BTCUSD on TradingView.com<\/a><\/p>\nImmediate resistance is near the $71,300 level. The first major resistance could be $71,500. If there is a clear move above the $71,500 resistance zone, the price could start a strong increase. In the stated case, the price could even clear the $72,500 resistance zone in the near term. The next major resistance is near the $73,500 zone.<\/p>\n
Another Drop In BTC?<\/h2>\n If Bitcoin fails to rise above the $71,200 resistance zone, it could start another decline. Immediate support on the downside is near the $70,750 level and the channel trend line.<\/p>\n
The first major support is $70,200 and the 50% Fib retracement level of the upward move from the $69,128 swing low to the $71,306 high. The next support sits at $70,000. If there is a close below $70,000, the price could start a drop toward the $69,120 level. Any more losses might send the price toward the $68,500 support zone in the near term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now losing pace in the bullish 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 $70,750, followed by $70,200.<\/p>\n
Major Resistance Levels \u2013 $71,200, $71,500, and $73,500.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is consolidating above the $70,000 resistance zone. BTC might remain in a range for some time before the bulls attempt a move toward $75,000. Bitcoin price is struggling to gain pace above the $71,500 resistance zone. The price is trading above $70,500 and the 100 hourly Simple moving average. There is a short-term rising channel forming with support at $70,750 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could soon start a fresh rally if it clears the $71,500 resistance zone. Bitcoin Price Remains In Range Bitcoin price formed a base above the $69,000 resistance zone. BTC climbed higher the $70,000 resistance zone to move again into a positive zone. The price broke the $71,000 level but the bears were active below the $71,500 resistance. The recent high was formed near $71,306 and the price is now consolidating gains. It is trading near the 23.6% Fib retracement level of the upward move from the $69,128 swing low to the $71,306 high. Bitcoin is now trading above $70,500 and the 100 hourly Simple moving average. There is also a short-term rising channel forming with support at $70,750 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com Immediate resistance is near the $71,300 level. The first major resistance could be $71,500. If there is a clear move above the $71,500 resistance zone, the price could start a strong increase. In the stated case, the price could even clear the $72,500 resistance zone in the near term. The next major resistance is near the $73,500 zone. Another Drop In BTC? If Bitcoin fails to rise above the $71,200 resistance zone, it could start another decline. Immediate support on the downside is near the $70,750 level and the channel trend line. The first major support is $70,200 and the 50% Fib retracement level of the upward move from the $69,128 swing low to the $71,306 high. The next support sits at $70,000. If there is a close below $70,000, the price could start a drop toward the $69,120 level. Any more losses might send the price toward the $68,500 support zone in the near term. 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 $70,750, followed by $70,200. Major Resistance Levels \u2013 $71,200, $71,500, and $73,500.<\/p>\n","protected":false},"author":67,"featured_media":454689,"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-600652","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
Bitcoin Price Consolidates Above $70K, Can Bulls Pump BTC To $75K?<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n