Bitcoin Price Sees Wild Swing Moves, Uptrend To Extend Toward $70K? - ADVFN

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Name	Symbol	Market	Market Cap ($)	Algorithm
TRON	TRXUSD	Crypto	12,081,264,801	Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.000215	-0.16%	0.137349	0.137339	0.13735

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.137743	0.136943	0.137564	0.137564	0.071373 - 0.144371

Exchange	Last Trade	Size	Trade Price	Currency
KRKN	14:15:19	50.57	0.137349	USD

Price x Volume	Volume	Base Symbol	Related Pairs
34,554.10	251,754.94	TRX	TRXEUR	TRXGBP	TRXBTC

Bitcoin Price Sees Wild Swing Moves, Uptrend To Extend Toward $70K?

29/02/2024 3:05am

NEWSBTC

Bitcoin price rallied further above $62,000. BTC is now consolidating gains and might soon attempt another upward move toward the $64,000 resistance. Bitcoin price is consolidating gains below the $60,000 resistance zone. The price is trading above $60,500 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $60,950 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend its current rally toward the $64,000 resistance zone. Bitcoin Price Jumps Over $5K Bitcoin price remained strong above the $58,000 resistance zone. BTC formed a fresh support base and started another rally. It gained over 10% and broke many hurdles near $60,000 and $62,000. The price even surged toward the $64,000 level. A new multi-week high was formed near $64,000 before there was a sharp decline after the Coinbase outage. The price dived toward the $58,000 support zone. A low was formed near $57,919 and the price started a fresh rally. It is back above the $60,000 resistance. There was a move above the 50% Fib retracement level of the downward move from the $64,000 swing high to the $57,919 low. Bitcoin is now trading above $60,000 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $60,950 on the hourly chart of the BTC/USD pair. Immediate resistance is near the $62,500 level. It is near the 76.4% Fib retracement level of the downward move from the $64,000 swing high to the $57,919 low. Source: BTCUSD on TradingView.com The next key resistance could be $64,000, above which the price could rise toward the $65,000 resistance zone. If the bulls remain in action, the price could even surpass $65,000 and test $66,400. The main hurdle for them is visible near the $68,000 zone. Are Dips Supported In BTC? If Bitcoin fails to rise above the $62,500 resistance zone, it could start a downside correction. Immediate support on the downside is near the $60,800 level and the trend line. The first major support is $60,000. If there is a close below $60,000, the price could start a decent pullback toward the $58,000 zone. Any more losses might send the price toward the $56,500 support zone. 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 50 level. Major Support Levels – $60,800, followed by $60,000. Major Resistance Levels – $62,500, $64,000, and $65,000.

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