NewsBTC
Feb 9, 2026
2 0

BULLISH 📈 : Bitcoin Holds Above $70K, Eyes Breakout at $72K

Bitcoin Price Update

  • Bitcoin is recovering from $60,000, now consolidating gains above $70,000.
  • Price trades above the 100 hourly simple moving average.
  • Broke above a bearish trend line at $69,800 on BTC/USD hourly chart (Kraken data).
  • Potential dip if the price falls below $68,500 and $67,200.

Support and Resistance Levels

Bitcoin maintains stability above $65,000, climbing past the $68,500 resistance. It surpassed the 50% Fib retracement level from $78,988 high to $60,500 low.

  • Resistance near $71,200 and key at $72,000 (61.8% Fib level).
  • Possible rise to $73,200 if closing above $72,000.
  • Further gains could target $74,650, with next barriers at $75,000 and $75,500.

Bitcoin Price

Potential Decline

  • If unable to exceed $72,000, BTC may decline.
  • Immediate support at $70,000; major support at $68,500.
  • Additional support levels at $67,200 and $66,000.
  • Main support sits at $65,000, crucial for recovery prospects.

Technical Indicators:

  • Hourly MACD: Increasing pace in bearish zone.
  • Hourly RSI: Above 50 level.
  • Major Support Levels: $68,500, $67,200.
  • Major Resistance Levels: $72,000, $74,650.