Bitcoin Price Soars Back: Reclaims the Coveted $70K Milestone

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	459,727,842,287	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

459,727,842,287

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	44.43	1.18%	3,824.29	3,824.24	3,824.30

Price Change

Price Change %

Current Price

Bid Price

Offer

44.43

1.18%

3,824.29

3,824.24

3,824.30

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,839.89	3,758.07	3,776.41	3,779.86	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,839.89

3,758.07

3,776.41

3,779.86

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	08:08:28	0.006863	3,824.29	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

08:08:28

0.006863

3,824.29

USD

Price x Volume	Volume	Base Symbol	Related Pairs
57,132,807.78	15,016.16	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

57,132,807.78

15,016.16

Bitcoin Price Soars Back: Reclaims the Coveted $70K Milestone

21/05/2024 2:15am

NEWSBTC

Bitcoin price gained over 8% and surged above $70,000. BTC is now consolidating gains and showing signs of more upsides in the near term. Bitcoin started a fresh increase above the $70,000 resistance zone. The price is trading above $79,000 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $70,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase unless the bears push it below $68,800. Bitcoin Price Pumps 8% Bitcoin price formed a base above the $66,500 level. BTC started a fresh increase above the $68,000 resistance zone after Ethereum rallied above $3,200. There was a strong move above the $70,000 resistance zone. The price gained over 8% and even tested the $72,000 resistance zone. A new weekly high was formed at $71,896 and the price is now consolidating gains. The price is well above the 23.6% Fib retracement level of the upward move from the $66,047 swing low to the $71,896 high. Bitcoin is also trading above $79,000 and the 100 hourly Simple moving average. Besides, there is a connecting bullish trend line forming with support at $70,500 on the hourly chart of the BTC/USD pair. The price is now facing resistance near the $71,850 level. The first major resistance could be $72,000. The next key resistance could be $72,500. A clear move above the $72,500 resistance might send the price higher. In the stated case, the price could rise and test the $73,200 resistance. If the bulls remain in action, the price could rise toward the $74,400 resistance zone. Any more gains might send BTC toward the $75,000 barrier. Are Dips Limited In BTC? If Bitcoin fails to climb above the $72,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $70,500 level and the trend line. The first major support is $70,000. The main support is now forming near $68,850 or the 50% Fib retracement level of the upward move from the $66,047 swing low to the $71,896 high. Any more losses might send the price toward the $67,450 support zone in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 70 level. Major Support Levels – $70,500, followed by $70,000. Major Resistance Levels – $71,850, $72,000, and $72,500.

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