Bitcoin, dear reader, has sorted out its recent identity crisis, roughly dipping around $67,500. It appears the most fashionable thing in the currency market was to oscillate, and now it may fancy a hop over $69,500.
- Our once elegant BTC has shed its bruises and is politely climbing above $68,500.
- The price now dawdles above $68,800 and the venerable 100‑hour simple moving average, as if promising stability.
- A waning channel is emerging, with resistance languishing at $69,550 on the hourly chart (courtesy of Kraken’s data feed).
- Should BTC stumble below the complacent $68,000-$67,400 strip, a dip may greet it with polite sympathy.
Bitcoin Price Faces Resistance
Our beloved Bitcoin, which was proudly parked above $70,000, has begun a graceful decline, slipping beneath $69,000. It even managed a flirtation with $68,000.
It fell below the 50% Fibonacci retracement line of its recent ascent from the $65,072 swing low to the $70,935 high. Yet, the bulls remain near the $67,400 bygone region, advancing steadily past $68,500.
Again, BTC cruises above $68,800 and the 100‑hour simple moving average. If it stays comfortably above $68,200, it may use that buffer to float even higher. The next hurdle-$69,500-awaits with eager anticipation, while a declining channel threatens at $69,550.
The first key obstacle on the horizon sits modestly at $70,500. Surpassing this might gently nudge the price toward $71,200. Should it persist, the next accolades could be found near $72,000, then $72,200 and $72,500.
Another Decline In BTC?
If Bitcoin cowers beneath the $69,500 wall, another descent may unfold. It must guard its immediate support at $68,000. The primary cushion lies directly at $67,400, corresponding to the 61.8% Fibonacci retracement of its recent leap from $65,072 to $70,935.
The secondary support now lingers around $67,000. Further losses might drag it toward the near‑term pit of $66,000. All in all, the lowest point of scrutiny is $65,000-below which our murky hero might struggle to regale itself with glory.
Technical indicators:
Hourly MACD – now gaining humorous momentum in the bullish camp.
Hourly RSI (Relative Strength Index) – has risen above the middling 50 level.
Major Support Levels – $68,000, then $67,400.
Major Resistance Levels – $69,500 and $70,000.
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2026-02-17 05:56