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Giấy phép số 4978/GP-TTĐT do Sở Thông tin và Truyền thông Hà Nội cấp ngày 14 tháng 10 năm 2019 / Giấy phép SĐ, BS GP ICP số 2107/GP-TTĐT do Sở TTTT Hà Nội cấp ngày 13/7/2022.
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Bitcoin started a strong increase above the $70,000 zone, consolidating its gains as it looks for further upside. The BTC/USD pair is trading above $70,000 and the 100 hourly simple moving average, after breaking above a key declining channel.
BTC gained momentum for a move above the $69,500 and $70,500 levels. The pair broke above resistance at $68,800 on the hourly chart and subsequently rallied above $72,000. A high was formed at $72,728 before the price began a downside correction.
During the correction, BTC moved below the 23.6% Fibonacci retracement level of the upward move from the $67,734 swing low to the $72,728 high. The market is now back above $70,500, with the next attempt higher dependent on holding current support levels.
If BTC remains stable above $70,500, it could attempt a fresh increase. Immediate resistance is near $72,000, followed by $72,750. A close above $72,750 could push the price higher toward $73,500, with further gains potentially targeting $74,000 and then $75,000.
If Bitcoin fails to rise above the $72,750 resistance zone, it could start another decline. Immediate support is near $70,800, followed by $70,250 (also aligned with the 50% Fibonacci retracement level of the move from $67,734 to $72,728). Further losses could send BTC toward the $69,500 zone and then $68,800. The main support is at $67,500, below which recovery may be harder in the near term.

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