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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoins-rally-continues-watch-these-critical-price-markers" rel="noopener noreferrer nofollow">Bitcoin’s Rally Continues: Watch These Critical Price Markers</a><br></p>
<p style="text-align: justify">The price of <a href="https://en.bitcoinhaber.net/bitcoins-trajectory-from-etf-launch-to-halving-event-anticipation" rel="noopener noreferrer nofollow">Bitcoin</a> has displayed vigour by surpassing the $70,000 resistance, with its current valuation exceeding $70,500. Analysts suggest that if the <a href="https://en.bitcoinhaber.net/bitcoin-ends-the-year-on-a-low-note-amidst-altcoin-fluctuations-and-etf-speculations" rel="noopener noreferrer nofollow">cryptocurrency</a> maintains its trajectory, it may reach towards the $73,000 and potentially $75,000 marks shortly.</p>
<h2 id="bitcoin-holds-above-crucial-support">Bitcoin Holds Above Crucial Support</h2>
<p style="text-align: justify">Recent data points to a bullish phase for Bitcoin, as it hovers above $70,500, having kept above the key support level of $66,500. Its position over the 100-hour Simple Moving Average further reinforces the positive outlook for the digital currency.</p>
<p style="text-align: justify">A significant trend line on the hourly Bitcoin/USD chart reveals support around $67,500, aligning with a key Fibonacci retracement level and hinting at the robust upward momentum of Bitcoin.</p>
<p style="text-align: justify">As it stands, Bitcoin faces an immediate hurdle near $70,700, with a decisive climb over the $71,200 threshold possibly kicking off a stronger ascent. Overcoming this barrier could see Bitcoin clear the $73,500 resistance zone, paving the way to $75,000.</p>
<h2 id="potential-dips-and-key-supports">Potential Dips and Key Supports</h2>
<p style="text-align: justify">Should Bitcoin be unable to break the $71,200 resistance, the possibility of a downward correction comes into play. The immediate support is pegged at $70,000, with a fall below the vital $69,000 mark likely to amplify selling pressure. Yet, the support at $67,800 could act as a buffer against a steeper plunge.</p>
<p style="text-align: justify">A breach beneath this support line may set the stage for a drop to $66,800, and potentially a further slip to the $65,500 support zone.</p>
<h2 id="technical-indicators-show-mixed-signals">Technical Indicators Show Mixed Signals</h2>
<p style="text-align: justify">Technical analysis shows the hourly MACD waning in the bullish territory, while the RSI stands above 60 for the <a href="https://en.bitcoinhaber.net/market-stirs-with-fake-bitcoin-etf-approval-news" rel="noopener noreferrer nofollow">BTC</a>/USD pair, hinting at the continuance of bullish momentum.</p>
<p style="text-align: justify">Market participants are closely watching the $69,000 and $67,800 levels. Fluctuations around these points could offer deeper insights into Bitcoin’s near-term directional bias.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoins-rally-continues-watch-these-critical-price-markers" rel="noopener noreferrer nofollow">Bitcoin’s Rally Continues: Watch These Critical Price Markers</a></h5>

Bitcoin’s Rally Continues: Watch These Critical Price Markers

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