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{"id":602160,"date":"2024-04-09T03:11:00","date_gmt":"2024-04-09T03:11:00","guid":{"rendered":"https:\/\/uniquehot.com\/?p=602160"},"modified":"2024-06-11T08:08:18","modified_gmt":"2024-06-11T08:08:18","slug":"bitcoin-price-resumes-upside-why-btc-could-soon-hit-new-ath","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-resumes-upside-why-btc-could-soon-hit-new-ath\/","title":{"rendered":"Bitcoin Price Resumes Upside, Why BTC Could Soon Hit New ATH"},"content":{"rendered":"

Bitcoin price is moving higher above the $71,200 resistance. BTC is showing positive signs and might soon extend gains above $72,500.<\/em><\/p>\n

\n
Bitcoin climbed higher above $69,500 and $70,000 resistance levels.<\/li>\n
The price is trading above $70,000 and the 100 hourly Simple moving average.<\/li>\n
There is a key bullish trend line forming with support near $70,750 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could accelerate higher if it clears the $72,500 resistance zone.<\/li>\n<\/ul>\n
Bitcoin Price Regains Momentum<\/h2>\n
Bitcoin price started a decent increase above the $68,500 resistance zone<\/a>. BTC cleared the $69,500 and $70,000 resistance levels to move into a positive zone.<\/p>\n
The price even cleared the $71,200 resistance zone. A high was formed near the $72,609 level and the price is now correcting gains. There was a move below the $72,000 level. The price corrected lower below the 23.6% Fib retracement level of the upward wave from the $68,954 swing low to the $72,609 high.<\/p>\n
Bitcoin is now trading above $70,000 and the 100 hourly Simple moving average<\/a>. There is also a key bullish trend line forming with support near $70,750 on the hourly chart of the BTC\/USD pair. The trend line is close to the 50% Fib retracement level of the upward wave from the $68,954 swing low to the $72,609 high.<\/p>\n
Immediate resistance is near the $72,000 level. The first major resistance could be $72,500. The next resistance now sits at $72,800. If there is a clear move above the $72,800 resistance zone, the price could start a fresh increase.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/p>\n
In the stated case, the price could rise toward $73,500. The next major resistance is near the $74,000 zone. Any more gains might send Bitcoin toward the $75,000 resistance zone in the near term.<\/p>\n
Are Dips Supported In BTC?<\/h2>\n
If Bitcoin fails to rise above the $72,000 resistance zone, it could continue to move down. Immediate support on the downside is near the $70,7500 level or the trend line.<\/p>\n
The first major support is $70,350. The next support sits at $70,000. If there is a close below $70,000, the price could start a drop toward the $68,500 level. Any more losses might send the price toward the $67,500 support zone in the near term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now near the 50 level.<\/p>\n
Major Support Levels \u2013 $70,750, followed by $70,000.<\/p>\n
Major Resistance Levels \u2013 $72,000, $72,500, and $73,500.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is moving higher above the $71,200 resistance. BTC is showing positive signs and might soon extend gains above $72,500. Bitcoin climbed higher above $69,500 and $70,000 resistance levels. The price is trading above $70,000 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support near $70,750 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could accelerate higher if it clears the $72,500 resistance zone. Bitcoin Price Regains Momentum Bitcoin price started a decent increase above the $68,500 resistance zone. BTC cleared the $69,500 and $70,000 resistance levels to move into a positive zone. The price even cleared the $71,200 resistance zone. A high was formed near the $72,609 level and the price is now correcting gains. There was a move below the $72,000 level. The price corrected lower below the 23.6% Fib retracement level of the upward wave from the $68,954 swing low to the $72,609 high. 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 near $70,750 on the hourly chart of the BTC\/USD pair. The trend line is close to the 50% Fib retracement level of the upward wave from the $68,954 swing low to the $72,609 high. Immediate resistance is near the $72,000 level. The first major resistance could be $72,500. The next resistance now sits at $72,800. If there is a clear move above the $72,800 resistance zone, the price could start a fresh increase. Source: BTCUSD on TradingView.com In the stated case, the price could rise toward $73,500. The next major resistance is near the $74,000 zone. Any more gains might send Bitcoin toward the $75,000 resistance zone in the near term. Are Dips Supported In BTC? If Bitcoin fails to rise above the $72,000 resistance zone, it could continue to move down. Immediate support on the downside is near the $70,7500 level or the trend line. The first major support is $70,350. The next support sits at $70,000. If there is a close below $70,000, the price could start a drop toward the $68,500 level. Any more losses might send the price toward the $67,500 support zone in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now near the 50 level. Major Support Levels \u2013 $70,750, followed by $70,000. Major Resistance Levels \u2013 $72,000, $72,500, and $73,500.<\/p>\n","protected":false},"author":67,"featured_media":460128,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,1144,78790,76835],"class_list":["post-602160","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nBitcoin Price Resumes Upside, Why BTC Could Soon Hit New ATH<\/title>\n<meta name=\"description\" content=\"Bitcoin price is moving higher above the $71,200 resistance. 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