin fell to a mid-morning low $66,243.0.

Steering clear of the first major support level at $66,028, Bitcoin revisited $67,000 levels before easing back.

The Rest of the Pack

It’s also been a mixed morning for the rest of the majors.

Litecoin was on the move once more, rallying by 10.07%.

Binance Coin (+2.55%) and Chainlink (+3.60%) also found strong support, with Bitcoin Cash SV (+0.69%), Ethereum (0.0%), and Polkadot (+0.25%) also avoiding the red.

It was a bearish morning for the rest of the majors, however, with Cardano’s ADA down by 2.14% to lead the way down.

Crypto.com Coin (-1.41%) and Ripple’s XRP (-0.27%) also saw red.

Through the early hours, the crypto total market cap rose to an early morning high $2,895bn before falling to an early morning low $2,846bn. At the time of writing, the total market cap stood at $2,878bn.

Bitcoin’s dominance rose to an early morning high 43.99% before falling to a late morning low 43.65%. At the time of writing, Bitcoin’s dominance stood at 43.69%.

For the Afternoon Ahead

Bitcoin would need to move back through the $67,236 pivot to bring the first major resistance level at $68,146 into play.

Support from the broader market will be needed, however, for Bitcoin to break back through to $68,000 levels.

Barring an extended crypto rally, the first major resistance level at $68,146 and Tuesday’s ATH $68,444.0 would likely cap any upside.

In the event of another extended rally through the afternoon, Bitcoin could test resistance at $70,000. The second major resistance level sits at $69,354.

Failure to move back through the $67,236 pivot would bring the first major support level at $66,028 into play.

Barring an afternoon reversal, however, Bitcoin should avoid sub-$66,000 levels.

The second major support level sits at $65,118.

Looking beyond the support and resistance levels, we saw the 50 EMA narrow on the 100 and the 200 EMAs this morning. We saw the 100 EMA pull away from the 200 EMA, however, limiting the damage.

Through the 2^nd half of the day, a pull away of the 50 EMA from the 100 and 200 would bring $70,000 levels into play.

Key through the late morning and early afternoon, however, would be to break out from $68,500 levels.

A fall back to sub-$66,500 levels would deliver a heavy loss on the day.