Bitcoin Price Analysis: BTC Bulls Aim to Reclaim $64K as Short-Term Investors See $62K as a Strong Support Level

Bitcoin crossed $64k on September 20th, but the buyers couldn’t sustain it at higher prices, suggesting that the sellers continue to find key resistance levels ideal for taking profits.

Bitcoin price showed signs of recovery last week as it attempted to rise above the key resistance at $64,000. If successful, BTC could rally toward $70,000. On the other hand, Ethereum price rose above the 20-day EMA and the 50-day SMA, indicating a bullish trend. If buyers thrust and sustain the coin above $64,000, it could rally past the $65,548 minor resistance and head to $70,0083.

The Relative Strength Index (63.08) has entered a positive zone and the 20-day Exponential Moving Average ($59,973) is rising, indicating buying pressure at lower levels. If the bulls thrust and keep the coin above $64,000, it could rally past the $65,548 minor resistance and head to $70,083.

On the other hand, if the sellers tug Bitcoin below $60,012, $59,974 will likely crumble, leading to a move to $55,749.

The sellers’ failure to pull Ethereum below the uptrend line indicates low selling pressure and increased buying at lower prices. The buyers pushed ETH above the 20-day Exponential Moving Average of $2,486 on September 19th and the 50-day Simple Moving Average of $2,583 the following day. The coin trades at $2,608 as of this writing.

Increased buying activity will enhance the chances of a surge to the 2,853.88 breakdown level or even to $3,407. Conversely, the sellers could drag Ethereum to $2,208 if $2,486 collapses.

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