Bitcoin Price Jumps 10% But Can Pump BTC Back To $70K?

Bitcoin price started a strong recovery wave from the $60,800 zone. BTC is up nearly 10% and now facing hurdles near the $68,800 resistance. Bitcoin price started a decent increase from the $60,800 support zone. The price is trading above $64,500 and the 100 hourly Simple moving average. There was a break above a key bearish trend line with resistance at $65,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must clear the $68,800 resistance zone to start a fresh uptrend. Bitcoin Price Recovers 10% Bitcoin price extended its decline below the $62,500 zone. BTC even spiked below the $61,200 level before the bulls appeared near $60,800. A low was formed near $60,778 and the price is now moving higher. There was a decent increase above the $63,000 and $64,000 resistance levels. The price even cleared the 50% Fib retracement level of the downward move from the $68,898 swing high to the $60,778 low. There was a break above a key bearish trend line with resistance at $65,000 on the hourly chart of the BTC/USD pair. Bitcoin is now trading above $64,500 and the 100 hourly Simple moving average. It is also above the 76.4% Fib retracement level of the downward move from the $68,898 swing high to the $60,778 low. Source: BTCUSD on TradingView.com Immediate resistance is near the $68,000 level. The first major resistance could be …..