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Bitcoin price faced renewed selling pressure near $75,000 after another failed breakout attempt. The asset reached $76,100 on Tuesday but closed below resistance. Despite the pullback, technical indicators still suggest there may be room for further upside.
Bitcoin (BTC) climbed to $76,100 on Tuesday, its highest level since early February. However, sellers pushed the price down before the daily close. The asset ended the session at $74,164 after failing to hold above $75,000.
Earlier this month, Bitcoin rebounded from $65,692 and gained 15.8% to reach the recent peak. Since then, it has retained about 8.45% of that advance. On March 17, Bitcoin also touched $76,000 but fell back to $73,920 after encountering strong supply.
The repeated rejection at $75,000 reinforces the level as firm resistance. Sellers continue to defend the zone, limiting upward movement. At the time of writing, Bitcoin trades at $74,036.
The price also encountered the 100-day simple moving average near the resistance zone. This moving average is at $94,935, adding technical pressure. As a result, bulls were unable to secure a daily close above the barrier.
Failure to break resistance increases the risk of a decline toward $68,000 and $65,000. The 50-day moving average at $69,680 could provide support if the price drops. Market structure remains dependent on holding key levels.
Bitcoin continues to hold the $72,000 micro support level identified by analyst Michael van de Poppe. He said, “Holding $72,000 opens the path toward a new breakout.” The level is now acting as a short-term foundation.
Van de Poppe projected a move toward $80,000 to $85,000 if Bitcoin closes above $75,000 with strong volume. He added that the move could occur before the end of April. Such a rally would return Bitcoin to levels last seen in late January.
A decisive close above $75,000 is needed to confirm renewed upward momentum. Until then, the price is expected to remain within a defined range, with current data showing Bitcoin trading at $74,036.
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