Bitcoin Price Consolidates Above $70K As Bulls Prepare For More Gains
26 Março 2024 - 10:42PM
NEWSBTC
Bitcoin price is consolidating gains above the $70,000 resistance
zone. BTC could rally again if there is a move above the $71,500
resistance in the near term. Bitcoin price moved in a positive zone
above the $66,500 level. The price is trading above $70,000 and the
100 hourly Simple moving average. There is a key bullish trend line
forming with support at $68,500 on the hourly chart of the BTC/USD
pair (data feed from Kraken). The pair could start another increase
if it clears the $71,500 resistance zone. Bitcoin Price Regains
Strength Bitcoin price started a decent increase above the $68,800
resistance zone. BTC climbed higher above the $69,500 and $70,000
resistance levels. Finally, the price tested the $71,500 resistance
zone. A new weekly high was formed near $71,557 and the price is
now consolidating gains. There was a minor decline below the 23.6%
Fib retracement level of the upward move from the $66,811 swing low
to the $71,557 high. However, the price remained stable above
$69,000. Bitcoin is now trading above $70,000 and the 100 hourly
Simple moving average. There is also a key bullish trend line
forming with support at $68,500 on the hourly chart of the BTC/USD
pair. The trend line is close to the 61.8%% Fib retracement level
of the upward move from the $66,811 swing low to the $71,557 high.
Source: BTCUSD on TradingView.com Immediate resistance is near the
$70,800 level. The first major resistance could be $71,500. If
there is a clear move above the $71,500 resistance zone, the price
could continue to gain strength. In the stated case, the price
could even clear the $72,500 resistance zone in the near term. The
next key resistance sits at $73,500. Another Decline In BTC? If
Bitcoin fails to rise above the $71,500 resistance zone, it could
start another decline. Immediate support on the downside is near
the $70,000 level. The first major support is $69,000. The next
support sits at $68,500 and the trend line. If there is a close
below $68,500, the price could start a drop toward the $67,000
level and the 100 hourly SMA. Any more losses might send the price
toward the $66,000 support zone in the near term. Technical
indicators: Hourly MACD – The MACD is now losing pace in the
bullish zone. Hourly RSI (Relative Strength Index) – The RSI for
BTC/USD is now above the 50 level. Major Support Levels – $68,500,
followed by $67,000. Major Resistance Levels – $70,500, $71,500,
and $73,500.
Bitcoin (COIN:BTCUSD)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
Bitcoin (COIN:BTCUSD)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024