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Bitcoin nears $71K resistance, risking a breakout rally to $85K amid surging trading volumes and short liquidations.

Technical Signals
23 Mar 2026
FXEmpire
View Source
Bullish
pluang ai news

Bitcoin's price has risen 2.6% in 24 hours with trading volumes up 90%, as bulls push to break the key $71,000 resistance level. This breakout could trigger a strong rally to $85,000, supported by technical indicators like the 200-period EMA and RSI momentum. Nearly half of $800 million in crypto liquidations recently were short positions, indicating bears may be squeezed out soon. Positive geopolitical news and easing inflation fears add to bullish sentiment, making a potential 5x risk-reward trade possible if Bitcoin sustains above $71,500.

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