Bitcoin Price Faces Uphill Task But Indicators Signal More Upsides

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,237,842,058,550	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,237,842,058,550

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-720.92	-1.13%	63,018.11	63,022.27	63,022.28

Price Change

Price Change %

Current Price

Bid Price

Offer

-720.92

-1.13%

63,018.11

63,022.27

63,022.28

High Price	Low Price	Open Price	Prev. Close	52 Week Range
63,900.00	62,445.06	63,748.82	63,739.03	24,750.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

63,900.00

62,445.06

63,748.82

63,739.03

24,750.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	08:37:37	0.000015	63,018.11	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

08:37:37

0.000015

63,018.11

USD

Price x Volume	Volume	Base Symbol	Related Pairs
188,964,620.00	3,000.43	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

188,964,620.00

3,000.43

Bitcoin Price Faces Uphill Task But Indicators Signal More Upsides

28/03/2024 4:55am

NEWSBTC

Bitcoin price is consolidating gains above the $69,000 support zone. BTC must clear the $71,500 resistance zone to start a steady increase. Bitcoin price is still showing positive signs and facing resistance near $71,500. The price is trading above $69,000 and the 100 hourly Simple moving average. There is a major bullish trend line forming with support at $69,120 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it clears the $71,500 resistance zone. Bitcoin Price Holds Support Bitcoin price remained in a positive zone above the $68,800 resistance zone. BTC climbed higher the $70,000 resistance zone, but the bears were active near the $71,500 level. There were more than two attempts to clear the $71,500 level but the bulls failed. There was a downside correction, and the price tested the $68,400 support. A low was formed at $68,366 and the price is now starting a decent increase. There was a move above the 23.6% Fib retracement level of the downward move from the $71,746 swing high to the $68,366 low. Bitcoin is now trading above $69,000 and the 100 hourly Simple moving average. There is also a major bullish trend line forming with support at $69,120 on the hourly chart of the BTC/USD pair. Immediate resistance is near the $70,000 level or the 50% Fib retracement level of the downward move from the $71,746 swing high to the $68,366 low. The first major resistance could be $71,200. Source: BTCUSD on TradingView.com The main resistance is still near $71,500. If there is a clear move above the $71,500 resistance zone, the price could continue to gain strength. In the stated case, the price could even clear the $72,500 resistance zone in the near term. More Losses 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 $69,200 level and the trend line. The first major support is $68,400. The next support sits at $67,500. If there is a close below $67,500, the price could start a drop toward the $66,000 level. Any more losses might send the price toward the $66,000 support zone in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $68,400, followed by $67,000. Major Resistance Levels – $70,000, $71,500, and $73,500.

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