Bitcoin

Resistance

Verge

Bitcoin price is eyeing more gains above the $73,000 resistance. BTC is setting up for a move toward the $75,000 resistance in the near term. 
<ul> 
 <li>Bitcoin price is showing positive signs and eyeing more gains above the $73,000 zone.</li> 
 <li>The price is trading above $72,500 and the 100 hourly Simple moving average.</li> 
 <li>There is a connecting bullish trend line forming with support at $72,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).</li> 
 <li>The pair could continue to move up if it clears the $73,450 and $73,500 resistance levels.</li> 
</ul> 
<h2 id="bitcoin-price-sets-new-ath">Bitcoin Price Sets New ATH</h2> 
Bitcoin price remained well-bid above the $72,000 level. BTC formed a base and started a <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-faces-big-move-75k/" target="_blank" rel="noopener ">fresh increase</a> above the $72,500 resistance. The price even broke the $73,000 level. 
It traded to a new all-time high above $73,500 before there was a downside correction. The price declined below the $73,000 and $72,500 levels. A low was formed near $71,725 and the price is again rising. There was a move above the $73,000 level. 
Bitcoin is now trading above $72,500 and the <a href="https://www.newsbtc.com/analysis/eth/bitcoin-price-resumes-rally-75k/" target="_blank" rel="noopener ">100 hourly Simple moving average</a>. It is holding gains above the 50% Fib retracement level of the upward move from the $71,725 swing low to the $73,485 high. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/03/Bitcoin_f51e77.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-597783" src="https://www.newsbtc.com/wp-content/uploads/2024/03/Bitcoin_f51e77.png?resize=1024%2C461" alt="Bitcoin Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/03/Bitcoin_f51e77.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/03/Bitcoin_f51e77.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/03/Bitcoin_f51e77.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/03/Bitcoin_f51e77.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/03/Bitcoin_f51e77.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/03/Bitcoin_f51e77.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/03/Bitcoin_f51e77.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/BTCUSD/" target="_blank" rel="noopener nofollow">BTCUSD on TradingView.com</a> 
Immediate resistance is near the $73,200 level. The next key resistance could be $73,500, above which the price could rise toward the $74,200 resistance zone. If there is a clear move above the $74,200 resistance zone, the price could even attempt a move above the $75,000 resistance zone. Any more gains might send the price toward the $76,500 level. 
<h2 id="another-downside-correction-in-btc">Another Downside Correction In BTC?</h2> 
If Bitcoin fails to rise above the $73,500 resistance zone, it could start a downside correction. Immediate support on the downside is near the $72,800 level and the trend line. 
The first major support is $72,150 or 76.4% Fib retracement level of the upward move from the $71,725 swing low to the $73,485 high. If there is a close below $72,150, the price could start a decent pullback toward the $70,000 level. Any more losses might send the price toward the $68,500 support zone. 
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 – $72,800, followed by $72,150. 
Major Resistance Levels – $73,200, $73,500, and $75,000.

Bitcoin Price Might Be On The Verge To Surge Toward $75K

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