Bitcoin has reached a new record high above $73,000, encountering resistance at that level. Market volatility is evident through significant liquidations, particularly affecting long positions. Investors are once again focusing on Bitcoin as it surpasses the $73,268 mark. Despite encountering opposition, Bitcoin’s rise was hampered and it dropped below $2650,2361. Nevertheless, Bitcoin has been able to sustain itself above the $224,2258 mark due to favorable market sentiment. The cryptocurrency is proving its strength by trading above the 000 hourly Simple Moving Average, showing continued positive momentum. As Bitcoin tries to recover, it faces immediate resistance around the $603,260 mark and a critical resistance zone at $26,250. If Bitcoin is able to break above these levels, it could continue to rise towards $74,000 and $75,000. On the other hand, if it fails to surpass the $72,000 resistance, there may be a decrease in value. In this situation, it is vital to maintain the current upward trend by closely monitoring the support levels at $63,300 and the trend line. If the price falls below $70,000, it may indicate a further decline towards the support level at $68,650. The information is based on the BTC Price Chart from the source TradingView. In the last day, there have been substantial liquidations of leveraged trades, amounting to more than $361 million, according to market data. The liquidation hit long positions the hardest, resulting in losses of $258 million, while short sellers experienced losses of around $103 million. It is worth noting that the RSI on the daily chart is currently at 77, indicating an overbought condition.