Would Bitcoin break it's $70k price resistance level?

[Dynamite++]

Lately Bitcoin has been doing crazy numbers,after hitting a low of around $62k price surges high gaining over 3% in value in 24hrs and then hitting $70k and bouncing back down. Alots of speculation online are suggesting that Bitcoin it's on its path to full price recovery and would surely update it's all time high price due to the fact that more investors and big companies are currently buying.so looking at that $70k Bitcoin price resistance,do you think Bitcoin would break through?

[_act_]

This is hard to guess, I mean the time bitcoin will go above $70000, but bitcoin is close to the price as it is at $68000 right now. But if it is a long term speculation, it is very certain that bitcoin will get above $70000 and get to all time high but no one know how early this would be but do not be discouraged if you have some bitcoin on your wallet that you are holding, bitcoin will get to all time high. If you are patient, you will make money from it.

[melinoe]

Lately Bitcoin has been doing crazy numbers,after hitting a low of around $62k price surges high gaining over 3% in value in 24hrs and then hitting $70k and bouncing back down. Alots of speculation online are suggesting that Bitcoin it's on its path to full price recovery and would surely update it's all time high price due to the fact that more investors and big companies are currently buying.so looking at that $70k Bitcoin price resistance,do you think Bitcoin would break through?

I think it will happen eventually but nobody would tell when exactly.

Our job is to hodl through that

[ColdLava40]

so looking at that $70k Bitcoin price resistance,do you think Bitcoin would break through?

No one knows when but definitely it will.all we have now is speculations on what price might do next,but it's best to just sit back relax and let it do it's thing.

It's already showing signs of being bullish but it's last pull up has failed again to break above. Being positive though, we hope it does reverse to the buy side..

[melinoe]

so looking at that $70k Bitcoin price resistance,do you think Bitcoin would break through?

No one knows when but definitely it will.all we have now is speculations on what price might do next,but it's best to just sit back relax and let it do it's thing.

It's already showing signs of being bullish but it's last pull up has failed again to break above. Being positive though, we hope it does reverse to the buy side..

When we will least expect it - it will go back where it needs to be

[DaveF]

Probably, but not soon IMO.
Just my view, but I think there are a bunch of external factors going on at the moment that are putting sell pressure on BTC.

Not to mention a lot of people bought as it was going up and don't have the stomach to ride out the dips and are getting out and putting their $ into something "safe"

-Dave

[joeperry]

No one can really answer that question, most of the traders are not opening a position including me since most of them are eyeing at $60,000 if it would break, it means it's probably going down to $50k or $40k and if it breaks $70k then it would go to $80k. Though I'm sure that it would break $70k but I'm not sure when. If I'm going for a position now, I would rather do a scalping because the market is in sideways now, I think it's better to open up a position if it breaks some of the key resistances, though we all hope that it would break the $70k and hope to reach $100k at least this upcoming months.

[GreatArkansas]

Probably, but not soon IMO.
Just my view, but I think there are a bunch of external factors going on at the moment that are putting sell pressure on BTC.

Not to mention a lot of people bought as it was going up and don't have the stomach to ride out the dips and are getting out and putting their $ into something "safe"

-Dave

Same thoughts, it seems the news about Jane Street market manipulation only made the entire market pumped for a while, but it seems it got rejected to break the $70,000.
I have no problem if we go sideways within the $60,000 level this entire quarter. But yeah, I think the shake recently is also we are closing the monthly candle, so for me, it was just a test for $70,000 and just rejected.

[Cryptohygenic]

Lately Bitcoin has been doing crazy numbers,after hitting a low of around $62k price surges high gaining over 3% in value in 24hrs and then hitting $70k and bouncing back down. Alots of speculation online are suggesting that Bitcoin it's on its path to full price recovery and would surely update it's all time high price due to the fact that more investors and big companies are currently buying.so looking at that $70k Bitcoin price resistance,do you think Bitcoin would break through?

