{"id":214674,"date":"2021-03-30T18:00:00","date_gmt":"2021-03-30T15:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-nears-all-time-highs-heres-why-73k-is-the-next-key-level-to-watch\/"},"modified":"2021-03-30T18:00:00","modified_gmt":"2021-03-30T15:00:00","slug":"bitcoin-nears-all-time-highs-heres-why-73k-is-the-next-key-level-to-watch","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-nears-all-time-highs-heres-why-73k-is-the-next-key-level-to-watch\/","title":{"rendered":"# Bitcoin nears all-time highs \u2014 Here&#8217;s why $73K is the next key level to watch"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a400bc58ed79\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a400bc58ed79\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-nears-all-time-highs-heres-why-73k-is-the-next-key-level-to-watch\/#Critical_support_zone_holds_for_more_upside\" >Critical support zone holds for more upside<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-nears-all-time-highs-heres-why-73k-is-the-next-key-level-to-watch\/#The_total_market_cap_looks_bullish\" >The total market cap looks bullish<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-nears-all-time-highs-heres-why-73k-is-the-next-key-level-to-watch\/#Bitcoin_dominance_chart_approaches_a_critical_zone\" >Bitcoin dominance chart approaches a critical zone<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-nears-all-time-highs-heres-why-73k-is-the-next-key-level-to-watch\/#A_possible_scenario_for_Bitcoin\" >A possible scenario for Bitcoin<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin nears all-time highs \u2014 Here&#8217;s why $73K is the next key level to watch <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>The price of Bitcoin (BTC) saw a correction in the run-up to the record options expiry last Friday. However, nothing h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ened despite some expecting a massive move on the same day. The actual correction occurred before the event. On the day itself, Bitcoin\u2019s price has bottomed out and began to rally.<\/p>\n<p>The ongoing rally above $59,000 is being fueled by bullish <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> from Visa and PayPal as both are getting into Bitcoin and cryptocurrency payments. Put differently, the market is very much in the middle of the bull cycle and any correction is a blessing to traders and investors. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Critical_support_zone_holds_for_more_upside\"><\/span>Critical support zone holds for more upside<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-03\/300c4169-ea66-472a-b441-c21b65144b4b.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>BTC\/USDT 3-day chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/x\/EnZRFYNY\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>As the chart above shows, the critical support area between $49,500 and $51,000 was just tested last week. Since the support held, another higher low was made, resulting in renewed upward momentum, which is playing out this wee. <\/p>\n<p>The entire structure since September is massively bullish when the market broke above $12,000 and started to accelerate. The previous higher low was made at $42,000, which then became the critical support area to hold. As Bitcoin\u2019s price didn\u2019t even need such a heavy correction this time around, the recent low at $49,500-$51,000 can be classified as the new higher low.<\/p>\n<p>Therefore, the next points of interest can be made through the Fibonacci extension, where $73,000 and $92,000 become the next points of interest if Bitcoin\u2019s price breaks above the current all-time high at around $61,000. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_total_market_cap_looks_bullish\"><\/span>The total market cap looks bullish<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-03\/5b638f0a-efef-480b-bfd6-1702c560cc62.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Total market capitalization cryptocurrency 3-day chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/x\/GDqLPwaM\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>The total market capitalization shows a similar support test as the $1.5 trillion levels were critical to hold. <\/p>\n<p>Since the total market cap of crypto survived that correction, more upside is very likely as the all-time high regions will be tested. <\/p>\n<p>If further strength is being demonstrated, the next points of interest for the total market cap can be found at $2.2 trillion, which is also confirmed by the Fibonacci extension.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_dominance_chart_approaches_a_critical_zone\"><\/span>Bitcoin dominance chart approaches a critical zone<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-03\/f22c63ad-2b6e-4c3c-901a-201b76562d08.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>BTC Dominance 3-day chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/x\/bZczKp5F\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>The dominance chart of Bitcoin shows a critical breaker for more downside. If the dominance drops below 60%, an assumption can be made that a sharp drop will occur toward 50%. <\/p>\n<p>That\u2019s not unlikely to happen since the summer period is often very favorable for altcoins. 2020 saw big rallies during this period, and investors remember the summer of 2017.<\/p>\n<p>History may certainly repeat once more as many altcoin charts are looking bullish for breakouts against Bitcoin. Therefore, for alt season to happen, the price of Bitcoin must be relatively stable or slowly grind upward, which is currently the case.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"A_possible_scenario_for_Bitcoin\"><\/span>A possible scenario for Bitcoin<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-03\/db1806c9-4375-4100-8fd5-ba3b7b95ca8a.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>BTC 4-hour chart. Source: Tradingview<\/em><\/figcaption><\/figure>\n<p>The 4-hour chart of Bitcoin shows a clear uptrend since its recent bottom at $50,000.<\/p>\n<p>However, several critical support levels are being established during this rebound. Right now, the important area to hold is $56,000. As long as that region maintains support, more upside is likely for the market. This puts new all-time highs and potentially $73,000 on the table.<\/p>\n<p>On the upside, the critical area to break is shown by the red box, specifically $59,000-$60,000. Until then, altcoins will probably continue to gain momentum, and even if Bitcoin makes new all-time highs, altcoins will most likely follow suit.<\/p>\n<p><em>The views and opinions expressed here are solely those of the <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/cryptomichnl?lang=en\"><em>author<\/em><\/a><em> and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.<\/em><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-nears-all-time-highs-here-s-why-73k-is-the-next-key-level-to-watch\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin nears all-time highs \u2014 Here&#8217;s why $73K is the next key level to watch &#8221; The price of Bitcoin (BTC) saw a correction in the run-up to the record options expiry last Friday. However, nothing happened despite some expecting a massive move on the same day. The actual correction occurred before the event&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":214675,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDMvZGJkZTg3NDktNDg2NC00ODBjLTg1M2YtN2Q3MmUyYWRkNDYwLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,74939,75164,73785],"class_list":["post-214674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-market-analysis","tag-price-analysis","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/214674","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=214674"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/214674\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/214675"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=214674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=214674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=214674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}