Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-climbs-above-70k-with-predictions-aiming-at-78k-peak" rel="noopener noreferrer nofollow">Bitcoin Climbs Above $70K with Predictions Aiming at $78K Peak</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoin-stabilizes-in-key-price-range-as-analysts-observe-increased-accumulation" rel="noopener noreferrer nofollow">Bitcoin</a>‘s value maintains its position above the $70,000 threshold, buoyed by a slowdown in outflows from spot exchange-traded funds. The digital currency’s recent surge has market watchers anticipating another significant price rally which could propel its value to new record levels. In the midst of this momentum, a chart analysis shared by a notable <a href="https://en.bitcoinhaber.net/stablecoin-surge-signals-investor-readiness-amid-potential-bitcoin-etf-approval" rel="noopener noreferrer nofollow">cryptocurrency</a> expert, TradingShot, on March 30 indicates a bullish trend that might lead to a peak of approximately $78,000.</p>
<h2 id="chart-analysis-foretells-bitcoin-s-ascent">Chart Analysis Foretells Bitcoin’s Ascent</h2>
<p style="text-align: justify">TradingShot’s analysis suggests that Bitcoin’s technical patterns are mirroring those of the S&amp;P 500 index, albeit in different scales and time frames. On a four-hour chart, Bitcoin shows a potential bullish crossover forming between its moving average and the 50-day moving average (MA50). This intersection could be a strong buying indicator, drawing from previous aggressive rallies seen in the S&amp;P 500’s market history.</p>
<h2 id="technical-indicators-support-bullish-sentiment">Technical Indicators Support Bullish Sentiment</h2>
<p style="text-align: justify">Further technical scrutiny, including the Relative Strength Index (RSI), reveals overbought conditions for both Bitcoin and the S&amp;P 500, indicating a potential continuation of the upward trend. This state is reinforced by the formation of an upward channel and a double bottom pattern, which traditionally signals additional buy potential. Bitcoin’s current positioning at the 0.786 Fibonacci retracement level, according to the S&amp;P 500 fractal, points to an eventual climb to the 1.382 extension zone, aligning with the predicted $78,000 target.</p>
<p style="text-align: justify">Moreover, Bitcoin has consistently defended against drops below the $60,000 mark, emphasizing the market’s resilience and bullish outlook. Presently, the cryptocurrency trades above $70,000, marking a roughly 9% increase in value over the last week, with its current price at $70,180.</p>
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoins-price-surge-continues-as-analysts-predict-new-highs/" data-wpel-link="internal" rel="noopener noreferrer nofollow" target="_blank">Bitcoin’s Price Surge Continues as Analysts Predict New Highs</a></h5>
<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-above-70k-with-predictions-aiming-at-78k-peak" rel="noopener noreferrer nofollow">Bitcoin Climbs Above $70K with Predictions Aiming at $78K Peak</a></h5>

Bitcoin Climbs Above $70K with Predictions Aiming at $78K Peak

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