You can not be speculating for new Ath which we currently have the current one at $126,000 and been arguing about the probability of breaking a resistance level of $70,000 in a bearish trend the market is struggling on
If we have to lookup to this according to historical records, we can not see a new Ath any moment soon not until 2029 after the halving according to how bitcoin market has also tend to follow the trends.
Market price is currently trading at the range of $66,000 as I make this post while it intraday yesterday almost break the $70,000 following the continual agressive buying of Institutional investors.
So if the trend persists with the same pressure, price might surge above even the $70,000 rejection.

[Razmirraz]

Lately Bitcoin has been doing crazy numbers,after hitting a low of around $62k price surges high gaining over 3% in value in 24hrs and then hitting $70k and bouncing back down. Alots of speculation online are suggesting that Bitcoin it's on its path to full price recovery and would surely update it's all time high price due to the fact that more investors and big companies are currently buying.so looking at that $70k Bitcoin price resistance,do you think Bitcoin would break through?

It has been very interesting to watch the Bitcoin price movement lately, after hitting a low of around $62,000, Bitcoin shot up and reached $70,000, but then fell back down. It's safe to say that the price resistance at $70,000 is quite strong at the moment, but the recent surge in the last 24 hours suggests that Bitcoin is on its way to a full price recovery. Bitcoin still has the potential to break through the $70,000 resistance, this speculation could happen if investors and large companies continue to buy it. So, only time will tell.

[AprilioMP]

Lately Bitcoin has been doing crazy numbers,after hitting a low of around $62k price surges high gaining over 3% in value in 24hrs and then hitting $70k and bouncing back down. Alots of speculation online are suggesting that Bitcoin it's on its path to full price recovery and would surely update it's all time high price due to the fact that more investors and big companies are currently buying.so looking at that $70k Bitcoin price resistance,do you think Bitcoin would break through?

The influence of external factors has led to an increase in sellers. This cannot be blamed on them, as it depends on their personal circumstances, even though when prices fall, it is an opportunity to buy rather than sell.
The highest price of $68,272 in 24 hours and the lowest price of $65,600 make me think that breaking through the $70,000 price point will not happen in a matter of hours or in a short period of time.
The highest price within 24 hours, when calculated, is not far from $70,000, but the problem remains the same: it is still not strong enough to hold when the chart forms a green candle.

[taufik123]

Probably, but not soon IMO.
Just my view, but I think there are a bunch of external factors going on at the moment that are putting sell pressure on BTC.

Not to mention a lot of people bought as it was going up and don't have the stomach to ride out the dips and are getting out and putting their $ into something "safe"

-Dave

There are many external factors that affect the price of Bitcoin, not just about selling but rumors, FUD and the like are constantly being spread to affect the price of Bitcoin.
Now more retail traders are panicking and they are just waiting for the right time to get back into the market or buy again.

Those who have already bought at a high price may survive, but more will sell it when they see that the price is not good, it is a panic that makes them have to sell it immediately.
Even though if you wait even more patiently and allocate funds well and have money reserves, buying back is the best strategy.

Moving investment from Bitcoin to Investment Instruments that they think are "SAFE" will not necessarily continue to be safe,
Gold is even quite high and there will certainly be a decline even though it is not as crazy as crypto.

[Fivestar4everMVP]

Lately Bitcoin has been doing crazy numbers,after hitting a low of around $62k price surges high gaining over 3% in value in 24hrs and then hitting $70k and bouncing back down. Alots of speculation online are suggesting that Bitcoin it's on its path to full price recovery and would surely update it's all time high price due to the fact that more investors and big companies are currently buying.so looking at that $70k Bitcoin price resistance,do you think Bitcoin would break through?

I honestly do not think bitcoin is currently on its way to full price recovery as claimed by some people on social media, people are quick to start speculating a recovery anytime price moves up a bit, and also quick to start doing speculating that we are currently in a full heat season any time price moves down, no body want to accept being wrong in their speculation so every is actively updating their speculation based on how the market moves.

