Bitcoin Holds Near $70,000 As BTC Trades In Tight Range Below $72,500 Resistance

Bitcoin has rebounded from support above $66,000 and is now trading over $70,000, with price action constrained below resistance levels at $72,000 and $72,500. The BTC/USD pair sits above the 100 hourly simple moving average within a rising channel that has support near $68,800, while failure to clear $72,500 could open the way for a move back toward $69,400, $68,500 and potentially $66,500–$65,000.