Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»EXCHANGE NEWS»Bitcoin price resumes its rebound as bulls now target $75,000.
EXCHANGE NEWS

Bitcoin price resumes its rebound as bulls now target $75,000.

By Crypto FlexsMarch 12, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Bitcoin price resumes its rebound as bulls now target ,000.
Share
Facebook Twitter LinkedIn Pinterest Email

Bitcoin price began another rise above the $70,000 resistance level. BTC cleared $72,000 and now the bulls seem to be targeting a move towards $75,000.

  • Bitcoin price began another rise above the $70,000 and $71,000 levels.
  • The price is trading above $71,500 and the 100-hour simple moving average.
  • The hourly chart of the BTC/USD pair (data feed from Kraken) shows the formation of a short-term contraction triangle with resistance at $72,500.
  • A break above the $72,500 and $72,850 resistance levels could continue the upward move for the currency pair.

Bitcoin price sets new ATH

Bitcoin price remained stable above the $68,000 level. BTC formed a support base and recently broke above the $70,000 resistance level to start a new rally. The rally pushed the price above the $72,000 level.

The price hit an all-time high of $72,866. It is currently consolidating gains near the 23.6% Fib retracement level, rising from the $67,666 swing low to the $72,866 high. On the hourly chart of the BTC/USD pair, there is also a short-term contraction triangle with resistance forming at $72,500.

Bitcoin is currently trading above $72,000 and the 100-hour simple moving average. Immediate resistance is near the $72,500 level and triangle. The next major resistance could be $72,850, above which the price could rise towards the $73,500 resistance area.

Source: TradingView.com BTCUSD

In case of a clear break above the $73,500 resistance zone, the price may try to move above the $74,000 resistance zone. If more profits are made, the price could rise to the $75,000 level.

Fixing BTC’s shortcomings?

If Bitcoin fails to rise above the $72,500 resistance zone, a downward correction could begin. Immediate support for the downside is near the $72,000 level.

The first major support is the $70,000 or 50% Fib retracement level rising from the $67,666 swing low to the $72,866 high. If it closes below $70,000, the price could begin a significant decline towards the $68,500 level. Any more losses could lead the price towards the $66,600 support area.

Technical indicators:

Hourly MACD – MACD is now losing speed in bullish territory.

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

Key support levels – $72,000, $70,000.

Key resistance levels – $72,500, $72,850 and $73,500.

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.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Investors are the main level of support of the eyes.

June 6, 2025

Bitcoin prices slide again, causing new fear of deeper modifications.

June 5, 2025

The price is farther, and the investor of EDGE

June 5, 2025
Add A Comment

Comments are closed.

Recent Posts

ETF publisher’s latest warning -SEC’s approval process ‘Innovation, AIDS GIANTS’

June 7, 2025

Solana (SOL) introduces Alpenglow for faster blockchain agreement.

June 7, 2025

The Foresight Ventures report shows a collection shift where more than 32,000 sellers around the world accept encryption.

June 7, 2025

$ AB is live on Binance, guiding the new era of new cross chain asset mobility.

June 7, 2025

Trump memoin is faced with a $ 520m lock in July and the price drops by 85%.

June 7, 2025

Vaneck launches GPZ ETF for alternative asset managers.

June 7, 2025

Apple, X, Airbnb Eye Stablecoin Integration

June 7, 2025

Strategy to raise almost $ 1B by STRD priority proposal for BTC accumulation

June 7, 2025

Hash research CEO is appointed chief policy officer at the presidential office

June 7, 2025

Thorchain integrates the director of the XRP to facilitate the distributed swap.

June 7, 2025

Thorchain integrates the director of the XRP to facilitate the distributed swap.

June 7, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

ETF publisher’s latest warning -SEC’s approval process ‘Innovation, AIDS GIANTS’

June 7, 2025

Solana (SOL) introduces Alpenglow for faster blockchain agreement.

June 7, 2025

The Foresight Ventures report shows a collection shift where more than 32,000 sellers around the world accept encryption.

June 7, 2025
Most Popular

Hong Kong’s Project Ensemble Explores Tokenization of Banking with New CBDC Sandbox

August 29, 2024

Lido’s Breakout: How $2.70 Will Define LDO’s Next Move

January 6, 2025

2024-2025 Bull Run Strategy

January 10, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.