Bitcoin Price Climbs Again — Bulls Aim for New Monthly High
Bitcoin price started a steady increase above the $72,000 zone. BTC is now consolidating and might aim for more gains if it clears $73,000. A close above the $73,000 resistance might send the price further higher. In the stated case, the price could rise and test the $73,800 resistance. Any more gains might send the price toward the $74,000 level. The next barrier for the bulls could be $75,000. If Bitcoin fails to rise above the $73,000 resistance zone, it could start another decline. Immediate support is near the $72,000 level. The first major support is near the $71,500 level or the trend line zone. The next support is now near the $71,200 zone. Any more losses might send the price toward the $70,350 support in the near term. The main support now sits at $70,000, below which BTC might struggle to recover in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $72,000, followed by $71,500. Major Resistance Levels – $73,000 and $74,000.Another Decline In BTC?
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