Bitcoin is correcting from a low of $67,500, with aims to exceed the $70,000 resistance. Previously, BTC fell from $72,500, breaching support levels. It now has broken a bearish trend line, indicating potential bullish momentum. Resistance is expected around $69,500.
Currently, the price is below $70,000 and the 100 hourly simple moving average. Surpassing $70,000 might lead to a test of $71,200 and possibly further gains to $72,500. If Bitcoin succeeds here, $73,200 could be the next target.
Should Bitcoin fail to rise above $70,000, further declines are possible. Immediate support lies at $68,000, with $67,500 and $67,200 as additional safety nets. Key technical indicators show a stabilizing RSI and a decelerating bearish MACD.
