NewsBTC •
March 12, 2026 at 03:20 •
Analysis
Bitcoin price failed to extend its recovery wave above the $70,500 zone. BTC is now consolidating and might decline again below $68,500. Bitcoin started a decent recovery wave above the $68,500 zone. The price is trading above $68,650 and the 100 hourly simple moving average. There is a key declining channel or a possible bullish flag forming with support at $68,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might dip again if it trades below the $68,400 and $68,000 levels. Bitcoin Price Faces Key Resistance Bitcoin price remained elevated and extended its increase above the $68,800 level. BTC climbed above the $69,500 and $70,000 resistance levels. The bulls pushed the price above the 61.8% Fib retracement level of the downward move fr...
