Bitcoin Price Regains $68K: Can Bulls Push to $70K Next?

Bitcoin price has surged above the $68,000 resistance level and bulls are showing signs of strength. There is a possibility that they might aim for a push towards the $70,000 level. Bitcoin started a fresh upward move above the $66,500 resistance zone and is currently trading above $66,500 and the 100 hourly Simple Moving Average. On the hourly chart of the BTC/USD pair, a connecting bullish trend line is forming with support at $66,500. The pair may continue its upward momentum and surpass the $68,800 resistance zone. If this happens, it could lead to another increase in the coming sessions, with the next key resistance levels at $69,500 and $70,000. However, if Bitcoin fails to break above the $68,500 resistance, it could experience a downside correction. Immediate support levels are at $67,600 and $67,200, followed by $66,500. Further losses may push the price towards the $65,500 support zone. Technical indicators suggest that the MACD is gaining pace in the bullish zone and the RSI for BTC/USD is above the 50 level.