Bitcoin

Strong

Resistance

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-surges-above-70000/" data-wpel-link="internal">Bitcoin Price Surges Above $70,000</a><br></p>
<p style="text-align: justify">The cryptocurrency <strong><a href="https://coin-turk.com/bitcoin-dominance-yillik-en-dusuk-seviyeye-geriliyor-bu-piyasa-icin-ne-ifade-ediyor" data-wpel-link="internal">Bitcoin</a></strong> is giving hope to its investors by pushing its price above the $70,000 resistance zone. The <a href="https://en.coin-turk.com/bitcoins-rising-momentum-is-decreasing-due-to-liquidity-changes/" data-wpel-link="internal">BTC</a>/USD pair is gaining solid momentum above the $71,500 resistance level, preparing to continue its upward trend. However, it first needs to break through the $71,000 mark.</p> 
<h2 style="text-align: justify" id="bitcoin-price-stands-above-70-000">Bitcoin Price Stands Above $70,000</h2> 
<p style="text-align: justify">According to recent data, <a href="https://en.coin-turk.com/bitcoin-price-drops-following-inflation-data-release/" data-wpel-link="internal">Bitcoin</a>‘s price is trading around $70,250 and is above the 100-hour Simple Moving Average. On the hourly chart of the BTC/USD pair, a significant support level has been established at $70,200. This support level forms an important uptrend line that is bolstering Bitcoin’s rapid ascent.</p> 
<p style="text-align: justify">Bitcoin’s price has recently found solid support above the $69,000 resistance zone. This support has enabled BTC to move back into a positive region and rise above the $70,000 resistance zone.</p> 
<p style="text-align: justify">During the day, Bitcoin’s price exceeded the $71,000 level and tested the $71,500 resistance level. However, even though slight corrections at these levels are normal, BTC’s overall upward trend cannot be ignored. Currently, Bitcoin has formed a strong resistance level above $70,000, and surpassing the $71,500 resistance zone in the near term could signal the start of a new rally.</p> 
<p style="text-align: justify">In potential Bitcoin price increases, significant resistance levels at $72,500 and then $73,500 should be monitored.</p> 
<h2 style="text-align: justify" id="if-btc-fails-to-break-key-resistance">If BTC Fails to Break Key Resistance</h2> 
<p style="text-align: justify">If the cryptocurrency fails to break above the $71,500 resistance level, a downward trend could likely begin. So, what signs are there?</p> 
<p style="text-align: justify">Looking at immediate support levels, we see that BTC is near the $70,200 level and the trend line. However, the point of interest is the 50% Fibonacci retracement level of the upward move from $70,000 to $68,468, which is $71,539. If a close below $69,200 occurs, it is anticipated that the price could initiate a decline towards the $68,000 level. In this case, further losses could lead the price towards the support zone of $66,500 in the near term.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-334736 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/btc-kripto-para-coin-turk-com-1-7.png" alt="" width="1815" height="798"></p> 
<p style="text-align: justify">Looking at technical indicators, we observe that the hourly MACD is gaining momentum. The hourly RSI (Relative Strength Index) for BTC/USD is above the 50 level, which provides some optimism.</p> 
<p style="text-align: justify">However, the main support levels to watch in the market are $70,200 and $69,200. The resistance levels are set at $71,200, $71,500, and $73,500.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-price-surges-above-70000/" data-wpel-link="internal">Bitcoin Price Surges Above $70,000</a></h5>

Bitcoin Price Surges Above $70,000

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