Bitcoin

Convergence

Propel

Divergence

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-bulls-propel-btc-above-70000/" data-wpel-link="internal">Bitcoin Bulls Propel BTC Above $70,000</a> 
As the Easter holiday approaches, <a href="https://coin-turk.com/bitcoinin-7-gunluk-ortalama-islem-hacmi-son-iki-bucuk-yilin-en-dusuk-seviyelerinde" data-wpel-link="internal">Bitcoin</a> (<a href="https://coin-turk.com/1-bitcoin-kac-dolar-btc-yil-sonu-uzman-tahminleri" data-wpel-link="internal">BTC</a>) price continues to gain strength. In parallel with this rise, altcoins such as Ethereum (ETH) and <a href="https://en.coin-turk.com/ripple-acquires-licensed-company-to-bolster-growth/" data-wpel-link="internal">Ripple</a> (XRP) are also achieving similar gains. On the other hand, CME Gaps continue to maintain liquidity above and below the <a href="https://en.coin-turk.com/bitcoin-nears-45000-as-miners-hold-and-whales-accumulate/" data-wpel-link="internal">BTC</a> price. Analysts point out that <a href="https://en.coin-turk.com/bitcoin-price-drops-by-10-amid-speculation-over-secs-etf-decision/" data-wpel-link="internal">Bitcoin</a>‘s price being squeezed between $70,700 and $68,240 is causing the market to remain quite stagnant. In this case, it indicates that instead of expecting a trend in one direction in the market, inertia will continue. Therefore, individual investors continue to wait with a short-term bias. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-334721 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/btc-kripto-para-coin-turk-com-1-6.png" alt="" width="593" height="747"> 
While BTC bulls are back on stage, the Bitcoin price is significantly above $70,000. However, without a clear catalyst to affect the BTC market, investors seem inclined to take short positions, expecting a correction before the next move. 
This may be a logical approach, but technical data indicates an uptrend. The Relative Strength Index (RSI) is showing higher peaks well above its midline of 50, indicating rising momentum. Additionally, both the Awesome Oscillator and the Moving Average Convergence Divergence (MACD) are signaling a strengthening uptrend with green histograms. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-334722 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/kripto-para-btc-coin-turk-com-.png" alt="" width="1561" height="675"> 
If bulls increase buying pressure, BTC could overcome this barrier and reclaim the $73,777 peak, moving to a higher level. On the other hand, traders starting to take profits could halt the rally in Bitcoin’s price, leading to a pullback. If they break the average threshold of the supply zone at $61,509 and close below it, a long downtrend could begin. 
<h2 style="text-align: justify" id="ethereum-price-likely-to-correct-by-10-before-rising">Ethereum Price Likely to Correct by 10% Before Rising</h2> 
While the Bitcoin price remains steady, the Ethereum price could fall by about 10% to $3,160 before a possible recovery. Initially, the MACD could dip below the signal line while AO histograms turn red, indicating a weakening uptrend. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-334723 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/ethereum-coin-turk-com-1-3.png" alt="" width="1561" height="679"> 
On the other hand, considering that the RSI is rejecting further declines, bulls might still have the potential to push the Ethereum price higher. Increased buying power could move the ETH price to reclaim the psychological level of $4,000. 
<h2 style="text-align: justify" id="ripple-price-could-drop-below-0-6">Ripple Price Could Drop Below $0.6</h2> 
Depending on the show of strength in the BTC market, weakness in the Bitcoin price could affect the XRP price, pulling the cryptocurrency’s market value below the psychological level of $0.60 and potentially towards the bottom of the rising parallel channel. 
<img loading="lazy" decoding="async" loading="lazy" class="wp-image-334724 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/ripple-coin-turk-com-1-2.png" alt="" width="1571" height="673"> 
However, increased buying power could put Ripple (XRP) price into exploration mode, pushing it above the $0.70 level. A move above $0.7620 would be a positive sign, but the most desirable turnaround would involve a move that includes support at $0.8442. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-bulls-propel-btc-above-70000/" data-wpel-link="internal">Bitcoin Bulls Propel BTC Above $70,000</a></h5>

Bitcoin Bulls Propel BTC Above $70,000

Table of Contents

COINTURK NEWS

Other articles published on Mar 29, 2024

Why Is Bitcoin Cash (BCH) Token Price Up?

Tesla and Two Other Stocks Trading at 52-Week Lows that Can Rebound Strongly

🚀✨ HODL WEEKLY ROUNDUP: MAR 18 - MAR 24, 2024 ✨🚀

Bitcoin Breaks $70,000 Barrier as Crypto Market Sees Upward Trend

Top 3 Altcoins To Buy Before BTC Halving: Solana, Filecoin and 1000x A.I Token O2T

Telegram’s Mini Apps tipped to encourage blockchain adoption

Join our free newsletter for daily crypto updates!