Ascend

Bitcoin

Resistance

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-climbs-past-70000-key-resistance-and-support-markers-to-monitor">Bitcoin Climbs Past $70,000: Key Resistance and Support Markers to Monitor</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoins-remarkable-performance-and-its-influence-on-the-defi-sector-in-2023">Bitcoin</a> has been experiencing an upward trajectory, recently surpassing the $70,000 barrier. Market watchers are now keenly observing whether it will break the $71,500 resistance, which could pave the way for further increases. As the digital currency maintains its position above the $70,000 mark, along with the 100-hour Simple Moving Average, it shows strong market sentiment and potential for continued growth.</p> 
<h2 id="bitcoin-s-ascend-and-resistance-hurdles">Bitcoin’s Ascend and Resistance Hurdles</h2> 
<p style="text-align: justify">Following a bullish run that broke several key resistances, Bitcoin reached a fresh weekly peak of approximately $71,557. Despite this, a modest dip brought its value just below a notable Fibonacci retracement level. It has since regained its footing, trading steadily above the $69,000 support level. The first immediate resistance is seen around $70,800, but a decisive move past $71,500 could see the <a href="https://en.bitcoinhaber.net/bitcoin-rebounds-following-key-economic-reports">cryptocurrency</a> aiming for higher targets such as $72,500 and possibly $73,500.</p> 
<h2 id="support-levels-to-watch-if-bitcoin-retraces">Support Levels to Watch if Bitcoin Retraces</h2> 
<p style="text-align: justify">In the event Bitcoin fails to clear the $71,500 resistance, a downward correction could be triggered. The critical support level to watch in this scenario would be around $70,000. A further breakdown may lead to the first major support at $69,000 and subsequently, the pivotal $68,500 level. A close under this could precipitate a slide towards the $67,000 mark, with a possibility of further declines to the $66,000 support zone.</p> 
<p style="text-align: justify">Technical indicators show a mixed picture, with the hourly MACD losing bullish momentum, while the hourly Relative Strength Index (RSI) remains comfortably above the midpoint. Investors and traders are keeping a close eye on these key support and resistance levels: $68,500 and $67,000 on the downside, and $70,500, $71,500, and $73,500 on the upside, to gauge Bitcoin’s next potential moves.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-climbs-past-70000-key-resistance-and-support-markers-to-monitor">Bitcoin Climbs Past $70,000: Key Resistance and Support Markers to Monitor</a></h5>

Bitcoin Climbs Past $70,000: Key Resistance and Support Markers to Monitor

Table of Contents

BH NEWS

Other articles published on Mar 27, 2024

Revolutionizing Connectivity: The Rise of Decentralized Networks

Ethereum ETF : Will SEC Approve Ethereum ETF By May? Chances Declined To 25%

BlackRock's $9.5 Trillion May Flow Into Digital Assets, Bitcoin Expert Willy Woo Believes

$MAGA Coin Primed for New Break-Out — IsTrump Back? $GFOX to Hit $6M Mark This Month

Spot Bitcoin ETFs regain traction, posting $418M net inflows

Solana Decreases More Than 3% Within 24 hours

Join our free newsletter for daily crypto updates!