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Bitcoin regains $72,000 as rally targets $75,500 resistance
The move added more than 20% in two days, with key support cited near $72,500 and potential lower tests toward $70,500 if BTC slips.
Bitcoin formed a base above $62,000 and accelerated higher against the US dollar, settling above $72,000 along with the 100 and 200 simple moving averages on the 4-hour chart, according to Action Forex.
The price gained over 20% in two days and tested $75,500 resistance, with a reported high at $75,716. The article said BTC is currently consolidating after that test.
On the downside, Action Forex cited potential bids near $73,500 and said the first major support could be $72,500. A downside break and close below $72,500 could open the door to a sharp decline, with targets including $70,500 or even $70,000.
For upside, the piece highlighted $75,500 as immediate resistance, with additional levels at $76,200 and $76,800. A close above $76,800 could send bitcoin toward $78,500, with further gains potentially testing $80,000.
Latest closeBitcoin $81,906.63 ▼1.4%