bullish

Bitcoin

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Momentum

<ul class="wp-block-list">
 <li>Bitcoin nears $70K resistance, showing renewed bullish momentum and buying pressure.</li>  
 <li>Technical charts and on-chain data hint at a possible short squeeze-driven rally.</li>  
 <li>A breakout above $70K could set Bitcoin up for a new all-time high.</li> 
</ul>  
<p>Bitcoin's price is charging toward the crucial $70K resistance. After finding support between $52K and $56K, buyers have regained strength. Recent price movements show renewed bullish momentum, pushing Bitcoin into a decisive moment. Will the bulls succeed in breaking past this barrier, setting up for a new all-time high? This could be the moment that defines Bitcoin’s next major move.</p>  
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<h2 class="wp-block-heading" id="h-daily-chart-analysis-bulls-building-momentum">Daily Chart Analysis: Bulls Building Momentum</h2>  
<p>On the daily chart, <a href="https://bitcoin.org/" rel="noopener noreferrer nofollow">Bitcoin</a> has rebounded strongly after bouncing off support at $52K to $56K. This range has acted as a solid base, preventing further drops and encouraging buyers to step back in. Bitcoin’s price has surged, moving above both the 100-day and 200-day moving averages. This shift marks a renewed sense of bullish momentum.</p>  
<p>As Bitcoin approaches the $70K resistance, buyers are gearing up for a breakout. A push beyond this level could spark a powerful rally, driven by a short squeeze that amplifies the uptrend. <a href="https://www.investopedia.com/top-7-technical-analysis-tools-4773275" rel="noopener noreferrer nofollow">Technical indicators</a> suggest strong potential for this bullish move.</p>  
<h2 class="wp-block-heading" id="h-short-squeeze-could-ignite-new-highs">Short Squeeze Could Ignite New Highs</h2>  
<p>The 4-hour chart shows even more pronounced bullish activity. A strong bounce near $58K led to higher highs, pushing Bitcoin to consolidate between $66K and $70K. This tightening range hints at an imminent breakout.</p>  
<p>On-chain data backs this up. Liquidity has concentrated above $70K, signaling a potential short squeeze. If Bitcoin breaks through, it could force short sellers to cover their positions, creating a rapid surge. This chain reaction may not just push <a href="https://cryptonewsland.com/btc-sets-sights-on-71k/" rel="noopener noreferrer nofollow">Bitcoin past $70K</a> but could also pave the way for a new all-time high in the near future.</p>  
<p>Current market dynamics favor a breakthrough. Bullish technical patterns and futures positioning create an environment ripe for explosive growth. If buyers succeed in clearing $70K, Bitcoin could accelerate quickly, opening doors to new record highs.</p>   
<p>The post <a href="https://cryptonewsland.com/bitcoin-nears-crucial-70k-resistance/" rel="noopener noreferrer nofollow">Bitcoin Nears Crucial $70K Resistance: Will Bulls Push for New Highs?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Bitcoin Nears Crucial $70K Resistance: Will Bulls Push for New Highs?

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