Bitcoin (BTC) price surged, as the cryptocurrency continues to gain traction towards the resistance area of $74,000 and $78,000. The price rise has been attributed to the buying pressure as the market assesses the ability of the cryptocurrency to rise past major technical hurdles.
At the time of writing, BTC is trading at $73,063, with a 24-hour trading volume of $110.97 billion and a total market capitalization of $1.47 trillion, according to data from CoinMarketCap. The BTC has increased 7.29% over the last 24 hours, reflecting renewed interest across the broader crypto market.
Source: CoinMarketCap
On March 4, 2026, a popular crypto analyst, BATMAN, shared an updated BTC price prediction. According to the BATMAN, the current BTC price action seems to be quite strong from a technical perspective. If BTC manages to break past a major Fibonacci resistance, the next major liquidity area for Bitcoin will be located at the price range of $74,000 and $78,000.
Source: X
The BATMAN further stated that Bitcoin still has some room to move higher before the anticipated correction, but a breakout above the resistance is needed to continue the current trend and support the case for a trend change.
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Bitcoin is currently trading at around $73,063. The RSI reading is at 56.83 and is above the signal line at 40.17. The RSI reading above 50 indicates that the short-term trend for Bitcoin is bullish.
Another positive sign is that Bitcoin has re-established its 20-day Simple Moving Average, presently at $67,694. Being above this short-run average is normally seen as a positive sign.
Source: TradingView
However, the overall structure still remains mixed as the asset trades below its 50-day average at $76,376, its 100-day average at $83,059, and its 200-day average at $96,373. The fact that it still trades below its averages suggests that the macro trend has not yet shifted to a bullish phase.
Another technical indicator, the Moving Average Convergence Divergence (MACD), is also showing early signs of recovery. It has turned positive at 1,177 and has crossed above its signal line at -1,567, which is normally favorable for upward price continuation.
The MACD histogram is still in negative territory at -2,744, indicating that the momentum recovery process is still in progress. It is also worth noting that the price of bitcoin is still below major long-term averages, implying that stronger buying pressure is required to confirm the breakout.
For now, investors are keeping an eye on whether it can break through the resistance zone of $74k-$78k. If it succeeds, it could potentially lead to more upside, whereas a failure could lead to more consolidation and downside volatility.
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