Bitcoin Price Gradually Climbs: Steady Ascent Points to Bullish Momentum

2024-6-6 06:10

Bitcoin price started a decent increase above the $70,500 resistance. BTC is showing positive signs and might gain bullish momentum above the $72,000 resistance in the near term.

Bitcoin extended its increase above the $70,000 and $70,500 resistance levels. The price is trading above $70,000 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support at $70,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it settles above the $72,000 level. Bitcoin Price Regains Strength

Bitcoin price remained stable above the $69,500 zone its extended its increase. BTC was able to clear the $70,000 and $70,200 levels to move further into a positive zone.

The bulls even pushed the price above $70,500. A high was formed at $71,682 and the price is now consolidating gains. The price is holding gains above the 23.6% Fib retracement level of the upward move from the $67,285 swing low to the $71,682 high.

Bitcoin is now trading above $70,500 and the 100 hourly Simple moving average. There is also a key bullish trend line forming with support at $70,600 on the hourly chart of the BTC/USD pair.

On the upside, the price is facing resistance near the $71,400 level. The first major resistance could be $71,650. The next key resistance could be $72,000. A clear move above the $72,000 resistance might send the price higher. In the stated case, the price could rise and test the $73,200 resistance. Any more gains might send BTC toward the $75,000 resistance.

Are Dips Limited In BTC?

If Bitcoin fails to climb above the $71,400 resistance zone, it could start another decline. Immediate support on the downside is near the $70,600 level and the trend line.

The first major support is $70,000. The next support is now forming near $69,500 or the 50% Fib retracement level of the upward move from the $67,285 swing low to the $71,682 high. Any more losses might send the price toward the $68,500 support zone in the near term.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $70,600, followed by $70,000.

Major Resistance Levels – $71,600, and $72,000.

origin »

Resistance (RES) на Currencies.ru

$ 0 (+0.02%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: -20.21 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0018624 (-100%)

above bitcoin resistance increase momentum 500 price

above bitcoin → Результатов: 126


Bitcoin Dogs price: What’s the outlook as BTC spikes above $68k?

Bitcoin Dogs rose 30% in two weeks before paring gains. Bitcoin price is back above $68,000 after last week’s slip halted bulls’ momentum. With BTC regaining control above $68k, could this spark Bitcoin Dogs price? New upside momentum has pushed Bitcoin (BTC) above $68,500 following last week’s sharp decline that saw bears reject movement above […] The post Bitcoin Dogs price: What’s the outlook as BTC spikes above $68k? appeared first on CoinJournal.

2024-10-29 14:05


Фото:

Bitcoin’s climb above $60k causes futures open interest to surge $2B in a day

Bitcoin’s breakout above $60,000 seems to have triggered a new spark of optimism among traders. The market has been flat for most of August after experiencing a significant drop at the beginning of the month, which is why the relatively slight price increase above the $60,000 threshold was enough to inject the market with a […] The post Bitcoin’s climb above $60k causes futures open interest to surge $2B in a day appeared first on CryptoSlate.

2024-8-23 05:00