Bitcoin: Clears $70,000 for First Time Since June
Bitcoin surges above $70,000 for the first time since June 2nd as $2.7 billion in levered short liquidations hit in 24 hours, with BTC technical confluence showing overbought RSI at 86.58.
SourceAnalysis
Bitcoin extended gains above $70,000 for the first time since June 2nd while levered short liquidations reached $2.7 billion in the past 24 hours.
Price action now tests upper Bollinger Band resistance at $68,549.28 with RSI(14) at 86.58 flashing overbought conditions, yet the bullish EMA50 support at $64,461.68 and EMA200 at $64,040.72 remain firmly intact alongside a MACD golden cross at 1,131.07, suggesting any near-term pullback would likely find bids at the 50-EMA before continuation higher in this BTC price surge environment driven by forced covering.
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