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{"id":600269,"date":"2024-03-29T02:09:53","date_gmt":"2024-03-29T02:09:53","guid":{"rendered":"https:\/\/ktsl888.com\/?p=600269"},"modified":"2024-06-11T10:16:37","modified_gmt":"2024-06-11T10:16:37","slug":"bitcoin-price-primed-to-clear-71500-and-rally-again","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-primed-to-clear-71500-and-rally-again\/","title":{"rendered":"Bitcoin Price Primed To Clear $71,500 and Rally Again"},"content":{"rendered":"

Bitcoin price is again rising above the $70,000 resistance zone. BTC seems to be setting up for a steady increase above the $71,500 resistance zone.<\/em><\/p>\n

\n
Bitcoin price is climbing higher and above the $70,000 resistance zone.<\/li>\n
The price is trading above $70,500 and the 100 hourly Simple moving average.<\/li>\n
There is a crucial bullish trend line forming with support at $70,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could soon start a fresh rally if it clears the $71,500 resistance zone.<\/li>\n<\/ul>\n
Bitcoin Price Regains Strength<\/h2>\n
Bitcoin price remained well-supported above the $69,000 resistance zone<\/a>. BTC climbed higher the $70,000 resistance zone to move again into a positive zone.<\/p>\n
The price broke the $71,000 level and retested $71,500. A high was formed near $71,539 and there was a downside correction. There was a minor decline below the 23.6% Fib retracement level of the upward move from the $68,468 swing low to the $71,539 high.<\/p>\n
Bitcoin is now trading above $70,000 and the 100 hourly Simple moving average<\/a>. There is also a crucial bullish trend line forming with support at $70,200 on the hourly chart of the BTC\/USD pair.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/p>\n
Immediate resistance is near the $71,200 level. The first major resistance could be $71,500. If there is a clear move above the $71,500 resistance zone, the price could start a strong increase. In the stated case, the price could even clear the $72,500 resistance zone in the near term. The next major resistance is near the $73,500 zone.<\/p>\n
Another Decline In BTC?<\/h2>\n
If Bitcoin fails to rise above the $71,500 resistance zone, it could start another decline. Immediate support on the downside is near the $70,200 level and the trend line.<\/p>\n
The first major support is $70,000 and the 50% Fib retracement level of the upward move from the $68,468 swing low to the $71,539 high. The next support sits at $69,200. If there is a close below $69,200, the price could start a drop toward the $68,000 level. Any more losses might send the price toward the $66,500 support zone in the near term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n
Major Support Levels \u2013 $70,200, followed by $69,200.<\/p>\n
Major Resistance Levels \u2013 $71,200, $71,500, and $73,500.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is again rising above the $70,000 resistance zone. BTC seems to be setting up for a steady increase above the $71,500 resistance zone. Bitcoin price is climbing higher and above the $70,000 resistance zone. The price is trading above $70,500 and the 100 hourly Simple moving average. There is a crucial bullish trend line forming with support at $70,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could soon start a fresh rally if it clears the $71,500 resistance zone. Bitcoin Price Regains Strength Bitcoin price remained well-supported above the $69,000 resistance zone. BTC climbed higher the $70,000 resistance zone to move again into a positive zone. The price broke the $71,000 level and retested $71,500. A high was formed near $71,539 and there was a downside correction. There was a minor decline below the 23.6% Fib retracement level of the upward move from the $68,468 swing low to the $71,539 high. Bitcoin is now trading above $70,000 and the 100 hourly Simple moving average. There is also a crucial bullish trend line forming with support at $70,200 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com Immediate resistance is near the $71,200 level. The first major resistance could be $71,500. If there is a clear move above the $71,500 resistance zone, the price could start a strong increase. In the stated case, the price could even clear the $72,500 resistance zone in the near term. The next major resistance is near the $73,500 zone. Another Decline In BTC? If Bitcoin fails to rise above the $71,500 resistance zone, it could start another decline. Immediate support on the downside is near the $70,200 level and the trend line. The first major support is $70,000 and the 50% Fib retracement level of the upward move from the $68,468 swing low to the $71,539 high. The next support sits at $69,200. If there is a close below $69,200, the price could start a drop toward the $68,000 level. Any more losses might send the price toward the $66,500 support zone in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $70,200, followed by $69,200. Major Resistance Levels \u2013 $71,200, $71,500, and $73,500.<\/p>\n","protected":false},"author":67,"featured_media":506223,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,1144,78790,76835],"class_list":["post-600269","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nBitcoin Price Primed To Clear $71,500 and Rally Again<\/title>\n<meta name=\"description\" content=\"Bitcoin price is again rising above the $70,000 resistance zone. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. 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