Bitcoin Price Reclaims Ground, Eyes on $70K Resistance
- Bitcoin price initiated a recovery from the $65,500 support zone.
- BTC is trading above $68,000 and the 100 hourly simple moving average.
- Resistance is at $69,250 with potential gains above $69,600.
- Immediate support levels are at $68,500 and $68,000.
The Bitcoin price has rebounded from a low of $65,646 after testing the key support zone at $65,500. Currently trading above critical resistance levels, BTC aims to break through the bearish trendline at $69,250 to potentially reach new highs beyond $70K.
Maintaining stability above the immediate support could enable Bitcoin to challenge higher resistance levels and possibly test the next barrier around $72K if bullish momentum continues. (Source)
