Back Above $70K, Bitcoin Eyes A Breakout Run To Cross $75K!
The post Back Above $70K, Bitcoin Eyes A Breakout Run To Cross $75K! appeared first on Coinpedia Fintech News
Starting a new bullish week this Monday, Bitcoin buyers continue to pick up the additional trend momentum. Bouncing from under $65K, the morning star-led uptrend finally crosses the $70K barrier.
With a streak of three bullish candles, the 5% jump on Sunday followed by an additional 4% hike on Monday, the BTC price is going uphill. Facing minimal resistance, thanks to the surge in buying pressure, Bitcoin continues the uptrend with today’s intraday jump of 1.02%.
Further, the 49% rise in intraday trading volume bolsters the buying spree. Therefore, with the growing bullish sentiments and the coming Bitcoin halving this April 19th, the upside moves are unsurprising for many.
With the uptrend crossing the $70K mark, can we witness the BTC price reaching $100,000 before halving? Read out Bitcoin Price Prediction for a more detailed analysis.
Will Bitcoin Cross $100,000?Currently trading at $70,550, the price of a single Bitcoin has increased by more than 10% in the past 72 hours. With this revival, the buyers ended last week on a bullish note, and the momentum continues to rise this week.
As mentioned in our last few articles, the daily chart shows the retest of the $65K zone as a potential entry spot. With a successful post-retest reversal, the Bitcoin price rally will challenge the $73K peak. The MACD indicator shows a potential bullish crossover with this recovery in motion.
Further, with the recent recovery rally, the short-liquidations in Bitcoin surpass the $100M mark per coinglass.
Analyzing the recent trend move, the BTC price could reach the $96K mark per the trend-based Fibonacci level. However, a conservative approach highlights the $75K psychological mark as the next target.
Conversely, a reversal from the $73K could birth a consolidation range between $73K and $65K.
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Long-term Hodlers Channelize Shifting DynamicsOn Sunday alone, wallets holding between 10-10K $BTC accumulated almost 52,000 collective #Bitcoin. This large sum of Bitcoin accounts for more than a quarter percent of the entire currently available supply accumulated in one day.
