NewsBTC
Mar 5, 2026
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BULLISH 📈 : Bitcoin price rallies above $70,000 aiming for further gains

Bitcoin Price Analysis

  • Bitcoin is trading above $70,000 and has surpassed the $68,800 resistance. It is holding steady above the 100 hourly simple moving average.
  • A bullish trend line with support at $68,000 is forming on the BTC/USD hourly chart.
  • The price reached a high of $74,062 but saw a correction to just below $73,000.
  • If Bitcoin maintains stability above $70,000, it could target further gains. Immediate resistance lies at $72,800, followed by key resistance at $73,500.
  • A close above $73,500 could see the price testing $74,000, with potential to reach $75,000 and higher barriers at $76,800 and $77,200.

Bitcoin Price

Potential Downside

  • If Bitcoin does not overcome the $72,800 resistance, it may decline. Immediate support is at $72,200, with major support at $72,000.
  • Further losses could push the price towards the $68,800 and $68,000 support levels.

Technical Indicators

  • Hourly MACD: Losing pace in the bullish zone.
  • Hourly RSI: Above the 50 level for BTC/USD.
  • Major Support Levels: $72,000 and $70,000.
  • Major Resistance Levels: $72,800 and $73,500.