Bitcoin has surged beyond the crucial $70,000 mark, instilling confidence in its investors. The BTC/USD pairing has shown strong momentum, surpassing $71,500 and indicating a potential continuation of its upward movement. Despite this progress, overcoming the $71,000 milestone remains a challenge.

Recent trading patterns have kept Bitcoin's value above $70,250, supported by the 100-hour Simple Moving Average, signaling an upward trajectory. The $70,200 level has emerged as a significant support on the hourly chart, forming an essential upward trend line.

After breaking through the $69,000 resistance zone, Bitcoin has entered a bullish phase, surpassing $70,000. The currency has now encountered resistance around $71,000 and $71,500, with minor pullbacks expected. However, the overall upward trend for Bitcoin is evident, with strong resistance forming above $70,000.

Traders should monitor potential resistance levels at $72,500 and $73,500 if Bitcoin's value continues to rise. Failure to surpass the $71,500 resistance point could lead to a bearish trend, with immediate support expected at $70,200. A drop below $69,200 might initiate a decline towards $68,000 and possibly the $66,500 support zone.

Technical indicators such as the hourly MACD and RSI for BTC/USD suggest growing momentum and continued optimism. Key market levels to watch include support at $70,200 and $69,200, and resistance at $71,200, $71,500, and $73,500.