{"id":609028,"date":"2024-05-21T01:15:08","date_gmt":"2024-05-21T01:15:08","guid":{"rendered":"https:\/\/wncen.com\/?p=609028"},"modified":"2024-06-11T11:54:39","modified_gmt":"2024-06-11T11:54:39","slug":"bitcoin-price-soars-70k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-soars-70k\/","title":{"rendered":"Bitcoin Price Soars Back: Reclaims the Coveted $70K Milestone"},"content":{"rendered":"<p><em>Bitcoin price gained over 8% and surged above $70,000. BTC is now consolidating gains and showing signs of more upsides in the near term.<\/em><\/p>\n<ul>\n<li>Bitcoin started a fresh increase above the $70,000 resistance zone.<\/li>\n<li>The price is trading above $79,000 and the 100 hourly Simple moving average.<\/li>\n<li>There is a connecting bullish trend line forming with support at $70,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could start another increase unless the bears push it below $68,800.<\/li>\n<\/ul>\n<h2>Bitcoin Price Pumps 8%<\/h2>\n<p>Bitcoin price formed a base above the $66,500 level. BTC started a <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-consolidates-65k-3\/\" target=\"_blank\" rel=\"noopener \">fresh increase<\/a> above the $68,000 resistance zone after Ethereum rallied above $3,200.<\/p>\n<p>There was a strong move above the $70,000 resistance zone. The price gained over 8% and even tested the $72,000 resistance zone. A new weekly high was formed at $71,896 and the price is now consolidating gains.<\/p>\n<p>The price is well above the 23.6% Fib retracement level of the upward move from the $66,047 swing low to the $71,896 high. Bitcoin is also trading above $79,000 and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-breaks-free-63500\/\" target=\"_blank\" rel=\"noopener \">100 hourly Simple moving average<\/a>. Besides, there is a connecting bullish trend line forming with support at $70,500 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>The price is now facing resistance near the $71,850 level. The first major resistance could be $72,000. The next key resistance could be $72,500. A clear move above the $72,500 resistance might send the price higher. In the stated case, the price could rise and test the $73,200 resistance.<\/p>\n<figure id=\"attachment_609029\" aria-describedby=\"caption-attachment-609029\" style=\"width: 1024px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_5b3fce.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-609029 size-full\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_5b3fce.png?resize=1024%2C449\" alt=\"Bitcoin Price\" width=\"1024\" height=\"449\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_5b3fce.png?w=1950 1950w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_5b3fce.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_5b3fce.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_5b3fce.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_5b3fce.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_5b3fce.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_5b3fce.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-609029\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n<p>If the bulls remain in action, the price could rise toward the $74,400 resistance zone. Any more gains might send BTC toward the $75,000 barrier.<\/p>\n<h2>Are Dips Limited In BTC?<\/h2>\n<p>If Bitcoin fails to climb above the $72,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $70,500 level and the trend line.<\/p>\n<p>The first major support is $70,000. The main support is now forming near $68,850 or the 50% Fib retracement level of the upward move from the $66,047 swing low to the $71,896 high. Any more losses might send the price toward the $67,450 support zone in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 70 level.<\/p>\n<p>Major Support Levels \u2013 $70,500, followed by $70,000.<\/p>\n<p>Major Resistance Levels \u2013 $71,850, $72,000, and $72,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price gained over 8% and surged above $70,000. BTC is now consolidating gains and showing signs of more upsides in the near term. Bitcoin started a fresh increase above the $70,000 resistance zone. The price is trading above $79,000 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $70,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start another increase unless the bears push it below $68,800. Bitcoin Price Pumps 8% Bitcoin price formed a base above the $66,500 level. BTC started a fresh increase above the $68,000 resistance zone after Ethereum rallied above $3,200. There was a strong move above the $70,000 resistance zone. The price gained over 8% and even tested the $72,000 resistance zone. A new weekly high was formed at $71,896 and the price is now consolidating gains. The price is well above the 23.6% Fib retracement level of the upward move from the $66,047 swing low to the $71,896 high. Bitcoin is also trading above $79,000 and the 100 hourly Simple moving average. Besides, there is a connecting bullish trend line forming with support at $70,500 on the hourly chart of the BTC\/USD pair. The price is now facing resistance near the $71,850 level. The first major resistance could be $72,000. The next key resistance could be $72,500. A clear move above the $72,500 resistance might send the price higher. In the stated case, the price could rise and test the $73,200 resistance. If the bulls remain in action, the price could rise toward the $74,400 resistance zone. Any more gains might send BTC toward the $75,000 barrier. Are Dips Limited In BTC? If Bitcoin fails to climb above the $72,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $70,500 level and the trend line. The first major support is $70,000. The main support is now forming near $68,850 or the 50% Fib retracement level of the upward move from the $66,047 swing low to the $71,896 high. Any more losses might send the price toward the $67,450 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 70 level. Major Support Levels \u2013 $70,500, followed by $70,000. Major Resistance Levels \u2013 $71,850, $72,000, and $72,500.<\/p>\n","protected":false},"author":67,"featured_media":609030,"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-609028","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":"\n<title>Bitcoin Price Soars Back: Reclaims the Coveted $70K Milestone<\/title>\n<meta name=\"description\" content=\"Bitcoin price gained over 8% and surged above $70,000. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. 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. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/wncen.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Soars Back: Reclaims the Coveted $70K Milestone","url":"http:\/\/wncen.com\/news\/bitcoin-price-soars-70k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-soars-70k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin-BTC-Soars.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin-BTC-Soars.jpg?fit=1792%2C1024"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","btcusd","btcusdt","xbtusd"],"dateCreated":"2024-05-21T01:15:08Z","datePublished":"2024-05-21T01:15:08Z","dateModified":"2024-06-11T11:54:39Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Soars Back: Reclaims the Coveted $70K Milestone\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-soars-70k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-soars-70k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/Bitcoin-BTC-Soars.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/Bitcoin-BTC-Soars.jpg?fit=1792%2C1024\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2024-05-21T01:15:08Z\",\"datePublished\":\"2024-05-21T01:15:08Z\",\"dateModified\":\"2024-06-11T11:54:39Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin-BTC-Soars.jpg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/609028"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=609028"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/609028\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/609030"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=609028"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=609028"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=609028"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}