Not every price increase means recovery, and not every price drop means we are in a bear season, but right now, i think we are still in a bear season and there is no price recovery happening yet, the increase in the price of Bitcoin and some Altcoins a day to two ago was simply the market showing its still active, nothing more.

And as for bitcoin breaking the $70k barrier, it definitely will but I am not expecting that to happen sooner as many of us think.

[TokenTikas]

so looking at that $70k Bitcoin price resistance,do you think Bitcoin would break through?

The current market is going through a lot of instability. As I'm writing this post, the price of bitcoin is moving up and down around 66.3k. Compared to the past few days, the price looks a bit more unstable today because it had almost reached close to 70k. The market is still in an unstable condition but it seems there is a possibility it may move above 70k. We may have some ideas, but nobody can say for sure which direction it will finally go. We can only make assumptions based on the surrounding situation and it is possible that bitcoin may soon reach a new all-time high. Those who are patiently waiting will surely be able to gain a good amount of profit if bitcoin reaches its highest price ever.

[Yamane_Keto]

In April 2022, the same thing happened again, as the price collapsed from $32,000, which was supposed to be the bottom of $70,000, to $17,500, the long-term bottom. This could happen again, and then the current bottom might not be $65,000, but $50,000.

[mindrust]

I don't see bitcoin going much higher from these prices in the short term as recently Afghanistan and Pakistan waged war and Iran is also about to have a war with the United States. The market still believes bitcoin is a risk-on asset and risk-on assets tank during uncertainty while risk-off assets soar. Many people think bitcoin is digital gold but so far they don't behave similarly. Bitcoin is tend to go down while gold and silver are going up. You mean whatever you like but it seems the majority think bitcoin isn't anything like precious metals. Over the short term, bitcoin will still be a winner but this year doesn't look so good for btc.

[salad daging]

It is possible that in the next few months bitcoin can break the $70K resistance, but in the near future it is unlikely because the current decline is still strong enough for bitcoin to recover to the $70K price.

Some people talk about external factors, it's possible because it's very influenced out there, it's just that we can't predict with certainty about $70K other than waiting for when this will happen, the market is now still negative and it is difficult to break through to the top price.

[pooya87]

Eventually but not for the time being. We are currently in a bear mode and there are outside events that are preventing this trend to change.

Events like the geopolitical tensions the US regime is causing around the globe, the latest being in the energy rich West Asia. As we can see, over the past month oil price has gone up more than 20% and gold is back to rising again reaching $5200+ again.
This is taking a toll on the economy and usually creates more sell pressure in the bitcoin market, specially since this is making the recession worse.

That translates to a more difficult situation to get out of the bear market.

[Doan9269]

This is possible anytime soon, but maybe we should just accept and let go for this month that February is meant for bear, maybe $70,000 will be fully achieved in March provided that the market resistance is overcome, and the support is more stronger, even though this does not also justify that we are already off the bear market, as the price may still drop down below $70,000 after its been achieved.

[Yaunfitda]

This is possible anytime soon, but maybe we should just accept and let go for this month that February is meant for bear, maybe $70,000 will be fully achieved in March provided that the market resistance is overcome, and the support is more stronger, even though this does not also justify that we are already off the bear market, as the price may still drop down below $70,000 after its been achieved.

Yes, definitely this is possible, $70k is just another barrier that we have to break and sooner or later we will do that. However, since we're already in the bear market, then prices are going to decline and so might be hard to reach certain prices as it could be a big psychological barrier in front of us. Nevertheless, it's achievable as some point and so it's better not to put any pressure on us investor or the market itself to have certain barriers breach. And even if we breach it, it's no assurance that we can hold on that price since again, the presence of the bear. So I would rather expect the price to go down and reaches lowest low this year as opposed to anticipated that the price action is going to be positive and breaking prices.