Bitcoin price started another increase above the $70,000 resistance. BTC cleared $72,000 and now the bulls seem to be aiming for a move toward $75,000.
- Bitcoin price started another increase above the $70,000 and $71,000 levels.
- The price is trading above $71,500 and the 100 hourly Simple moving average.
- There is a short-term contracting triangle forming with resistance at $72,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could continue to move up if it clears the $72,500 and $72,850 resistance levels.
Bitcoin Price Sets New ATH
Bitcoin price remained stable above the $68,000 level. BTC formed a support base and recently started a fresh increase above the $70,000 resistance. The bulls pumped the price above the $72,000 level.
The price traded to a new all-time high at $72,866. It is now consolidating gains near the 23.6% Fib retracement level of the upward move from the $67,666 swing low to the $72,866 high. There is also a short-term contracting triangle forming with resistance at $72,500 on the hourly chart of the BTC/USD pair.Bitcoin is now trading above $72,000 and the 100 hourly Simple moving average. Immediate resistance is near the $72,500 level and the triangle zone. The next key resistance could be $72,850, above which the price could rise toward the $73,500 resistance zone.
