{
    "id": 62673,
    "date": "2026-03-06T10:26:37",
    "date_gmt": "2026-03-06T03:26:37",
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        "rendered": "Bitcoin Price Rally Slows, Consolidation Signals Possible Next Move"
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        "rendered": "<div id=\"ftwp-postcontent\">\n<p><em>Bitcoin price started a steady increase above $70,500 and $72,500. BTC is now consolidating and might aim for a fresh increase above $72,500.<\/em><\/p>\n<ul>\n<li>Bitcoin started a fresh increase after it settled above the $70,000 zone.<\/li>\n<li>The price is trading above $70,000 and the 100 hourly simple moving average.<\/li>\n<li>There is a bullish trend line forming with support at $69,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair might dip again if it trades below the $70,000 and $69,000 levels.<\/li>\n<\/ul>\n<h2 id=\"ftoc-heading-1\">Bitcoin Price Starts Downside Correction<\/h2>\n<p>Bitcoin price extended its <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-jumps-70k\/\" target=\"_blank\">increase<\/a> above the $68,500 zone. BTC gained pace for a move above the $70,000 resistance zone. The price even rallied above the $72,000 resistance.<\/p>\n<p>Finally, the bears appeared near $74,000. A high was formed at $74,062, and the price recently started a downside correction. There was a move below $72,000 and the 23.6% Fib retracement level of the upward move from the $66,164 swing low to the $74,062 high.<\/p>\n<p>Bitcoin is now trading above $70,000 and the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-consolidates-67k\/\" target=\"_blank\">100 hourly simple moving average<\/a>. There is also a bullish trend line forming with support at $69,000 on the hourly chart of the BTC\/USD pair.<\/p>\n<figure id=\"attachment_885976\" aria-describedby=\"caption-attachment-885976\"><a href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2026\/03\/Bitcoin_641d5c.png\"><img loading=\"lazy\" data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2026\/03\/Bitcoin_641d5c.png?resize=1024%2C512\" alt=\"Bitcoin Price \" width=\"1024\" height=\"512\"><\/a><figcaption id=\"caption-attachment-885976\">Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\">BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n<p>If the price remains stable above $70,000, it could attempt a fresh increase. Immediate resistance is near the $72,000 level. The first key resistance is near the $72,500 level. A close above the $72,500 resistance might send the price further higher. In the stated case, the price could rise and test the $73,200 resistance. Any more gains might send the price toward the $74,000 level. The next barrier for the bulls could be $75,000 and $75,500.<\/p>\n<h2 id=\"ftoc-heading-2\">Downside Correction In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $72,000 resistance zone, it could start another decline. Immediate support is near the $70,000 level or the 50% Fib retracement level of the upward move from the $66,164 swing low to the $74,062 high. The first major support is near the $69,000 level.<\/p>\n<p>The next support is now near the $68,500 zone. Any more losses might send the price toward the $68,000 support in the near term. The main support now sits at $66,200, below which BTC might struggle to recover in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $70,000, followed by $69,000.<\/p>\n<p>Major Resistance Levels \u2013 $72,000 and $72,500.<\/p>\n<\/p><\/div>",
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