CandleFocus Bitcoin Price Pushes Rally Further: Bulls in Full Force
2024-11-07
Author: Content Editor
The Bitcoin price has surpassed the $74,000 level and is currently in a bullish zone. It recently reached a new all-time high at $76,457 and is now consolidating its gains. The price is trading above the $73,500 level and the 100-hourly Simple Moving Average. There is a bullish trend line forming with support at $75,250. If the price manages to clear the $76,000 resistance, it could continue to rise and test the $78,000 and $78,800 resistance levels. However, if it fails to do so, it may face downside pressure, with immediate support at $75,250 and the trend line. Additional support levels are near $74,150 and $73,500. The technical indicators are showing positive signs, with the MACD gaining pace in the bullish zone and the RSI above the 50 level.
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