Bitcoin price shows strength: predicted to rise to $73,000

There are advantages to Bitcoin in technical analysis, and indicators such as Bollinger Bands, which indicate bullish moments are emphasized. There is a possibility that the fluctuating behavior of virtual currency on the 4-hour sheet probably indicates a sloping movement. To understand the importance of Bitcoin surpassing the 50-day EMA of $61,999, it is necessary to understand that this has historically been a sign of continued and fluctuating bullish markets.

Trend reversals in the current market environment are difficult to predict, and the importance of resistance and support in determining price movements is becoming increasingly clear. Bitcoin is $66,796 and $69,328First stage failureI'm facing it. If it rises normally above these values, there is a possibility that it will escalate below that, which may cause the onset of the disease. Apart from that, before Bitcoin hits an all-time high again,$71,180 resistance lineIt exists. According to analysts, Bitcoin will only be able to cope if it rises above $67,500.

If the Bitcoin trend is supported and a sharp decline is prevented, the resistance level could reach a maximum of $61,735. The next resistance levels are specified at $59,550 and $56,625, levels that will help the price regain ground if the trend falls.

Market experts are closely watching the rise in the price of Bitcoin, and if it can break through a specific resistance line, there is a possibility that 73,000 dollars will become a new high. Bitcoin's recovery after a short period of adjustments pushed back the crypto asset market but caused excitement among traders.

The majority of analysts argue that Bitcoin needs to gradually break through the $67,500 level again, so such a breakthrough could provide a more aggressive push. Technical analysts have advised that not rising above this level is dangerous and may lead to a retest of support levels set so far.