Bitcoin Breaks Above $64K in 24 Hours as MACD Turns Positive; Analysts Eye $65K-$80K Resistance

According to analyst Omkar Godbole, Bitcoin climbed above $64,000 in the last 24 hours, with the long-term MACD indicator turning positive. This technical signal historically indicates increased likelihood of an uptrend continuing. Godbole noted that while the MACD turning positive is reliable, a sustained break above the critical resistance zone between $65,000 and $80,000 is necessary to confirm a new bull market. Key resistance levels within this range include the 50-day moving average at $65,434, the previous peak at $67,292, and the 200-day moving average at $71,147.

Meanwhile, Glassnode data shows Bitcoin has been consolidating in the $60,000-$70,000 range for 307 days, marking the third longest consolidation period in its history. Analysts emphasize that the direction Bitcoin exits this consolidation—which has lasted approximately 10 months—could determine the price trend, with breaches of upper resistance zones potentially strengthening a new uptrend.