Bitcoin price started a recovery wave from $60,000. BTC is now consolidating 
gains above $70,000 and faces hurdles near the $72,000 zone. Bitcoin is 
attempting to recover but is struggling to clear hurdles. The price is trading 
above $70,000 and the 100 hourly simple moving average. There was a break 
above a bearish trend line with resistance at $69,800 on the hourly chart of 
the BTC/USD pair (data feed from Kraken). The pair might dip again if it 
trades below the $68,500 and $67,200 levels. Bitcoin Price Holds Support 
Bitcoin price managed to remain stable above the $65,000 zone. BTC started a 
recovery wave and was able to climb above the $68,500 resistance zone. The 
price surpassed the 50% Fib retracement level of the recent downward move from 
the $78,988 swing high to the $60,500 low. Besides, there was a break above a 
bearish trend line with resistance at $69,800 on the hourly chart of the 
BTC/USD pair. Bitcoin is now trading above $70,000 and the 100 hourly simple 
moving average. If the price remains stable above $70,000, it could attempt a 
fresh increase. Immediate resistance is near the $71,200 level. The first key 
resistance is near the $72,000 level or the 61.8% Fib retracement level of the 
recent downward move from the $78,988 swing high to the $60,500 low. A close 
above the $72,000 resistance might send the price further higher. In the 
stated case, the price could rise and test the $73,200 resistance. Any more 
gains might send the price toward the $74,650 level. The next barrier for the 
bulls could be $75,000 and $75,500. Another Decline In BTC? If Bitcoin fails 
to rise above the $72,000 resistance zone, it could start another decline. 
Immediate support is near the $70,000 level. The first major support is near 
the $68,500 level. The next support is now near the $67,200 zone. Any more 
losses might send the price toward the $66,000 support in the near term. The 
main support now sits at $65,000, below which BTC might struggle to recover in 
the near term. Technical indicators: Hourly MACD – The MACD is now gaining 
pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for 
BTC/USD is now above the 50 level. Major Support Levels – $68,500, followed by 
$67,200. Major Resistance Levels – $72,000 and $74,650.

Bitcoin Price Cools Above $70K, Breakout Battle Near $72K Looms

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Cryptocurrency price in MXN