After the Bitcoin price managed to gain a foothold above $62000, it received good support to continue the rally. As a result, the BTC/USD pair was able to rise above the resistance levels of 63000 and 64000. At the time of publication, the BTC/USD pair is trading around 64300.
On the hourly chart, the BTC/USD pair is trading above the uptrend line that provides support for the pair around 63500 dollars.
If the BTC/USD pair manages to hold above the level of 64250, we will see the Bitcoin price rise to the area of 65000. Any move above the level of 65000 will help the BTC/USD pair rise to the area of 68000.
If the bears manage to push the Bitcoin price below 64250, it will drop to the 63500 area. This level provides reliable support for the pair. A breakdown of this level will provide the BTC/USD pair with a decline to the area of 62850.
