Bitcoin Price Analysis: Bulls Aim for $67,500 📈
Bitcoin price is on a roll, having broken through several resistance levels and pushing towards the $67,500 mark. The technical indicators are showing a bullish trend, with the price trading above key moving averages and a strong trend line.
Key Points
* Bitcoin price has cleared the $60,000 hurdle and broke resistance levels near $63,000.
* The price is currently consolidating gains near the $66,000 zone.
* A close above $66,000 could lead to further gains towards the $67,500 level.
* The immediate support level is near $62,400, followed by the 200 simple moving average at $61,500.
* A break below the key bullish trend line at $61,550 could send Bitcoin towards the 100 simple moving average at $59,000.
Gold is also on the move
Gold is showing bullish signs, with prices aiming to break above the $2,480 resistance level.
Upcoming Economic Releases
* **US Housing Starts for June 2024 (MoM)** – Forecast 1.310M, versus 1.277M previous.
* **US Building Permits for June 2024 (MoM)** – Forecast 1.390M, versus 1.399M previous.
* **US Industrial Production for June 2024 (MoM)** – Forecast 0.3%, versus 0.9% previous.
These economic releases may have an impact on the markets, so it’s important to keep an eye on them.
