Bitcoin

Resistance

Bitcoin price is moving lower from the $73,000 resistance. BTC must stay above the $67,000 support to start a fresh increase in the near term. 
<ul> 
 <li>Bitcoin price is correcting gains and moving lower from the $73,000 zone.</li> 
 <li>The price is trading below $71,000 and the 100 hourly Simple moving average.</li> 
 <li>There was a break below a key bullish trend line with support at $72,820 on the hourly chart of the BTC/USD pair (data feed from Kraken).</li> 
 <li>The pair could revisit the $67,000 support zone in the near term.</li> 
</ul> 
<h2 id="bitcoin-price-corrects-lower">Bitcoin Price Corrects Lower</h2> 
Bitcoin price made another attempt to gain strength above the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-surge-toward-75k/" target="_blank" rel="noopener ">$72,500 level</a>. However, there was no clear move above the $72,500 level and the price reacted to the downside. 
There was a drop below the $72,000 and $71,500 levels. Besides, there was a break below a key bullish trend line with support at $72,820 on the hourly chart of the BTC/USD pair. The pair even declined below the $70,000 level. A low is formed near $68,403 and the price is now showing a few bearish signs. 
Bitcoin is now trading below $71,000 and the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-faces-big-move-75k/" target="_blank" rel="noopener ">100 hourly Simple moving average</a>. Immediate resistance is near the $70,000 level or the 50% Fib retracement level of the downward move from the $72,043 swing high to the $68,403 low. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/03/Bitcoin_83c895.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-597919" src="https://www.newsbtc.com/wp-content/uploads/2024/03/Bitcoin_83c895.png?resize=1024%2C461" alt="Bitcoin Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/03/Bitcoin_83c895.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/03/Bitcoin_83c895.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/03/Bitcoin_83c895.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/03/Bitcoin_83c895.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/03/Bitcoin_83c895.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/03/Bitcoin_83c895.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/03/Bitcoin_83c895.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/BTCUSD/" target="_blank" rel="noopener nofollow">BTCUSD on TradingView.com</a> 
The next key resistance could be $70,500 or the 61.8% Fib retracement level of the downward move from the $72,043 swing high to the $68,403 low, above which the price could rise toward the $72,000 resistance zone. If there is a clear move above the $72,000 resistance zone, the price could even attempt a move above the $73,000 resistance zone. Any more gains might send the price toward the $75,000 level. 
<h2 id="more-losses-in-btc">More Losses In BTC?</h2> 
If Bitcoin fails to rise above the $70,500 resistance zone, it could continue to move down. Immediate support on the downside is near the $68,500 level. 
The first major support is $67,500. The main support sits at $67,000. If there is a close below $67,000, the price could start a decent pullback toward the $65,500 level. Any more losses might send the price toward the $65,000 support zone. 
Technical indicators: 
Hourly MACD – The MACD is now gaining pace in the bearish zone. 
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. 
Major Support Levels – $68,500, followed by $67,000. 
Major Resistance Levels – $70,500, $72,000, and $73,000.

Bitcoin Price Slides Within Range, Can Bulls Protect This Support?

목차

NewsBTC

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