According to CoinStats, the market is attempting to recover its previous positions.

BTC chart by CoinStats

The price of Bitcoin (BTC) has increased by 2.13% in the last 24 hours.

Image by TradingView

Traders should pay attention to the $70,912 level on the hourly chart. If the daily closing bar goes above this level, an upward movement might push the price towards the $72,000 zone tomorrow.

Image by TradingView

On the larger chart, bulls seem to be stronger than bears. If the closing bar is near the current prices, a breakout could occur, leading to a new all-time high.

Image by TradingView

Looking at the weekly chart, buyers seem to be in control. However, it is advisable to wait for the closing bar to confirm this trend. If the price closes above $73,000 without a long wick, it is likely to reach $75,000 soon.

Bitcoin is currently valued at $71,380.