Bitcoin Surges $74K as Momentum Intensifies

Bitcoin established a solid base above $62,000 and fired off a renewed uptrend against the U.S. dollar, yet the price failed to breach its earlier hurdles near $66,650 and $70,000.

Examining the four‑hour interval, the currency closed well above $72,000 while simultaneously staying north of the 100‑period (red) and 200‑period (green) simple moving averages. Within a span of two days the market climbed more than 20 % and chased momentum to the $75,500 resistance level.

Apex activity peaked at $75,716 on TitanFX, after which the figure has entered a brief consolidation phase. Should a downward correction occur, the price may seek new buying interest near $73,500.

Support levels appear to hover around $72,500; a breached low would likely unleash a sharp sell-off. Conversely, the primary upside target sits at $75,500, with secondary resistance zones forming at $76,200 and higher, targeting $76,800 and eventually probing $80,000 if additional strength materializes.

In parallel, Ethereum posted a strong 20 % rise, climbing above $2,250 and hinting at a forthcoming technical correction.

Today’s Key Economic Releases

• US S&P Global Manufacturing PMI for August 2026 (Preliminary) – forecast 53.8 versus a prior expectation of 53.9.
• US S&P Global Services PMI for August 2026 (Preliminary) – forecast 54.0 versus 54.6 previously.

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