Aayush Jindal
Key Highlights
- Bitcoin started a recovery wave above $66,500 and $67,000.
- A bearish trend line is forming with resistance at $68,500 on the 4-hour chart of BTC/USD.
- Ethereum also climbed over 4% and surpassed $2,050.
- Gold is grinding higher toward the $4,760 resistance.
Bitcoin Price Technical Analysis
Bitcoin price remained supported above $65,000 against the US Dollar. BTC formed a base and started a recovery wave above $66,500.
Looking at the 4-hour chart, the price surpassed the 23.6% Fib retracement level of the downward move from the $72,001 swing high to the $64,915 low. However, the bears seem to be active near the $68,500 resistance.
There is also a bearish trend line forming with resistance at $68,500. The price is now well below the 100 simple moving average (red, 4-hour) and the 200 simple moving average (green, 4-hour).
Immediate support sits at $67,000. The first key support could be $66,500. The main breakdown support could be near $65,500. A downside break below $65,500 might start another decline. The next major support is $64,200, below which BTC could decline toward $63,500.
On the upside, the price now faces resistance near $68,500 and the trend line. The first key hurdle is $69,200, the 200 simple moving average (green, 4-hour), and the 50% Fib retracement level of the downward move from the $72,001 swing high to the $64,915 low.
A close above $69,200 could send the price toward $71,500. Any more gains might call for a test of $74,000.
Looking at Ethereum, the price also gained bullish momentum above $2,000, and the bulls could now aim for a move toward $2,200.
Today’s Key Economic Releases
- US Retail Sales for Feb 2026 (MoM) – Forecast +0.5%, versus -0.2% previous.
- US ADP Employment Change for March 2026 - Forecast 40K, versus 63K previous.
