Bitcoin has moved higher in recent sessions, gaining 4.4% over the past day and about 5.5% during the week. The price is currently trading around $70,700 after rebounding above the 78.6% Fibonacci retracement near $68,100. This level acted as support during the latest pullback and helped stabilize the market.
Momentum indicators have started to improve alongside the price recovery. The short-term RSI has climbed toward 60, while the longer-period RSI remains near the neutral zone. The Awesome Oscillator has shifted into positive territory, indicating strengthening upward momentum. At the same time, the ADX reading near 32 suggests that trend strength may be increasing.
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Resistance Zone Approaching
Bitcoin is now approaching the upper Bollinger Band around $71,700, a level that often acts as short-term resistance during upward moves. As the price nears this area, momentum indicators are also moving toward higher levels, with RSI approaching the upper part of its typical range.
If the upward movement continues, the next major resistance lies near the 61.8% Fibonacci retracement around $74,500. This level represents the next key technical barrier on the chart and may attract increased trading activity.
