Bitcoin Price Primed To Clear $71,500 and Rally Again

Mar 29, 2024 04:00 am Cryptocurrency 73

Bitcoin price is again rising above the $70,000 resistance zone. BTC seems to be setting up for a steady increase above the $71,500 resistance zone.

Bitcoin price is climbing higher and above the $70,000 resistance zone.

The price is trading above $70,500 and the 100 hourly Simple moving average.

There is a crucial bullish trend line forming with support at $70,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair could soon start a fresh rally if it clears the $71,500 resistance zone.

Bitcoin Price Regains Strength

Bitcoin price remained well-supported above the $69,000 resistance zone. BTC climbed higher the $70,000 resistance zone to move again into a positive zone.

The price broke the $71,000 level and retested $71,500. A high was formed near $71,539 and there was a downside correction. There was a minor decline below the 23.6% Fib retracement level of the upward move from the $68,468 swing low to the $71,539 ..

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