Bitcoin is experiencing another surge in its price, trading above $75,000, and is eyeing the $77,000 resistance zone. After breaching the $74,500 zone, BTC achieved a new all-time high at $76,937 and is consolidating these gains. The current positive trend is supported by a bullish line at $75,450.
The price is trading above $75,200 along with the 100 hourly Simple moving average. Resistance levels are identified at $76,000 and $76,200, with a clear movement above this potentially pushing the price to $78,000. Further gains could see the price testing the $78,800 resistance.
If Bitcoin doesn't surpass the $76,200 resistance, it risks a downtrend. Support exists at $75,450 and $74,350, corresponding to key Fibonacci retracement levels. A failure at these levels might lead the price down to $72,200.
Technical signs remain favorable, with the hourly MACD maintaining its bullish momentum, though slowing, and the RSI for BTC/USD staying above 50. Support and resistance levels are observed at $75,450, $74,350, $76,000, and $76,200.
