{"id":961,"date":"2024-10-29T06:00:21","date_gmt":"2024-10-29T06:00:21","guid":{"rendered":"https:\/\/ad-doge.com\/blog\/bitcoin-price-rallies-above-70k-is-a-new-high-within-reach\/"},"modified":"2024-10-29T06:00:21","modified_gmt":"2024-10-29T06:00:21","slug":"bitcoin-price-rallies-above-70k-is-a-new-high-within-reach","status":"publish","type":"post","link":"https:\/\/ad-doge.com\/blog\/bitcoin-price-rallies-above-70k-is-a-new-high-within-reach\/","title":{"rendered":"Bitcoin Price Rallies Above $70K: Is a New High Within Reach?"},"content":{"rendered":"<p><em>Bitcoin price is rallying above the $70,000 zone. BTC is up over 5% and it could soon aim for a move above the $72,000 resistance zone.<\/em><\/p>\n<ul>\n<li>Bitcoin started a fresh increase above the $68,000 zone.<\/li>\n<li>The price is trading above $70,000 and the 100 hourly Simple moving average.<\/li>\n<li>There is a connecting bullish trend line forming with support at $68,700 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair is surging and might rise above the $72,000 resistance zone or even to a new all-time high.<\/li>\n<\/ul>\n<h2>Bitcoin Price Starts Fresh Surge<\/h2>\n<p>Bitcoin price found support near the $66,500 zone. BTC formed a base and started a fresh increase above the $68,000 resistance. The bulls were able to pump the price above the $70,000 resistance.<\/p>\n<p>The price regained strength and cleared the $70,500 level. It is up over 5% and trading above the $71,000 level. A high was formed at $71,482 and the price is now showing signs of strength. It is well above the 23.6% Fib retracement level of the upward move from the $65,531 swing low to the $71,482 high.<\/p>\n<p>Bitcoin price is now trading above $70,000 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $71,500 level.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"wp-image-650435 size-full\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/10\/Bitcoin_cc7a06.png?resize=1024%2C478\" alt=\"Bitcoin Price\" width=\"1024\" height=\"478\" \/><\/p>\n<p>The first key resistance is near the $72,000 level. A clear move above the $72,000 resistance might send the price higher. The next key resistance could be $72,200. A close above the $72,200 resistance might initiate more gains. In the stated case, the price could rise and test the $73,000 resistance level. Any more gains might send the price toward the $74,000 resistance level and a new all-time high. Any more gains might call for a test of $75,000.<\/p>\n<h2>Are Dips Supported In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $72,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $70,500 level.<\/p>\n<p>The first major support is near the $68,500 level or the 50% Fib retracement level of the upward move from the $65,531 swing low to the $71,482 high. The next support is now near the $67,800 zone. Any more losses might send the price toward the $66,500 support in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $70,500, followed by $68,500.<\/p>\n<p>Major Resistance Levels \u2013 $71,500, and $72,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is rallying above the $70,000 zone. BTC is up over 5% and it could soon aim for a move above the $72,000 resistance zone. Bitcoin started a fresh increase above the $68,000 zone. The price is trading above $70,000 and the 100 hourly Simple moving average. There is a connecting bullish trend line&hellip;<\/p>\n","protected":false},"author":1,"featured_media":962,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[142],"tags":[22,29,32,35,36,154],"class_list":["post-961","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-btc","tag-bitcoin","tag-bitcoin-price","tag-btc","tag-btcusd","tag-btcusdt","tag-xbtusd"],"_links":{"self":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/961","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/comments?post=961"}],"version-history":[{"count":0,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/961\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media\/962"}],"wp:attachment":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media?parent=961"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/categories?post=961"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/tags?post=961"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}