Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»EXCHANGE NEWS»Will the Bitcoin price fluctuate sharply and the upward trend extend to $70,000?
EXCHANGE NEWS

Will the Bitcoin price fluctuate sharply and the upward trend extend to $70,000?

By Crypto FlexsFebruary 29, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Will the Bitcoin price fluctuate sharply and the upward trend extend to ,000?
Share
Facebook Twitter LinkedIn Pinterest Email

Bitcoin price rose above $62,000. BTC is now consolidating gains and may soon attempt another upward move towards $64,000 resistance.

  • Bitcoin price is consolidating gains below the $60,000 resistance zone.
  • The price is trading above $60,500 and the 100-hour simple moving average.
  • The hourly chart of the BTC/USD pair (data feed from Kraken) shows a connecting bullish trendline with support at $60,950.
  • The pair could extend the current rally towards the $64,000 resistance area.

Bitcoin price jumps above $5,000

Bitcoin price remained strong above the $58,000 resistance zone. BTC formed a new support base and started another rally. It is up more than 10% and has broken many hurdles near $60,000 and $62,000.

The price also soared to around $64,000. A new multi-week high was formed near $64,000 before a sharp decline followed the Coinbase outage. The price plunged towards the $58,000 support area. A low was formed near $57,919 and the price began a new bounce.

It broke the $60,000 resistance line again. There was movement above the 50% Fib retracement level with a downward move from the $64,000 swing high to the $57,919 low.

Bitcoin is currently trading above $60,000 and the 100-hour simple moving average. On the hourly chart of the BTC/USD pair, there is also a connecting bullish trendline with support at $60,950. Immediate resistance is near the $62,500 level. It is close to the 76.4% Fib retracement level of the downward move from the $64,000 swing high to the $57,919 low.

Source: TradingView.com BTCUSD

The next major resistance could be $64,000, above which the price may rise towards the $65,000 resistance zone. If the bulls remain active, the price may cross $65,000 and test $66,400. The biggest hurdle for them appears to be around $68,000.

Are dips supported in BTC?

If Bitcoin fails to rise above the $62,500 resistance zone, a downward correction could begin. Immediate support for the downside is near the $60,800 level and trend line.

The first major grant is $60,000. If there is a close below $60,000, the price could begin a significant decline towards the $58,000 area. Any more losses could lead the price towards the $56,500 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 – $60,800, then $60,000.

Key resistance levels – $62,500, $64,000 and $65,000.

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.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin prices return to green -building exercise for more profits

June 26, 2025

Dogecoin (DOGE) after collision

June 23, 2025

Litecoin Key Support in Focus Price Eye Brake Out Determination

June 20, 2025
Add A Comment

Comments are closed.

Recent Posts

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Earns $9,800 Per Day With BTC Breaks Through $107,000, GoldenMining Global Market.

June 27, 2025

Why Bakkt Holdings can buy Bitcoin with a $ 1 billion increase

June 27, 2025

NVIDIA RTX strengthens FITY’s AI -centered innovation in Cooler Design.

June 27, 2025

Join Earn Mining To Mine Easily And Earn $7752 A Day

June 26, 2025

Bitcoin prices return to green -building exercise for more profits

June 26, 2025

Weed® Announces Partnership With Khalifa Kush; Launches Global Commercialization

June 26, 2025

GBM Launches Auction Festival With The Sandbox, Aavegotchi, Unstoppable Domains, And More

June 26, 2025

French “Spiderman” Scales Skyscraper To Launch World’s First Action Token

June 26, 2025

Deribit And SignalPlus Launch “The Summer Chase” Trading Competition 2025 Featuring A $300,000+ USDC Prize Pool

June 26, 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

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Earns $9,800 Per Day With BTC Breaks Through $107,000, GoldenMining Global Market.

June 27, 2025
Most Popular

Guggenheim issues $20 million worth of tokenized commercial paper on Ethereum.

September 29, 2024

Bitmex starts Nilusdt Perpetual Swap with a 50x leverage.

April 1, 2025

BitGet launches Pundixusdt Perpetual FutureS and enables trading bots.

May 1, 2025
  • 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.