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The post Will Bitcoin Rise Again and Break $65,000? appeared first on Coinpedia Fintech News
Even though the Fear and Greed Index is pointing at 61, Bitcoin slid down 1.70% in the last 24 hours. After reaching $66,450 Bitcoin price has returned to $64,140 after failing to register a support in upper areas. Let’s discover the reasons for this price fall.
Exhaustion of Buyers
The MACD indicator shows that buyers had thrusted all their power to push bitcoin above $64,140. Once breached this point, the market gained confidence that surged the price to $66,450. However a support converted to resistance present at this range rejected the price causing it to crash to the latest support zone. RSI had almost entered the overbought zone as well. 

The Zone of Dense Resistance
According to the data by IntoTheBlock, the immediate next price zone is the start of the heavy resistance zone. Between the price range of $66,845 and $78,500, 2.51 million bitcoin addresses have purchased

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