It’s been a mixed morning session for Bitcoin and the broader market.
At the time of writing, Bitcoin, BTC to USD, was up by 4.26% to $65,955.0.
It’s been a bullish start to the day, with Bitcoin rallying from an early morning low $63,277.0 to a late morning high $66,398.0.
The morning rally saw Bitcoin break through the first major resistance level at $63,895 and the second major resistance level at $64,526.
Falling short of October’s ATH $66,958, however, Bitcoin eased back to sub-$66,000 levels.
The Rest of the Pack
It’s been a mixed morning for the rest of the majors.
Through the morning, Binance Coin (-0.94%) and Polkadot (-1.59%) saw red to buck the morning trend.
For the rest of the majors, however, it’s been a bullish morning.
Through the early hours, the crypto total market cap rose from an early morning low $2,743bn to a late morning high $2,850bn. At the time of writing, the total market cap stood at $2,846bn.
Bitcoin’s dominance fell to an early morning low 43.11% before rising to a high 43.97%. At the time of writing, Bitcoin’s dominance stood at 43.76.
For the Afternoon Ahead
Bitcoin would need to avoid a fall back to sub-$65,000 levels to bring October’s ATH $66,958.0 into play.
Support from the broader market will be needed, however, for Bitcoin to break out from the morning high $66,398.0.
Barring an extended crypto rally, ATH and resistance at $67,000 would likely cap any upside.
In the event of another extended rally through the afternoon, Bitcoin could test resistance at $70,000 before any pullback. The third major resistance level sits at $66,405.
A fall back to sub-$65,000 levels would bring the second major resistance level at $64,526 into play.
Barring an afternoon reversal, however, Bitcoin should avoid a fall back through the first major resistance level at $63,895.
Looking beyond the support and resistance levels, we saw the 50 EMA pull away from the 100 and the 200 EMAs this morning. We also saw the 100 EMA pull away from the 200 EMA.
Through the 2nd half of the day, a further pull away of the 50 EMA from the 100 and 200 would bring $70,000 levels into play.
Key through the late morning and early afternoon, however, would be to move back through to sub-$65,000 levels to support a breakout.