TLDR
- Bitcoin climbed to $76,100 but failed to close above the $75,000 resistance level.
- The asset ended the session at $74,164 after sellers defended the key supply zone.
- Bitcoin rebounded 15.8% from $65,692 earlier this month before pulling back.
- The $72,000 level continues to act as short-term support for the current range.
- The 50-day moving average at $69,680 could provide support if the price declines.
Bitcoin price faced renewed selling pressure near $75,000 after another failed breakout attempt. The asset reached $76,100 on Tuesday but closed below resistance. Despite the pullback, technical indicators still show room for further upside.
Bitcoin Price Tests $75,000 Resistance Again
Bitcoin (BTC) climbed to $76,100 on Tuesday, marking its highest level since early February. However, sellers pushed the price down before the daily close. The asset ended the session at $74,164 after failing to hold above $75,000.
Earlier this month, Bitcoin rebounded from $65,692 and gained 15.8% to reach the recent peak. It has since retained about 8.45% of that advance. On March 17, Bitcoin also touched $76,000 but fell back to $73,920 after facing strong supply.
The repeated rejection at $75,000 confirms the level as firm resistance. Sellers continue to defend the zone, which limits upward movement. Bitcoin trades at $74,036 at the time of writing.
The price also encountered the 100-day simple moving average near the resistance zone. This moving average stands at $94,935 and adds technical pressure. As a result, bulls failed to secure a daily close above the barrier.
Failure to break resistance increases the risk of a decline toward $68,000 and $65,000. The 50-day moving average at $69,680 could provide support if the price drops. Market structure remains dependent on holding key levels.
Bitcoin Price Holds $72,000 Support as Indicators Stay Positive
Bitcoin price continues to hold the $72,000 micro support level identified by analyst Michael van de Poppe. He stated, “Holding $72,000 opens the path toward a new breakout.” The level now acts as a short-term foundation.
Van de Poppe projected a move toward $80,000 to $85,000 if Bitcoin closes above $75,000 with strong volume. He said the move could occur before the end of April. Such a rally would return Bitcoin to levels last seen in late January.
The daily Relative Strength Index stands at 60.74, which signals room before overbought conditions above 75. The reading reflects steady momentum without extreme conditions. Buyers still maintain control under current levels.
The Moving Average Convergence Divergence also supports bullish momentum. The MACD line reads 1,201.91 and remains above the signal line at 590.84. Green histogram bars continue to expand on the daily chart.
Bitcoin must secure a decisive close above $75,000 to confirm renewed upward momentum. Until then, the price remains within a defined range. Current data shows Bitcoin trading at $74,036.
