Convergence

Bitcoin

Resistance

Gains

Divergence

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-climbs-past-key-resistance-levels-eyes-further-gains" rel="noopener noreferrer nofollow">Bitcoin Climbs Past Key Resistance Levels, Eyes Further Gains</a><br></p>
<p style="text-align: justify">Recent developments in <a href="https://en.bitcoinhaber.net/bitcoin-holds-steady-at-67000-as-market-experts-offer-insights" rel="noopener noreferrer nofollow">cryptocurrency</a> markets have seen <a href="https://en.bitcoinhaber.net/profit-taking-leads-to-potential-bitcoin-market-correction" rel="noopener noreferrer nofollow">Bitcoin</a> soar past critical resistance points. The digital currency has surged above $69,500 and $70,000, further crossing the $71,200 mark. This progression suggests a robust bullish behavior, hinting that Bitcoin’s value might escalate beyond $72,500 in the near term.</p>
<h2 id="bitcoin-solidifies-its-uptrend">Bitcoin Solidifies Its Uptrend</h2>
<p style="text-align: justify">Bitcoin’s latest price surge is a testament to its strength, as it now trades well above the $70,000 milestone and maintains its position above the 100-hour Simple Moving Average. The digital asset’s 4-hour chart reveals a notable uptrend line with support situated around $70,750, underpinning a potent bullish momentum for the currency’s immediate trajectory.</p>
<p style="text-align: justify">Despite the current upswing, Bitcoin does face hurdles at several resistance levels. The price is approaching a pivotal resistance near $72,000. Should Bitcoin conquer this level, it’s expected to tackle subsequent barriers at $72,500 and $72,800. A decisive breach above $72,800 could catalyze the onset of a sizeable bullish wave.</p>
<h2 id="challenges-await-if-resistance-holds">Challenges Await if Resistance Holds</h2>
<p style="text-align: justify">Should Bitcoin fail to eclipse the $72,000 resistance, a bearish downturn might ensue. The cryptocurrency’s immediate fallback is pegged at $70,750, which aligns with the key trend line. A dip below this critical juncture might trigger a correction towards $70,350 or lower.</p>
<h2 id="inferences-from-this-article">Inferences from This Article</h2>
<ul>
 <li>Breaking the $72,000 threshold may bolster investor confidence and initiate a new bullish cycle for Bitcoin.</li>
 <li>A fall below the significant support at $70,000 could result in a sharp descent to the $68,500 or $67,500 support zones, leading to substantial losses.</li>
</ul>
<p style="text-align: justify">In terms of <a href="https://en.bitcoinhaber.net/altcoin-market-shows-signs-of-recovery-amidst-ongoing-challenges" rel="noopener noreferrer nofollow">technical analysis</a>, the hourly Moving Average Convergence Divergence (MACD) indicates a slowdown in the bullish zone, suggesting potential price stabilization or weakness. The hourly Relative Strength Index (RSI) for BTC/USD is hovering around the midpoint, which typically offers insights into the market mood. Investors and traders are keeping a close eye on key support levels at $70,750 and $70,000, as overcoming the resistance at $72,000 could significantly influence Bitcoin’s price trajectory.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-climbs-past-key-resistance-levels-eyes-further-gains" rel="noopener noreferrer nofollow">Bitcoin Climbs Past Key Resistance Levels, Eyes Further Gains</a></h5>

Bitcoin Climbs Past Key Resistance Levels, Eyes Further Gains

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