Long

Bitcoin

Resistance

when

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Popular cryptocurrency trader Jelle is<a href="https://twitter.com/CryptoJelleNL/status/1772968099924332995" rel="noopener noreferrer nofollow"> "pretty sure"</a> that the price of Bitcoin, the flagship cryptocurrency, could reach the much-coveted $75,000 level by the end of the week.&nbsp;
Bitcoin has already experienced an 18% correction, plunging below the $61,000 level last week. Since then, the cryptocurrency managed to pare these losses and reclaim the peak of the previous bull run.&nbsp;
Earlier today, the largest cryptocurrency surpassed the $71,500 level on major spot exchanges. However, it has since slipped below the $69,000 level.&nbsp;
As reported by U.Today, Bitcoin lost some ground together with the broader cryptocurrency market after Coinbase, the largest US exchange, failed to dismiss a lawsuit filed by the U.S. Securities and Exchange Commission. Now, the lawsuit is moving to the discovery phase.&nbsp;
For now, it seems like there is calm before another massive market move.&nbsp;
Coinglass&nbsp;<a href="https://www.coinglass.com/LiquidationData" rel="noopener noreferrer nofollow">data</a> shows that roughly $239 million worth of crypto has been liquidated over the past 24 hours. Long positions account for the lion's share of the sum ($166 million).
<h2 id="key-resistance-levels">Key resistance levels&nbsp;</h2>
At the same time, well-known cryptocurrency analyst Ali believes that the main resistance barrier for Bitcoin is between $70,180 and $70,600.
According to data provided by IntoTheBlock, a large concentration of 291,000 addresses that bought Bitcoin at the average price of $70,223 is out of the money.&nbsp;
As noted by blockchain analytics firm Glassnode, the flagship cryptocurrency had reached "a statistically significant level" when it comes to Unrealized profit held within its supply.&nbsp;
It is worth mentioning that only 21 days remain before the next Bitcoin halving, and some traders are still convinced that the largest cryptocurrency could see a major rally before this&nbsp;<a href="https://u.today/will-bitcoin-btc-rally-after-halving-analyst-answers" rel="noopener noreferrer nofollow">major event</a>.&nbsp;

Bitcoin (BTC) Price Might Be on Track to Hit $75,000, but There's Key Resistance

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