Bitcoin is range trading from $64,000 to $59,000 after hitting an all time high of $67,000 on October 20, 2021. Higher highs on the 1-hour chart has Bitcoin holding an upward sloping trendline and forming a rising triangle pattern. Resistance is at $64,000 and near term support is at fib 0.500 near $61,500 where all lines of EMA 20, 50, 100, and 200 are converging.
If the price breaks above the triangle pattern from the $64,400 mark, it can trigger a stronger rally towards fib 3.618 the $70,000 mark.
