Bitcoin Reclaims the $70,000 Dollar Level

The cryptocurrency with the highest market value, Bitcoin, has risen to $70,230 today by breaking the $70,000 dollar level. This increase is being associated with the halving event expected to take place in April, among the speculations made. Investors are eagerly awaiting the possible positive effects of this event on Bitcoin. 70,000 Dollar Resistance and Technical Indicators Bitcoin, rising by 2.4% in the last 24 hours, is trading just below $70,000, a level that has been an important resistance point that bears have failed to surpass multiple times. The leading cryptocurrency is trading at $69,704 after losing part of its gains. Analyst Ali Martinez points out the TD Sequential indicator, which gives a sales signal for Bitcoin in the four-hour chart and predicts a short-term correction. Bitcoin Sensitivity and Halving Effect After the sharp drop following the unsuccessful rise to $70,000 on April 1st, Bitcoin managed to recover. The Fear […]

Bitcoin Reclaims the $70,000 Dollar Level

The cryptocurrency with the highest market value, Bitcoin, has risen to $70,230 today by breaking the $70,000 dollar level. This increase is being associated with the halving event expected to take place in April, among the speculations made. Investors are eagerly awaiting the possible positive effects of this event on Bitcoin.

70,000 Dollar Resistance and Technical Indicators

Bitcoin, rising by 2.4% in the last 24 hours, is trading just below $70,000, a level that has been an important resistance point that bears have failed to surpass multiple times. The leading cryptocurrency is trading at $69,704 after losing part of its gains. Analyst Ali Martinez points out the TD Sequential indicator, which gives a sales signal for Bitcoin in the four-hour chart and predicts a short-term correction.

Bitcoin Sensitivity and Halving Effect

After the sharp drop following the unsuccessful rise to $70,000 on April 1st, Bitcoin managed to recover. The Fear and Greed Index, which measures sensitivity in the crypto market, indicates an “extreme greed” situation for Bitcoin. This extreme sensitivity in the market could bring about short-term corrections and the concept of “buying the dip.”

Useful Information for the Reader

The breaking of the $70,000 dollar resistance level for Bitcoin may be a possible price increase signal.
The TD Sequential indicator gives a short-term sales signal for Bitcoin, indicating a possible correction in the near future.
The upcoming halving event may have a positive effect on prices and increase investor interest.

Finally, with the approaching halving event, it is expected that the increasing interest of the mainstream media will further increase market excitement. This situation can play an important role in Bitcoin’s price movements.

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