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Home»EXCHANGE NEWS»Bitcoin price could surge to $75,000.
EXCHANGE NEWS

Bitcoin price could surge to $75,000.

By Crypto FlexsMarch 14, 20243 Mins Read
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Bitcoin price could surge to ,000.
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Bitcoin price is looking to rise further above the $73,000 resistance level. BTC is preparing for a move towards $75,000 resistance in the near term.

  • Bitcoin price is showing positive signs and is eyeing further upside above $73,000.
  • The price is trading above $72,500 and the 100-hour simple moving average.
  • The hourly chart of the BTC/USD pair (data feed from Kraken) has a bullish trendline attached with support at $72,800.
  • A break above the $73,450 and $73,500 resistance levels could continue the upward move for the currency pair.

Bitcoin price sets new ATH

Bitcoin price remained above the $72,000 level. BTC formed a base and began a new rise above the $72,500 resistance. The price also exceeded the $73,000 level.

It traded at an all-time high above $73,500 before a downward correction. The price fell below the $73,000 and $72,500 levels. A low was formed near $71,725 ​​and the price is rising again. There was a move above the $73,000 level.

Bitcoin is currently trading above $72,500 and the 100-hour simple moving average. It is holding gains above the 50% Fib retracement level rising from the $71,725 ​​swing low to the $73,485 high.

Source: TradingView.com BTCUSD

Immediate resistance is near the $73,200 level. The next major resistance level could be $73,500, above which the price may rise towards the $74,200 resistance zone. In case of a clear break above the $74,200 resistance zone, the price may try to move above the $75,000 resistance zone. More profits could push the price higher to the $76,500 level.

Another shortcoming of BTC fixed?

If Bitcoin fails to rise above the $73,500 resistance zone, a downward correction could begin. Immediate support for the downside is near the $72,800 level and trend line.

The first major support is at $72,150, or the 76.4% Fib retracement level of the upward move from the $71,725 ​​swing low to the $73,485 high. If it closes below $72,150, the price could begin a significant decline towards the $70,000 level. Any more losses could lead the price towards the $68,500 support area.

Technical indicators:

Hourly MACD – MACD is now picking up speed in bullish territory.

Hourly Relative Strength Index (RSI) – The RSI for BTC/USD is now above the 50 level.

Key support levels – $72,800, then $72,150.

Key resistance levels – $73,200, $73,500 and $75,000.

Disclaimer: This article is provided for educational purposes only. This does not represent NewsBTC’s opinion on whether to buy, sell or hold any investment, and of course investing carries risks. We recommend that you do your own research before making any investment decisions. Your use of the information provided on this website is entirely at your own risk.

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