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{"id":650434,"date":"2024-10-29T03:02:19","date_gmt":"2024-10-29T03:02:19","guid":{"rendered":"https:\/\/uniquehot.com\/?p=650434"},"modified":"2024-10-29T03:02:19","modified_gmt":"2024-10-29T03:02:19","slug":"bitcoin-price-rallies-above-70k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-price-rallies-above-70k\/","title":{"rendered":"Bitcoin Price Rallies Above $70K: Is a New High Within Reach?"},"content":{"rendered":"

Bitcoin price is rallying above the $70,000 zone. BTC is up over 5% and it could soon aim for a move above the $72,000 resistance zone.<\/em><\/p>\n

\n
Bitcoin started a fresh increase above the $68,000 zone.<\/li>\n
The price is trading above $70,000 and the 100 hourly Simple moving average.<\/li>\n
There is a connecting bullish trend line forming with support at $68,700 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair is surging and might rise above the $72,000 resistance zone or even to a new all-time high.<\/li>\n<\/ul>\n
Bitcoin Price Starts Fresh Surge<\/h2>\n
Bitcoin price found support near the $66,500 zone. BTC formed a base and started a fresh increase above the $68,000 resistance<\/a>. The bulls were able to pump the price above the $70,000 resistance.<\/p>\n
The price regained strength and cleared the $70,500 level. It is up over 5% and trading above the $71,000 level. A high was formed at $71,482 and the price is now showing signs of strength. It is well above the 23.6% Fib retracement level of the upward move from the $65,531 swing low to the $71,482 high.<\/p>\n
Bitcoin price is now trading above $70,000 and the 100 hourly Simple moving average<\/a>. On the upside, the price could face resistance near the $71,500 level.<\/p>\n
$\"Bitcoin$ <\/a>
Source: BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
The first key resistance is near the $72,000 level. A clear move above the $72,000 resistance might send the price higher. The next key resistance could be $72,200. A close above the $72,200 resistance might initiate more gains. In the stated case, the price could rise and test the $73,000 resistance level. Any more gains might send the price toward the $74,000 resistance level and a new all-time high. Any more gains might call for a test of $75,000.<\/p>\n
Are Dips Supported In BTC?<\/h2>\n
If Bitcoin fails to rise above the $72,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $70,500 level.<\/p>\n
The first major support is near the $68,500 level or the 50% Fib retracement level of the upward move from the $65,531 swing low to the $71,482 high. The next support is now near the $67,800 zone. Any more losses might send the price toward the $66,500 support in the near term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n
Major Support Levels \u2013 $70,500, followed by $68,500.<\/p>\n
Major Resistance Levels \u2013 $71,500, and $72,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is rallying above the $70,000 zone. BTC is up over 5% and it could soon aim for a move above the $72,000 resistance zone. Bitcoin started a fresh increase above the $68,000 zone. The price is trading above $70,000 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $68,700 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is surging and might rise above the $72,000 resistance zone or even to a new all-time high. Bitcoin Price Starts Fresh Surge Bitcoin price found support near the $66,500 zone. BTC formed a base and started a fresh increase above the $68,000 resistance. The bulls were able to pump the price above the $70,000 resistance. The price regained strength and cleared the $70,500 level. It is up over 5% and trading above the $71,000 level. A high was formed at $71,482 and the price is now showing signs of strength. It is well above the 23.6% Fib retracement level of the upward move from the $65,531 swing low to the $71,482 high. Bitcoin price is now trading above $70,000 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $71,500 level. The first key resistance is near the $72,000 level. A clear move above the $72,000 resistance might send the price higher. The next key resistance could be $72,200. A close above the $72,200 resistance might initiate more gains. In the stated case, the price could rise and test the $73,000 resistance level. Any more gains might send the price toward the $74,000 resistance level and a new all-time high. Any more gains might call for a test of $75,000. Are Dips Supported In BTC? If Bitcoin fails to rise above the $72,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $70,500 level. The first major support is near the $68,500 level or the 50% Fib retracement level of the upward move from the $65,531 swing low to the $71,482 high. The next support is now near the $67,800 zone. Any more losses might send the price toward the $66,500 support in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $70,500, followed by $68,500. Major Resistance Levels \u2013 $71,500, and $72,000.<\/p>\n","protected":false},"author":67,"featured_media":650436,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83361],"tags":[428,679,1144,78790,76835],"class_list":["post-650434","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-btc","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nBitcoin Price Rallies Above $70K: Is a New High Within Reach?<\/title>\n<meta name=\"description\" content=\"Bitcoin price is rallying above the $70,000 zone. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/uniquehot.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Rallies Above $70K: Is a New High Within Reach?","url":"http:\/\/uniquehot.com\/analysis\/btc\/bitcoin-price-rallies-above-70k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/analysis\/btc\/bitcoin-price-rallies-above-70k\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/Bitcoin-Rally-70k.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/Bitcoin-Rally-70k.jpg?fit=1792%2C1024"},"articleSection":"BTC","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","btcusd","btcusdt","xbtusd"],"dateCreated":"2024-10-29T03:02:19Z","datePublished":"2024-10-29T03:02:19Z","dateModified":"2024-10-29T03:02:19Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Rallies Above $70K: Is a New High Within Reach?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/analysis\\\/btc\\\/bitcoin-price-rallies-above-70k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/analysis\\\/btc\\\/bitcoin-price-rallies-above-70k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/Bitcoin-Rally-70k.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/Bitcoin-Rally-70k.jpg?fit=1792%2C1024\"},\"articleSection\":\"BTC\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2024-10-29T03:02:19Z\",\"datePublished\":\"2024-10-29T03:02:19Z\",\"dateModified\":\"2024-10-29T03:02:19Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/Bitcoin-Rally-70k.jpg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/650434"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=650434"}],"version-history":[{"count":1,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/650434\/revisions"}],"predecessor-version":[{"id":650437,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/650434\/revisions\/650437"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/650436"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=650434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=650434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=650434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}