Bitcoin Price Gearing For Another Lift-Off to $72.5K: Dips Turn Attractive

Bitcoin Price Gearing For Another Lift-Off to $72.5K: Dips Turn Attractive

Bitcoin price found support near $67,500. BTC started a fresh increase and might soon revisit the $72,500 resistance zone in the near term.


  • Bitcoin retested the $67,500 support zone before it started a fresh increase.

  • The price is trading above $70,000 and the 100 hourly Simple moving average.

  • There was a break above a key bearish trend line with resistance at $69,600 on the hourly chart of the BTC/USD pair (data feed from Kraken).

  • The pair could gain bullish momentum if it clears the $71,400 resistance zone.

  • Bitcoin Price Holds Support


    Bitcoin price saw another decline below the $70,000 zone. BTC even dived below the $68,500 level after the US CPI increased more than expected. However, the bulls were active near the $67,500 support.


    A low was formed at $67,500 and the price started a fresh increase. There was a move above the $69,200 and $69,500 resistance levels. The price cleared the 50% Fib retracement level of the ..

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