Bitcoin is trading around $66,300 on Wednesday, extending gains after reclaiming the 50-day exponential moving average. The move comes as technical indicators flash a more bullish picture, though the largest cryptocurrency remains below both the 100-day and 200-day EMAs. Traders are now watching whether BTC can push through the next major hurdle near $68,082.
Price action this week
After dipping below $65,000 earlier this month, Bitcoin has staged a steady recovery. The 50-day EMA, currently at $65,150, has acted as a springboard. The price has held above that level since Monday, and the rally accelerated Tuesday. That's a positive sign for bulls, but the real test lies ahead.
Key levels to watch
The next major resistance is the 100-day EMA around $68,082. A break above that would open the door to the 200-day EMA at $73,982 and eventually the $84,410 area. On the downside, immediate support sits at the 50-day EMA ($65,150). Stronger support lies near $64,004. A sustained move below $64,004 would weaken the current bullish structure, but so far buyers have defended that zone.
Technical indicators
The relative strength index has climbed to 60, remaining above neutral 50 and below overbought territory. That leaves room for further upside without signaling exhaustion. The MACD is in positive territory, indicating building bullish momentum. Taken together, the indicators suggest the recovery has legs — at least for now.
The question is whether Bitcoin can sustain this momentum through the rest of the week. A close above $68,082 would be the clearest signal that the trend has shifted. Until then, traders are watching the 100-day EMA as the line in the sand.
