Bitcoin Breaks ₱4,534,685 ($75,500) After Base at ₱4,474,623 ($74,500)
Bitcoin cleared the 61.8% Fibonacci retracement level from a swing high of $78,344 down to $73,637, putting resistance at $77,250 before the $78,000 target.
Key Takeaway
Bitcoin bulls control the chart above $75,500, but $77,250 resistance must break for $78,000 to come into play.
Bitcoin rallied above $75,500 after grinding out a recovery from its recent base at $74,500, according to hourly chart data from the BTC/USD pair on Kraken. The price is now trading above its 100-hour simple moving average, with bulls targeting a push toward $78,000.
The move cleared the 61.8% Fibonacci retracement level measured from a swing high of $78,344 down to a swing low of $73,637. That technical milestone puts the next key resistance zone at $77,250, with a secondary barrier at $77,350 matching the 76.4% Fibonacci level.
The hourly MACD is gaining pace in the bullish zone, while the Relative Strength Index climbed above 50. A rising channel on the hourly chart suggests momentum could carry Bitcoin toward $78,500 if it clears the $78,000 level.
Immediate downside protection sits at $76,000, with stronger floors at $75,650 and $75,400. A break below those levels would expose $74,250, with the main support zone holding at $73,200.
The rally comes as crypto liquidity dynamics improve after months of mechanical unwinding from leveraged positions. Bitwise's Matt Rasmussen noted that when liquidity returns to the ecosystem, Bitcoin is set up for a very strong rebound due to positive developments creating mispricing. Spot Bitcoin ETF flows turned positive in March 2026 after mixed performance through February, with a ₱94.3 billion ($1.57 billion) corporate purchase by Strategy.
This article was written based on reporting from NewsBTC.
