LIVEBitcoin Approaches $72,000 🚀🌑
Bitcoin ($BTC ) sought higher levels during Wall Street's final open of the week, while bulls remained resilient amid market jitters.
BTC Price Hits Resistance Level Again Data from Cointelegraph Markets Pro and TradingView followed BTC's renewed price action as it surpassed $71,000.
Sudden volatility characterized the previous day due to an ongoing legal battle between US exchange Coinbase and regulator the Securities and Exchange Commission (SEC), pushing Bitcoin below key support at $69,000. However, the weakness did not last long as buyers stepped in to fuel a continued attempt to capture liquidity near all-time highs. During the day, prominent trader Skew warned that price action could result from manipulative liquidity moves.
This included new support in the $70,200 to $70,600 range, all of which was subsequently removed from Binance's order book. With the all-time highs still acting as a clear ceiling for the price, trader Daan Crypto Trades also considered where price discovery could take Bitcoin if the sellers were overtaken.
"Break the all-time high and the low $80,000s should follow soon after, I think," he summed up his followers on X (formerly Twitter).
An accompanying chart showed short-term trendline support in the form of 200-period simple and exponential moving averages on 4-hour time frames.
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