{"id":597386,"date":"2024-03-12T03:19:43","date_gmt":"2024-03-12T03:19:43","guid":{"rendered":"https:\/\/wncen.com\/?p=597386"},"modified":"2024-06-11T07:56:21","modified_gmt":"2024-06-11T07:56:21","slug":"bitcoin-price-resumes-rally-75k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/bitcoin-price-resumes-rally-75k\/","title":{"rendered":"Bitcoin Price Resumes Rally As The Bulls Now Aim For $75K"},"content":{"rendered":"<p><em>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.<\/em><\/p>\n<ul>\n<li>Bitcoin price started another increase above the $70,000 and $71,000 levels.<\/li>\n<li>The price is trading above $71,500 and the 100 hourly Simple moving average.<\/li>\n<li>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).<\/li>\n<li>The pair could continue to move up if it clears the $72,500 and $72,850 resistance levels.<\/li>\n<\/ul>\n<h2>Bitcoin Price Sets New ATH<\/h2>\n<p>Bitcoin price remained stable above the $68,000 level. BTC formed a support base and recently started a <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-rejects-70k\/\" target=\"_blank\" rel=\"noopener \">fresh increase above the $70,000 resistance<\/a>. The bulls pumped the price above the $72,000 level.<\/p>\n<p>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.<\/p>\n<p>Bitcoin is now trading above $72,000 and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-reclaims-66k\/\" target=\"_blank\" rel=\"noopener \">100 hourly Simple moving average<\/a>. 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.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Bitcoin_9ae50b.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-597387\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Bitcoin_9ae50b.png?resize=1024%2C461\" alt=\"Bitcoin Price\" width=\"1024\" height=\"461\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Bitcoin_9ae50b.png?w=1835 1835w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Bitcoin_9ae50b.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Bitcoin_9ae50b.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Bitcoin_9ae50b.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Bitcoin_9ae50b.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Bitcoin_9ae50b.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Bitcoin_9ae50b.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/p>\n<p>If there is a clear move above the $73,500 resistance zone, the price could even attempt a move above the $74,000 resistance zone. Any more gains might send the price toward the $75,000 level.<\/p>\n<h2>Downside Correction In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $72,500 resistance zone, it could start a downside correction. Immediate support on the downside is near the $72,000 level.<\/p>\n<p>The first major support is $70,000 or the 50% Fib retracement level of the upward move from the $67,666 swing low to the $72,866 high. If there is a close below $70,000, the price could start a decent pullback toward the $68,500 level. Any more losses might send the price toward the $66,600 support zone.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $72,000, followed by $70,000.<\/p>\n<p>Major Resistance Levels \u2013 $72,500, $72,850, and $73,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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. Source: BTCUSD on TradingView.com If there is a clear move above the $73,500 resistance zone, the price could even attempt a move above the $74,000 resistance zone. Any more gains might send the price toward the $75,000 level. Downside Correction In BTC? If Bitcoin fails to rise above the $72,500 resistance zone, it could start a downside correction. Immediate support on the downside is near the $72,000 level. The first major support is $70,000 or the 50% Fib retracement level of the upward move from the $67,666 swing low to the $72,866 high. If there is a close below $70,000, the price could start a decent pullback toward the $68,500 level. Any more losses might send the price toward the $66,600 support zone. Technical indicators: Hourly MACD \u2013 The MACD is now losing 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 $72,000, followed by $70,000. Major Resistance Levels \u2013 $72,500, $72,850, and $73,500.<\/p>\n","protected":false},"author":67,"featured_media":461422,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[428,679,1144,78790,76835],"class_list":["post-597386","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Resumes Rally As The Bulls Now Aim For $75K<\/title>\n<meta name=\"description\" content=\"Bitcoin price started another increase above the $70,000 resistance. 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