Bitcoin Price Jumps 10% But Can Pump BTC Back To $70K?
21 März 2024 - 3:59AM
NEWSBTC
Bitcoin price started a strong recovery wave from the $60,800 zone.
BTC is up nearly 10% and now facing hurdles near the $68,800
resistance. Bitcoin price started a decent increase from the
$60,800 support zone. The price is trading above $64,500 and the
100 hourly Simple moving average. There was a break above a key
bearish trend line with resistance at $65,000 on the hourly chart
of the BTC/USD pair (data feed from Kraken). The pair must clear
the $68,800 resistance zone to start a fresh uptrend. Bitcoin Price
Recovers 10% Bitcoin price extended its decline below the $62,500
zone. BTC even spiked below the $61,200 level before the bulls
appeared near $60,800. A low was formed near $60,778 and the price
is now moving higher. There was a decent increase above the $63,000
and $64,000 resistance levels. The price even cleared the 50% Fib
retracement level of the downward move from the $68,898 swing high
to the $60,778 low. There was a break above a key bearish trend
line with resistance at $65,000 on the hourly chart of the BTC/USD
pair. Bitcoin is now trading above $64,500 and the 100 hourly
Simple moving average. It is also above the 76.4% Fib retracement
level of the downward move from the $68,898 swing high to the
$60,778 low. Source: BTCUSD on TradingView.com Immediate resistance
is near the $68,000 level. The first major resistance could be
$68,800. If there is a clear move above the $68,800 resistance
zone, the price could continue to gain strength. In the stated
case, the price could even clear the $70,000 resistance zone in the
near term. The next key resistance sits at $72,500. Another Decline
In BTC? If Bitcoin fails to rise above the $68,800 resistance zone,
it could start another decline. Immediate support on the downside
is near the $66,800 level. The first major support is $65,500. The
next support sits at $64,800. If there is a close below $64,800,
the price could start a drop toward the $63,000 level. Any more
losses might send the price toward the $62,500 support zone in the
near term. Technical indicators: Hourly MACD – The MACD is now
gaining pace in the bullish zone. Hourly RSI (Relative Strength
Index) – The RSI for BTC/USD is now above the 60 level. Major
Support Levels – $65,500, followed by $64,800. Major Resistance
Levels – $68,000, $68,800, and $70,000.
TRON (COIN:TRXUSD)
Historical Stock Chart
Von Mär 2024 bis Apr 2024
TRON (COIN:TRXUSD)
Historical Stock Chart
Von Apr 2023 bis Apr 2024