Svmuu News Bitcoin broke through the $64,000 resistance level on Tuesday, reaching an intraday high of $65,511 before closing at $64,858, down 0.18% for the day.Charts show that the downtrend channel for Bitcoin, which began near its May high of $82,000, has not yet completely broken down.
Technical indicators show that Bitcoin’s 50-day moving average is below its 200-day moving average, forming what traders call a “death cross.” The ADX stands at 23.4, indicating that the strength of the bearish trend is waning; the RSI is at 55.7, in the neutral to slightly bullish range.
Traders at the prediction market Myriad assign a 66.6% probability that Bitcoin will first fall to $55,000; the probability of it rising to $84,000 first is 33.4%. These probabilities have not changed significantly amid recent price fluctuations.