Bitcoin rebounded from the $60,000 support area and climbed toward $74,000 between March 8 and March 16. Market data cited by analyst Crypto Patel shows BTC recently trading near $73,700, with the move from support amounting to a gain of about 23%.
The advance developed in stages rather than through one sharp breakout. Bitcoin traded around $67,000 to $68,000 early in the period, then buyers gradually pushed the price above $70,000. After a brief pause near $71,000, the asset extended higher and approached the $74,000 resistance area.
Resistance builds above $73,700
Crypto Patel said $73,700 is now acting as intermediate resistance, while the more important ceiling sits between $74,000 and $74,500. That range is now the main area traders are tracking in the short term.
On the downside, the chart points to immediate support at $72,800. If that level fails to hold, the next areas being watched are $71,500 and $70,000. The recovery remains intact, but price action has started to slow as Bitcoin presses into overhead resistance.
RSI cools from higher levels but stays above neutral
Momentum indicators still lean positive even after a minor pullback. The Relative Strength Index is currently at 60.02, which keeps it above the neutral 50 line. Earlier in the rally, the RSI moving average reached roughly 66.81, bringing the indicator close to the 70 overbought threshold.
That retreat toward 60 suggests momentum has cooled from its earlier pace. It has not flipped bearish. As long as RSI holds above 50, short-term control still favors buyers, and traders are watching for either renewed strength or more sideways movement near current levels.
MACD remains positive as momentum eases
The MACD setup continues to support the present trend. Bitcoin’s MACD line stands near 585.33, above the signal line around 506.57. The histogram is also positive at 78.75, showing that upside momentum is still in place.
At the same time, the histogram bars have narrowed slightly. That points to a temporary slowdown after the latest push higher. With price running into resistance near $74,000, the market appears to be shifting from a steady climb to a test of whether that zone can be cleared.
$60,000 remains the key reference level
Crypto Patel also outlined a broader path for Bitcoin. According to the analyst, the asset could move toward $80,000 if the $60,000 support level continues to hold. That view is tied directly to the strength of the earlier rebound from that base.
He also described the downside case. If $60,000 breaks, Patel identified the $45,000 to $50,000 range as an institutional buy zone. For now, attention remains fixed on the $74,000-$74,500 resistance band and whether support at $72,800 can hold during any pullback.