Cryptocurrency

Bitcoin

Resistance

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-eyes-break-above-70000-resistance-level/" data-wpel-link="internal">Bitcoin Eyes Break Above $70,000 Resistance Level</a><br></p>
<p style="text-align: justify"><strong><a href="https://coin-turk.com/iki-bankacilik-devinden-onemli-ortaklik-kripto-ticaret-hizmetlerini-baslattilar" data-wpel-link="internal">Cryptocurrency</a></strong> flagship <a href="https://coin-turk.com/analist-bitcoindeki-beklentisini-guncelledi-btcde-kritik-fiyat-seviyeleri" data-wpel-link="internal">Bitcoin</a> has started to show positive signs above the recent $68,500 resistance level. However, investors are curious: Is it time to buy <a href="https://coin-turk.com/bu-haberlere-dikkat-bitcoin-ve-altcoinlerde-yon-belirlenebilir" data-wpel-link="internal">BTC</a> at these levels now? Let’s take a look at the latest developments and price movements in the market.</p> 
<h2 style="text-align: justify" id="bitcoin-must-surpass-70-000-for-upward-trend">Bitcoin Must Surpass $70,000 for Upward Trend</h2> 
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/anonymous-wallet-spends-66000-on-a-9mb-bitcoin-blockchain-inscription/" data-wpel-link="internal">Bitcoin</a></strong> needs to break above the $70,000 resistance level to gain upward momentum in the near term. Currently, a steady increase above the $69,500 and $70,000 levels is targeted. The price trading above the $68,000 level and the 100-hour simple moving average being above this level are considered positive signs.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-338506 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/btc-usdt-coin-turk-com-.png" alt="" width="1814" height="798"></p> 
<p style="text-align: justify">Looking at the hourly chart of the <a href="https://en.coin-turk.com/bitcoins-price-decline-under-37000-amidst-whale-sell-offs-and-its-impact-on-altcoins/" data-wpel-link="internal">BTC</a>/USD pair, a significant upward trend line is forming around $68,800. This indicates that the price has found solid support to maintain the uptrend. Therefore, if Bitcoin remains above the $68,000 support area, a new increase is anticipated.</p> 
<h2 style="text-align: justify" id="bitcoin-price-maintains-its-support">Bitcoin Price Maintains Its Support</h2> 
<p style="text-align: justify">Bitcoin price started a strong rise above the $67,500 resistance area and gained positive momentum. <strong>BTC</strong> cleared the $68,500 and $68,800 resistance levels, moving into a positive zone.</p> 
<p style="text-align: justify">With the price even surpassing the $70,000 resistance area, the highest level reached around $70,300. However, the price is currently correcting gains and has retreated below the $70,000 level. Bitcoin is now trading above the $68,000 level and also above the 100-hour simple moving average. The immediate resistance is near the $69,800 level, while the first major resistance is set at $70,000.</p> 
<p style="text-align: justify">In the upcoming period, if a clear move above the $70,300 resistance area is observed, the price is expected to gain a new upward momentum. In this case, Bitcoin’s movement towards $71,200 can be expected. Looking further ahead, Bitcoin’s potential journey towards the $73,500 resistance area in the near term should not be overlooked.</p> 
<h2 style="text-align: justify" id="downward-movement-could-bring-btc-to-this-level">Downward Movement Could Bring BTC to This Level!</h2> 
<p style="text-align: justify">If Bitcoin fails to break above the $70,000 resistance area, concerns about a potential downward correction are increasing. Bitcoin price recently encountered instant support near the $69,000 level or the trend line.</p> 
<p style="text-align: justify">However, the point of interest is that the upward move to $70,300 corresponds to the 50% Fibonacci retracement level between $67,800 and $65,116. This indicates that critical support levels exist for BTC’s price.</p> 
<p style="text-align: justify">If there is a close below $66,500, a downward trend towards the $65,350 level is anticipated. More losses could indicate a near-term move towards the $62,500 support area for Bitcoin.</p> 
<h2 style="text-align: justify" id="technical-indicators-signal-market-uncertainty">Technical Indicators Signal Market Uncertainty</h2> 
<p style="text-align: justify">Technical indicators show that the hourly MACD for Bitcoin is losing momentum in the bullish zone. Similarly, the hourly RSI (Relative Strength Index) for <strong>BTC/USD</strong> is currently hovering near the 50 level, indicating a market in uncertain equilibrium.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-338507 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/btc-usd-coin-turk-com-1-2.png" alt="" width="1814" height="798"></p> 
<p style="text-align: justify">In terms of key support levels, $68,800 and then $67,800 stand out. However, if BTC continues its upward movement, resistance levels such as $69,800, $70,000, and $71,200 should be monitored closely.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-eyes-break-above-70000-resistance-level/" data-wpel-link="internal">Bitcoin Eyes Break Above $70,000 Resistance Level</a></h5>

Bitcoin Eyes Break Above $70,000 Resistance Level

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