Rally

Bitcoin

<ul> 
 <li>Bitcoin (BTC) has powerfully reclaimed the $70,000 psychological barrier, signaling a potential bullish breakout.</li> 
 <li>The surge comes after BTC consolidated above $65,000, indicating strong underlying support.</li> 
 <li>“This move could have significant implications for Bitcoin’s trajectory and might ignite further gains,” says market analyst Alican Çınarbaş.</li> 
</ul> 
<p><strong>Stay ahead of the crypto market curve with this in-depth analysis of Bitcoin’s price action, potential drivers, and what to expect next.</strong></p> 
<h2 id="strong-bitcoin-price-analysis-bulls-take-control-strong"><strong>Bitcoin Price Analysis: Bulls Take Control</strong></h2> 
<figure id="attachment_137184" aria-describedby="caption-attachment-137184" style="width: 100%" class="wp-caption alignnone">
 <a href="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/03/BTC-USDT-4D-Chart-on-Binance.webp?quality=70&amp;ssl=1"><img loading="lazy" decoding="async" class="size-full wp-image-137184" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/03/BTC-USDT-4D-Chart-on-Binance.webp?resize=696%2C470&amp;quality=70&amp;ssl=1" alt="BTC USDT 4D Chart on Binance" width="696" height="470" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/03/BTC-USDT-4D-Chart-on-Binance.webp?w=2442&amp;quality=70&amp;ssl=1 2442w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/03/BTC-USDT-4D-Chart-on-Binance.webp?resize=300%2C202&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/03/BTC-USDT-4D-Chart-on-Binance.webp?resize=1024%2C691&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/03/BTC-USDT-4D-Chart-on-Binance.webp?resize=768%2C518&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/03/BTC-USDT-4D-Chart-on-Binance.webp?resize=1536%2C1037&amp;quality=70&amp;ssl=1 1536w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/03/BTC-USDT-4D-Chart-on-Binance.webp?resize=2048%2C1382&amp;quality=70&amp;ssl=1 2048w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/03/BTC-USDT-4D-Chart-on-Binance.webp?resize=150%2C101&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/03/BTC-USDT-4D-Chart-on-Binance.webp?resize=696%2C470&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/03/BTC-USDT-4D-Chart-on-Binance.webp?resize=1068%2C721&amp;quality=70&amp;ssl=1 1068w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/03/BTC-USDT-4D-Chart-on-Binance.webp?resize=1920%2C1296&amp;quality=70&amp;ssl=1 1920w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2024/03/BTC-USDT-4D-Chart-on-Binance.webp?w=1392&amp;quality=70&amp;ssl=1 1392w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></a>
 <figcaption id="caption-attachment-137184" class="wp-caption-text">
  BTC USDT 4D Chart on Binance
 </figcaption>
</figure> 
<p>Bitcoin has decisively broken through the $70,000 resistance level, fueled by renewed bullish momentum. This follows a consolidation phase above $65,000, where BTC exhibited resilience and established a solid base for its upward trajectory. Technical indicators suggest that the rally could extend toward the $73,000 and $75,000 levels.</p> 
<h3 id="strong-key-technical-factors-behind-the-surge-strong"><strong>Key Technical Factors Behind the Surge</strong></h3> 
<p>Several factors underpin Bitcoin’s bullish outlook:</p> 
<p>* <strong>Moving Averages:</strong> BTC is trading comfortably above the 100-hour Simple Moving Average (SMA), a bullish sign.<br> * <strong>Trendline Support:</strong> A bullish trendline on the hourly chart near $67,500 offers immediate support.<br> * <strong>Fibonacci Retracement:</strong> The price has pulled back to the 23.6% Fibonacci retracement level, a potential launching pad for further gains.</p> 
<h2 id="strong-potential-upside-and-downside-scenarios-strong"><strong>Potential Upside and Downside Scenarios</strong></h2> 
<p><strong>Upside:</strong> A clear break above $71,200 could propel BTC to the next major resistance at $73,500, with a subsequent target of $75,000.</p> 
<p><strong>Downside:</strong> If BTC fails to hold above $70,000, it could slide towards support levels at $69,000 and $67,800 (trendline support). A breach of $67,800 might trigger further declines towards $66,800 and $65,500.</p> 
<h3 id="strong-conclusion-strong"><strong>Conclusion</strong></h3> 
<p>Bitcoin’s break above $70,000 strengthens its bullish narrative. While short-term volatility is expected, the overall market sentiment leans towards the upside. Investors should watch for key resistance levels and monitor technical indicators to gauge Bitcoin’s next move.</p> 
<div class="code-block-grte code-block-grte-2" style="margin: 8px 8px 8px 0; float: left;"> 
 <table style="width: 100%; border-collapse: collapse;"> 
  <tbody> 
   <tr> 
    <td style="width: 100%; text-align: left; background-color: #f2f2f2; padding: 10px;"> <a href="https://t.me/coinotagpro_bot/" target="_blank" rel="noopener"> <strong> <span style="color: #000000;">CLICK TO HERE TO JOIN</span> <span style="color: #e67e22;">OINOTAG PRO + COPY TRADE BASED ON NEWS TRADING</span> </strong> </a> </td> 
   </tr> 
  </tbody> 
 </table> 
</div>  
<p>The post <a rel="nofollow" href="https://en.coinotag.com/bitcoin-btc-surges-past-70k-could-further-rally-to-75k/">Bitcoin BTC Surges Past $70k, Could Further Rally to $75K</a> appeared first on <a rel="nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.</p>

Bitcoin BTC Surges Past $70k, Could Further Rally to $75K

Table of Contents

CO NEWS

Other articles published on Mar 26, 2024

Top 5 Penny Cryptocurrencies To Buy Now – Altcoins With 100X Potential?

DOGE, SHIB and BONK Price Prediction for March 26

Scotty The AI Lands On MEXC Kickstarter And Exchange With 33% Price Surge

SEC Seeks $2B in Fine in Case Against Ripple Labs With No Fraud Allegations

Optimism sets aside $3B for grants to its blockchain builders

Bitcoin Witnesses Record Capital Inflows as Short-Term Whales Reap Profits

Join our free newsletter for daily crypto updates!