Bitcoin Starts Fresh Rally, Why BTC Could Breach $70K This Time – NewsBTC

Bitcoin price remained well bid above the $60,000 support zone.

The bulls even pumped the price above the $65,000 level and the 100 hourly simple moving average.

Bitcoin is trading well above the 23.6% Fib retracement level of the upward move from the $60,129 swing low to $65,681 high.

A clear break above $66,000 resistance may possibly call open the doors for a fresh rally.

If bitcoin fails to clear the $66,000 resistance zone, it could start a fresh downside correction.

It is near the 50% Fib retracement level of the upward move from the $60,129 swing low to $65,681 high.

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NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins.

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