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- Today's Chart: Bitcoin Price Rises as Bulls Tighten Their Grip:
Bitcoin hovers above $68,000, with buyers pushing to break the upper resistance zone at $72,271, which corresponds to the highest level recorded on February 8. The SuperTrend indicator has fallen below the spot market price, reinforcing the bullish trend. Meanwhile, momentum appears stable, supported by the Moving Average Convergence Divergence (MACD), which remains above the daily signal line. The decreasing green bars on the chart indicate caution amid moderate expectations.
The Relative Strength Index (RSI) is recovering toward the neutral line on the same chart, suggesting that bearish momentum is waning ahead of a potential bullish reversal.
The level of $65,971, the daily opening price, provides immediate support. A break below this level could open the door to a decline toward the SuperTrend indicator at $61,116. On the upside, initial resistance is at the key $70,000 level, followed by the upper edge of the range around $72,271. A sustained breakout above this zone is required to test the 50-day Exponential Moving Average (EMA) at $73,280.
Daily chart of the BTC/USDT pair