Bitcoin Breaks All Barriers: $71K Surge – Is 2026 the New Bull Run?

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<a href="https://thbusd.com/btc-usd/">BTC</a> Price Surges Past $70,000: Rally Targets & Next Levels (March 4 Update)

Bitcoin‘s price is currently rising quickly. It recently broke past a trading range it’s been in for a month and reached $71,000, well above the $69,000 level which was expected to be a barrier. It’s unclear whether this price increase is due to artificial manipulation or genuine buying interest.

Upside spike breaks through major resistance

Bitcoin’s price is rising quickly this Wednesday. After breaking out of a month-long downward trend, it confirmed the breakout and quickly gained momentum. Unlike previous attempts that failed, the price surged in just a few hours, easily surpassing the $69,000 and then the $70,000 resistance levels.

Looking at the chart over the past hour, the price is trending upwards within a newly formed channel and has just reached its upper limit. It might encounter resistance here and fall back down, potentially establishing $70,000 as a new support level. Alternatively, if the upward momentum is strong enough, the price could break above this channel and continue to rise significantly.

Short to medium term price targets

Looking at the daily chart, a clear breakout is happening. It started with a strong candle, followed by a ‘hammer’ candle that closed above the previous high. Today, we’re seeing another strong green candle that briefly dipped back to test that high before breaking through a key resistance level and continuing upwards. Buyers are hoping this candle will close above $70,000 by the end of Wednesday.

If this takes place, what could be the next targets for the $BTC price? 

The first price target is a move to $73,000, based on recent trading patterns. If these patterns suggest a bullish continuation, we could see the price rise further to $75,000.

Okay, looking at the short-term charts, I’m seeing that Bitcoin could hit a bit of resistance around $81,000 to $82,000 – that’s the top of what looks like a falling wedge pattern. If we break through that, the next major hurdle is around $84,600, and interestingly, that price point also fills in a gap on the CME futures market, meaning there’s likely some selling pressure there.

Stunning rally or possible bear flag formation?

The market has been moving rapidly this week with this recent price increase. If the upward trend continues, we could see the price rise to between $85,000 and $86,000. However, keep in mind that $69,000 is a significant price level, so the price might fall back to test it as a support level before continuing to rise. This test will be important for confirming the continuation of the rally.

Initially, the recent price movements seemed to form a falling wedge. However, it now appears more likely to be a larger descending channel. If that’s correct, it’s a positive sign, as these patterns usually lead to prices increasing.

Bitcoin is currently facing resistance around $85,000. This level might be strengthened by the 100-week Simple Moving Average, which is also stabilizing near $87,000.

It’s important to watch the Stochastic RSI. It’s been moving noticeably towards the 20.00 level, even in just the last day. If it closes above 20.00 on the weekly chart, that could signal strong upward momentum and a significant price increase, potentially returning it to previous highs.

Just a quick warning: if Bitcoin’s price stops going up so strongly, the recent price movements could actually signal a continuation of the downward trend. Bear markets tend to be bumpy, and this one is likely no exception.

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2026-03-04 14:15