Bitcoin

The post <a href="https://coinpedia.org/price-analysis/bitcoin-price-back-above-70000-may-reach-82000-if-this-trade-plays-out-well/">Bitcoin Price Back Above $70,000: May Reach $82,000 If This Trade Plays Out Well</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
Bitcoin reclaims a major resistance after remaining consolidated for a couple of days. The bulls are displaying significant strength as the levels continue to range high, slowly and steadily. With this, the probability of marking a new ATH emerges, provided the <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noreferrer noopener">BTC price</a> is required to close the quarterly trade above certain levels.&nbsp; 
The BTC price has faced a massive pullback in the past week but despite the repetitive attempts, the bears failed to drag the levels below the key support zone. This displayed a pretty clear picture of the bulls holding some dominance while undergoing a minor consolidation before the next upswing. Therefore, the upcoming quarterly close may have a remarkable impact on the upcoming price action, which may also set a strong base ahead of <a href="https://coinpedia.org/beginners-guide/what-is-bitcoin-halving/">Bitcoin halving</a>.&nbsp; 
Currently, the BTC price is reaccumulating around the old all-time highs before breaking out into price discovery. Considering the technical perspective, Bitcoin needs to stay above its old ATH at around $69,000, which may enable the token to exit the accumulation phase and initiate a fresh breakout.&nbsp; 
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In the short time frame, the BTC price is seen undergoing a fine parabolic curve, aiming to reach the upper resistance, which is situated at the current ATH. As the price is hovering very close to these levels, the possibility of forming a new ATH emerges. Besides, the RSI and StochRSI are close to displaying a bearish divergence but it may certainly not prevent the price from reaching new highs.&nbsp; 
Also Check Out The: <a href="https://coinpedia.org/price-analysis/back-above-70k-bitcoin-eyes-a-breakout-run-to-cross-75k/">Back Above $70K, Bitcoin Eyes A Breakout Run To Cross $75K!</a> 
The RSI is yet to enter the upper threshold and hence the <a href="https://markets.coinpedia.org/bitcoin/">Bitcoin price</a> may continue to range slightly higher than the current levels. Therefore, probably before the end of the month, the price is expected to mark a new ATH around $75,000, which may attract some bearish activity.&nbsp; 
However, as the token enters the ‘Halving’ month, the buyers maintain their dominance, which could prevent the bears from dragging the levels below the newly formed support zone around $73,500 and $74,000. Hence, triggering a fresh bullish move towards new highs, probably $100K.&nbsp;

Bitcoin Price Back Above $70,000: May Reach $82,000 If This Trade Plays Out Well

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