Bitcoin crawled off the couch from $60,000, and now it’s lounging above $70,000 with 72k staring at it like a neighbor at a barbecue. Is this the breakout we’ve all been waiting for, or just another episode of “Will it hold?”
- Bitcoin’s trying to recover, but it’s tripping over the same rocks-hurdles, hurdles, and more hurdles. What’s the deal with resistance anyway?
- The price is above $70,000 and the 100-hour moving average. Great, enough numbers to pretend we know what we’re doing.
- There was a break above a bearish trend line with resistance at $69,800 on the hourly BTC/USD chart. It’s like finally getting past a bad joke-hurdle cleared, but will the punchline land?
- The pair might dip again if it trades below $68,500 and $67,200. And if that happens, do we blame the weather or the coffee?
Bitcoin Price Holds Support
Bitcoin held above $65,000, staged a little recovery and climbed above $68,500. It’s like it woke up and said, “Okay, I’ll go for a jog, but only if the path is clear.”
The price surpassed the 50% Fib retracement of the move from $78,988 down to $60,500. There was also a break above that bearish line with resistance at $69,800 on the hourly chart.
Now BTC is above $70,000 and the 100-hour moving average. If it stays above $70k, maybe it’ll attempt a fresh leg up. Resistance first shows up around $71,200. The real wall is at $72,000 or the 61.8% fib level of the move from $78,988 to $60,500.
A close above the $72,000 zone might send it higher-the mind screams “test $73,200,” and then “could we reach $74,650?” The bulls’ next big impedance could be $75,000 and $75,500. Fun times.
Another Decline In BTC?
If Bitcoin can’t get past the $72,000 resistance, it could dip again. Immediate support is near $70,000. The first major guard is at $68,500.
The next line in the sand sits around $67,200. If it breaks, we’re probably looking at $66,000. The big safety net is $65,000; below that, recovery could be a long walk home.
Technical indicators:
Hourly MACD – The MACD is creeping toward the bearish side.
Hourly RSI – RSI is perched above the 50 level.
Major Support Levels – $68,500, then $67,200.
Major Resistance Levels – $72,000 and $74,650.
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2026-02-09 05:56