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{"id":612155,"date":"2024-06-10T04:17:35","date_gmt":"2024-06-10T04:17:35","guid":{"rendered":"https:\/\/wncen.com\/?p=612155"},"modified":"2024-06-11T07:43:13","modified_gmt":"2024-06-11T07:43:13","slug":"bitcoin-price-resurgence-70k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-resurgence-70k\/","title":{"rendered":"Bitcoin Price Resurgence: Ready for Another Upswing?"},"content":{"rendered":"

Bitcoin price stayed above the $68,500 support zone. BTC is now consolidating and might aim for a fresh increase above the $70,150 resistance.<\/em><\/p>\n

\n
Bitcoin found support near $68,500 and started a decent recovery wave.<\/li>\n
The price is trading below $70,000 and the 100 hourly Simple moving average.<\/li>\n
There is a key bullish trend line forming with support at $69,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could decline again if there is no move above the $70,150 resistance.<\/li>\n<\/ul>\n
Bitcoin Price Faces Resistance<\/h2>\n
Bitcoin price extended its decline below the $70,000 support zone<\/a>. BTC even declined below the $69,500 level before the bulls appeared near $68,500. A low was formed at $68,409 and the price is now attempting a recovery wave.<\/p>\n
There was a move above the $69,250 resistance zone. The price climbed above the 23.6% Fib retracement level of the downward move from the $71,900 swing high to the $68,409 low.<\/p>\n
Bitcoin is now trading below $70,000 and the 100 hourly Simple moving average<\/a>. However, there is a key bullish trend line forming with support at $69,500 on the hourly chart of the BTC\/USD pair. On the upside, the price is facing resistance near the $70,000 level.<\/p>\n
$\"Bitcoin$ <\/a>
Source: BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
The first major resistance could be $70,150 and the 50% Fib retracement level of the downward move from the $71,900 swing high to the $68,409 low. The next key resistance could be $70,550. A clear move above the $70,550 resistance might send the price higher. In the stated case, the price could rise and test the $71,200 resistance. Any more gains might send BTC toward the $72,000 resistance.<\/p>\n
Another Decline In BTC?<\/h2>\n
If Bitcoin fails to climb above the $70,150 resistance zone, it could start another decline. Immediate support on the downside is near the $69,500 level and the trend line.<\/p>\n
The first major support is $69,150. The next support is now forming near $68,500. Any more losses might send the price toward the $67,500 support zone in the near term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now losing pace in the bearish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n
Major Support Levels \u2013 $69,500, followed by $68,500.<\/p>\n
Major Resistance Levels \u2013 $70,150, and $70,500.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price stayed above the $68,500 support zone. BTC is now consolidating and might aim for a fresh increase above the $70,150 resistance. Bitcoin found support near $68,500 and started a decent recovery wave. The price is trading below $70,000 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support at $69,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could decline again if there is no move above the $70,150 resistance. Bitcoin Price Faces Resistance Bitcoin price extended its decline below the $70,000 support zone. BTC even declined below the $69,500 level before the bulls appeared near $68,500. A low was formed at $68,409 and the price is now attempting a recovery wave. There was a move above the $69,250 resistance zone. The price climbed above the 23.6% Fib retracement level of the downward move from the $71,900 swing high to the $68,409 low. Bitcoin is now trading below $70,000 and the 100 hourly Simple moving average. However, there is a key bullish trend line forming with support at $69,500 on the hourly chart of the BTC\/USD pair. On the upside, the price is facing resistance near the $70,000 level. The first major resistance could be $70,150 and the 50% Fib retracement level of the downward move from the $71,900 swing high to the $68,409 low. The next key resistance could be $70,550. A clear move above the $70,550 resistance might send the price higher. In the stated case, the price could rise and test the $71,200 resistance. Any more gains might send BTC toward the $72,000 resistance. Another Decline In BTC? If Bitcoin fails to climb above the $70,150 resistance zone, it could start another decline. Immediate support on the downside is near the $69,500 level and the trend line. The first major support is $69,150. The next support is now forming near $68,500. Any more losses might send the price toward the $67,500 support zone in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $69,500, followed by $68,500. Major Resistance Levels \u2013 $70,150, and $70,500.<\/p>\n","protected":false},"author":67,"featured_media":612157,"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-612155","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":"\nBitcoin Price Resurgence: Ready for Another Upswing?<\/title>\n<meta name=\"description\" content=\"Bitcoin price stayed above the $68,500 support zone. 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