Bitcoin price today hit another record. BTC reached $73,777, setting an all-time high. The critical question now is which levels should be monitored for Bitcoin in the next stages. We are now in a period where levels above $80,000 are being mentioned. There is currently no reason for it not to happen. However, attention should also be paid to the levels I will mention below.
Bitcoin Sets New Record Against the Dollar
Bitcoin price has set a new record against the dollar at $73,777. Bitcoin is now preparing for a move towards the $75,000 resistance in the near future.
Bitcoin price is showing positive signs and is focused on gaining more above the $73,000 level. The price is trading above the $72,500 level and the 100-hour Simple Moving Average.
BTC/USD pair’s hourly chart shows an ascending trend line with support at the $72,800 level. If the pair surpasses the resistance levels of $73,450 and $73,500, it can continue its upward movement.
What is Bitcoin’s Value in Turkish Lira?
Bitcoin also reached a new record against the Turkish Lira today. BTC hit 2,401,021 TL. We continue to base our evaluation on the dollar. After forming a base above the $72,000 level, Bitcoin price started a new increase above the $72,500 resistance.
The price surpassed the $73,000 level and even traded above $73,500, setting the all-time high at $73,777. The price then retreated below the $73,000 and $72,500 levels but rose again and is currently trading above the $73,000 level.
The cryptocurrency Bitcoin is currently trading above the $72,500 level and the 100-hour Simple Moving Average. Gains are holding above the 50% Fib retracement level of the upward move from the $71,725 low to $73,485.
The immediate resistance level is at $73,200. The next significant resistance level could be $73,500, and if the price surpasses this level, it could rise towards the $74,200 resistance zone. A clear break above the $74,200 resistance zone could attempt to surpass the $75,000 resistance zone. Further gains could push the price towards the $76,500 level.
Is Another Downward Correction Possible for Bitcoin?
Bitcoin may initiate a downward correction if it fails to break above the $73,500 resistance zone. The critical support level on the downside is $72,800. A descent below this level could lead to the next support level at $72,150.
If there is a close below $72,150, the price could start a correction towards the $70,000 level. Further losses could push the price towards the $68,500 support zone.
