Bitcoin price started a steady increase above $70,000 and $72,000. BTC is now consolidating and might aim for more gains above $72,800.

• Bitcoin started a fresh increase after it settled above the $68,800 support.
• The price is trading above $70,000 and the 100 hourly simple moving average.
• There is a bullish trend line forming with support at $68,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair might dip again if it trades below the $72,000 and $70,800 levels.

Bitcoin Price Rallies Above $70,000

Bitcoin price managed to form a base above the $67,500 zone. BTC started a fresh increase and was able to surpass the $68,800 resistance zone.

The price even rallied above the $70,000 resistance. Finally, the bears appeared near $74,000. A high was formed at $74,062, and the price recently corrected some gains. There was a move below $73,000, and the price declined toward the 23.6% Fib retracement level of the upward move from the $66,164 swing low to the $74,062 high.

Bitcoin is now trading above $70,000 and the 100 hourly simple moving average. There is also a bullish trend line forming with support at $68,000 on the hourly chart of the BTC/USD pair.

If the price remains stable above $70,000, it could attempt a fresh increase. Immediate resistance is near the $72,800 level. The first key resistance is near the $73,500 level. A close above the $73,500 resistance might send the price further higher. In the stated case, the price could rise and test the $74,000 resistance. Any more gains might send the price toward the $75,000 level. The next barrier for the bulls could be $76,800 and $77,200.

Downside Correction In BTC?

If Bitcoin fails to rise above the $72,800 resistance zone, it could start another decline. Immediate support is near the $72,200 level. The first major support is near the $72,000 level.

The next support is now near the $70,000 zone or the 50% Fib retracement level of the upward move from the $66,164 swing low to the $74,062 high. Any more losses might send the price toward the $68,800 support in the near term. The main support now sits at $68,000, below which BTC might struggle to recover in the near term.

Technical indicators:

Hourly MACD – The MACD is now losing 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 $70,000.

Major Resistance Levels – $72,800 and $73,500.

Bitcoin price started a decent increase above $68,000. BTC is now consolidating above $66,250 and might aim for more gains above $68,800.

• Bitcoin started a fresh increase after it settled above the $67,200 support.
• The price is trading above $67,200 and the 100 hourly simple moving average.
• There is a new bearish trend line forming with resistance at $68,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair might dip again if it trades below the $66,500 and $66,250 levels.

Bitcoin Price Dips To Support

Bitcoin price managed to form a base above the $66,500 zone. BTC started a fresh increase and was able to surpass the $68,000 resistance zone.

The price even rallied above the $68,800 resistance. Finally, the bears appeared near $70,000. A high was formed at $70,000, and the price recently corrected some gains. There was a move below the 38.2% Fib retracement level of the upward move from the $62,500 swing low to the $70,000 high.

Bitcoin is now trading above $67,000 and the 100 hourly simple moving average. If the price remains stable above $67,000, it could attempt a fresh increase. Immediate resistance is near the $68,000 level. There is also a new bearish trend line forming with resistance at $68,000 on the hourly chart of the BTC/USD pair.

The first key resistance is near the $68,250 level. A close above the $68,250 resistance might send the price further higher. In the stated case, the price could rise and test the $69,500 resistance. Any more gains might send the price toward the $70,000 level. The next barrier for the bulls could be $70,500 and $71,200.

Downside Continuation In BTC?

If Bitcoin fails to rise above the $68,000 resistance zone, it could start another decline. Immediate support is near the $67,000 level. The first major support is near the $66,250 level or the 50% Fib retracement level of the upward move from the $62,500 swing low to the $70,000 high.

The next support is now near the $65,500 zone. Any more losses might send the price toward the $65,000 support in the near term. The main support now sits at $63,500, below which BTC might struggle to recover in the near term.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $67,000, followed by $66,500.

Major Resistance Levels – $68,000 and $68,500.

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Ethereum price found support near $1,922 and recovered some losses. ETH is now consolidating and faces key hurdles near $2,000.

• Ethereum is attempting a fresh recovery wave above $1,960.
• The price is trading below $1,985 and the 100-hourly Simple Moving Average.
• There is a bearish trend line forming with resistance at $2,000 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could start a fresh decline if it stays below the $2,000 zone.

Ethereum Price Revisits Support

Ethereum price failed to stay above $2,000 and started a fresh decline, like Bitcoin. ETH price traded below the $1,960 and $1,950 levels to enter a bearish zone.

Finally, the bulls appeared near $1,920. A low was formed at $1,922, and the price started a recovery wave. There was a move above the $1,950 resistance. The price surpassed the 38.2% Fib retracement level of the downward move from the $2,038 swing high to the $1,922 low.

Ethereum price is now trading below $1,980 and the 100-hourly Simple Moving Average. If the bulls remain in action above $1,925, the price could attempt another increase. Immediate resistance is seen near the $1,980 level. The first key resistance is near the $2,000 level or the 61.8% Fib retracement level of the downward move from the $2,038 swing high to the $1,922 low.

There is also a bearish trend line forming with resistance at $2,000 on the hourly chart of ETH/USD. The next major resistance is near the $2,020 level. A clear move above the $2,020 resistance might send the price toward the $2,050 resistance. An upside break above the $2,050 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $2,120 resistance zone or even $2,150 in the near term.

Another Decline In ETH?

If Ethereum fails to clear the $2,000 resistance, it could start a fresh decline. Initial support on the downside is near the $1,935 level. The first major support sits near the $1,925 zone.

A clear move below the $1,925 support might push the price toward the $1,880 support. Any more losses might send the price toward the $1,840 region. The main support could be $1,820.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now near the 50 zone.

Major Support Level – $1,920

Major Resistance Level – $2,000