TA: Bitcoin Surge To $60K On The Horizon, As Bears Show Weak Hands

2021-10-7 06:08

Bitcoin extended its rally above the $55,000 resistance against the US Dollar. BTC could correct lower, but the bulls might aim more gains towards $60K.

Bitcoin climbed higher above the $52,000 and $54,000 resistance levels. The price is now trading above $53,000 and the 100 hourly simple moving average. There is a connecting bullish trend line forming with support near $53,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to rise above the $55,500 and $56,500 resistance levels in the near term. Bitcoin Price Extends Rally

Bitcoin price started a strong increase above the $50,000 resistance. BTC even broke the $52,000 resistance level and settled above the 100 hourly simple moving average.

The upward move was such that the price broke the $53,200 resistance. It even spiked above the $55,000 level. A high is formed near $55,770 and the price is now consolidating gains. An immediate support on the downside is near the $55,000 level.

It is close to the 23.6% Fib retracement level of the upward move from the $50,366 swing low to $55,777 high. There is also a connecting bullish trend line forming with support near $53,000 on the hourly chart of the BTC/USD pair.

Source: BTCUSD on TradingView.com

On the upside, an initial resistance is near the $55,500 level. The first major resistance is near the $56,200 level, above which the price could accelerate higher. The next major resistance for the bulls may possibly be near the $58,000 level. Any more gains could set the pace for a move towards the $60,000 level.

Dips Limited In BTC?

If bitcoin fails to clear the $56,000 resistance zone, it could start a fresh downside correction. An immediate support on the downside is near the $55,000 level.

The first major support is now forming near the $54,200 level. The next major support is near the $53,000 level and the trend line. It is near the 50% Fib retracement level of the upward move from the $50,366 swing low to $55,777 high. If there is a break below the trend line support, the price might decline towards the $50,000 level and the 100 hourly SMA.

Technical indicators:

Hourly MACD – The MACD is still moving in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is well above the 50 level.

Major Support Levels – $55,000, followed by $53,000.

Major Resistance Levels – $55,500, $56,200 and $58,000.

origin »

Bitcoin (BTC) на Currencies.ru

$ 94514.42 (+0.02%)
Объем 24H $17.613b
Изменеия 24h: 0.48 %, 7d: -3.81 %
Cегодня L: $94285.8 - H: $94926.07
Капитализация $1872.868b Rank 1
Цена в час новости $ 54001.89 (75.02%)

bitcoin above resistance 60k bulls might aim

Источник: newsbtc.com

bitcoin above → Результатов: 126


Crypto Shorts Suffer $147 Million Squeeze As Bitcoin Returns Above $63,000

Data shows the cryptocurrency sector as a whole has witnessed a high amount of liquidations following the volatility Bitcoin and others have gone through. Bitcoin Has Recovered Back Above The $63,000 Level Following the news of the US Federal Reserve cutting back on interest rates, Bitcoin has responded positively, with its price breaking above the $63,000 level.

2024-9-20 04:30


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Price Under Pressure: Could The Slide Continue?

Bitcoin price extended losses and traded below the $100,000 zone. BTC is showing bearish signs and might continue to move down toward the $91,200 support zone. Bitcoin started a fresh decline from the $100,000 resistance zone.

Bitcoin Decline Continues: Are Bulls Losing Control?

Bitcoin price extended losses and traded below the $100,000 zone. BTC is struggling and might continue to move down toward the $92,000 support zone. Bitcoin started a fresh decline from the $102,000 resistance zone.