Bitcoin Nears $76,000 Target Amid Price Correction — But Will This Support Hold?

Quick Summary:

Related Reading: Don’t Call Bitcoin Bottom Just Yet, CryptoQuant Head Says: Here’s Why BTC Active Addresses Rise Amid Price Fall In other news, blockchain analytics firm IntoTheBlock reports that the number of Bitcoin active addresses is increasing despite the ongoing price fall.  Notably, this metric has reached its highest daily level since December 2024 suggesting a significant surge in on-chain activity.  Historically, such developments usually occur at major market turning points i.e.either peaks driven by new entrants rush or bottoms due to panic selling and opportunistic buyers.

In gauging the eventual ultimate Bitcoin support level, Cryptododo7 notes that market reaction at $73,000-$76,000 will be quite important as strong buying pressure at this level could result in a sharp price rebound.

Amid the falling prices in the past week, Bitcoin dipped below the double top neckline level at $91,500 confirming a price reversal.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Semilore Faleti

Category: Crypto

Markets: United Kingdom

Topics: Bitcoin support Double top formation PlanD BTCUSDT Bitcoin Cryptododo7 Bitcoin Btcusd

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-01 @ 15:30:21 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 410 words

Reading Time: 3 minutes read

Sentences: 70 lines

Sentence Length: 6 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 26546201

View Article Analysis

About NewsBTC

Main Topics: Crypto

Official Website: newsbtc.com

Update Frequency: 8 posts per day

Year Established: 2013

Headquarters: United Kingdom

News Last Updated: 8 hours ago

Coverage Areas: United Kingdom

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #102

Publisher Details

Frequently Asked Questions