{"id":16510,"date":"2024-10-30T03:22:48","date_gmt":"2024-10-30T03:22:48","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=16510"},"modified":"2024-10-30T03:22:48","modified_gmt":"2024-10-30T03:22:48","slug":"bitcoin-price-nears-all-time-high-can-it-push-past-the-mark","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=16510","title":{"rendered":"Bitcoin Price Nears All-Time High: Can It Push Past the Mark?"},"content":{"rendered":"

Bitcoin price is rallying above the $72,000 zone. BTC is up over 5% and it could soon aim for a new all-time high above $73,500.<\/em><\/p>\n

Bitcoin started a fresh increase above the $70,000 zone.
\nThe price is trading above $70,500 and the 100 hourly Simple moving average.
\nThere is a connecting bullish trend line forming with support at $69,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair is surging and might rise above the $73,500 resistance zone or even to a new all-time high.<\/p>\n

Bitcoin Price Remains In Uptrend<\/h2>\n

Bitcoin price remained strong above the $70,000 zone<\/a>. BTC formed a base and started a fresh increase above the $71,200 resistance. The bulls were able to pump the price above the $72,000 resistance.<\/p>\n

The price regained strength and cleared the $72,500 level. It is up over 5% and trading above the $72,000 level. A high was formed at $73,574 and the price is now consolidating gains. It is just above the 23.6% Fib retracement level of the upward move from the $65,530 swing low to the $73,574 high.<\/p>\n

Bitcoin price is now trading above $72,000 and the 100 hourly Simple moving average<\/a>. On the upside, the price could face resistance near the $73,200 level.<\/p>\n

<\/a><\/p>\n

The first key resistance is near the $73,550 level. A clear move above the $73,550 resistance might send the price higher. The next key resistance could be $74,200. A close above the $74,200 resistance might initiate more gains. In the stated case, the price could rise and test the $75,000 resistance level. Any more gains might send the price toward the $75,800 resistance level. Any more gains might call for a test of $76,500.<\/p>\n

Are Dips Limited In BTC?<\/h2>\n

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 $71,650 level.<\/p>\n

The first major support is near the $69,500 level or the 50% Fib retracement level of the upward move from the $65,530 swing low to the $73,574 high. The next support is now near the $68,500 zone. Any more losses might send the price toward the $67,200 support in the near term.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n

Major Support Levels \u2013 $71,650, followed by $69,500.<\/p>\n

Major Resistance Levels \u2013 $73,500, and $75,000.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price is rallying above the $72,000 zone. BTC is up over 5% and it could soon aim for a new all-time high above $73,500. Bitcoin started a fresh increase above the $70,000 zone. The price is trading above $70,500 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming […]<\/p>\n","protected":false},"author":0,"featured_media":16511,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-16510","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/16510"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16510"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/16510\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/16511"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16510"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16510"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16510"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}