Bitcoin Price Surges Back Above $73,000 Amidst Buyer Support
Bitcoin Price Analysis
Bitcoin experienced a slight dip below $70,000, but resilient buyers prevented a further decline. The hourly chart shows the timely intervention of buyers, avoiding a significant breakdown.
Key Near-Term Support
The drop below $70,000 seemed alarming, with the price reaching as low as $68,600. However, buyers managed to hold ground and push the price above the 100-hour moving average, signaling a bullish bias.
Technical Momentum
The hourly moving averages serve as a crucial indicator of Bitcoin's near-term technical momentum. Currently, the momentum is in favor of buyers as they aim to secure levels above $70,000.
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