Bitcoin has sent waves of excitement to the crypto community by breaking one of its most difficult zones at $67,000. But will the cryptocurrency maintain its newfound heights?

The Bitcoin Price Chart

Besides the $67,000 zone, the more difficult challenge for Bitcoin was overcoming the downward moving parallel channel which kept it under its influence for seven months. On October 14, BTC successfully broke out and crossed $66,900. At the time of writing, Bitcoin faces resistance at $68,300 and is trading at $66,877.

Other Market Metrics

The MACD histogram shows that buyers have been exhausted and a small correction is likely. The Moving Average 20 provides support at the current price level. The RSI dropped from 75 to 62, and there is a possibility prices may fall to $65,000 as many investors are now in profit.

Looking Ahead!

Despite a recent 2% drop, market conditions are stable. The support level holds strong, though it could fall to $65,000. The MACD histogram reflects growing seller power in the market.

Breaking past the $67,000 mark is a significant achievement for Bitcoin, but current conditions require careful observation of market dynamics and risks.