Bitcoin Price Prediction – A Move back through $66,500 Would Bring last Week’s ATH into Play

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

At the time of writing, Bitcoin, BTC to USD, was up by 0.49% to $65,797.4.

A mixed start to the day saw Bitcoin fall to a late morning low $65,259.7 before making a move.

Steering clear of the first major support level at $64,201, Bitcoin rose to a late morning high $66,343.9.

Bitcoin broke through the first major resistance level at $66,111 before falling back to sub-$66,000 levels.

The Rest of the Pack

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

Binance Coin (-0.68%) and Litecoin (-1.89%) saw red to buck the broader market trend.

For the rest of the crypto majors, it’s been a bullish morning, however.

Through the morning, Crypto.com Coin surged by 15.81% to lead the way.

Bitcoin Cash SV (+0.55%), Cardano’s ADA (+0.42%),  Chainlink (+2.06%), Ethereum (+2.07%), Polkadot (+0.69%), and Ripple’s XRP (+1.43%) also found support.

Through the early hours, the crypto total market cap fell to an early morning low $2,816bn before rising to a late morning high $2,870bn. At the time of writing, the total market cap stood at $2,855bn.

Bitcoin’s dominance rose to a late morning low 43.92% before falling to a late morning low 43.47%. At the time of writing, Bitcoin’s dominance stood at 43.45%.

For the Afternoon Ahead

Bitcoin would need to avoid a fall through the $64,837 pivot to bring the first major resistance level at $66,111 back into play.

Barring an extended rally, the first major resistance level and morning high $66,343.9 should limit the upside.

In the event of another extended rally through the afternoon, Bitcoin could test resistance at Wednesday’s ATH $68,958.0 before any pullback. The second major resistance level sits at $66,747 and the third major resistance level at $68,657.

A fall through the $64,837 pivot would bring the first major support level at $64,201.

Barring an afternoon reversal, however, Bitcoin should avoid sub-$64,000 levels.

The second major support level sits at $62,927.

Looking beyond the support and resistance levels, we saw a bullish cross with the 50 EMA crossing through the 100 EMA this morning. We also saw the 100 EMA pull away from the 200 EMA, providing further support.

Through the 2^nd half of the day, a further widening of the 50 EMA from the 100 would bring $68,000 levels into play. From there, momentum will dictate.

Key through the early afternoon would be to break back through the first major resistance level at $66,111.

A fall back to sub-$65,000 levels would deliver a heavy loss on the day.