.What’s Next For Bitcoin Progressing To $ 60,000? – Bitcoin price rose above the $ 58,000 resistance against the US dollar. BTC is currently correcting its gains. But it will likely continue to bid around $ 56,750 and $ 56,500.
Bitcoin climbed above the $ 57,500 and $ 58,000 resistance levels before correcting lower.
The price is currently well above the $ 55,000 support and the 100 hourly simple moving average.
The hourly chart of the BTC / USD pair features a key bullish flag pattern with resistance near $ 57,700.
The pair is likely to find strong buying interest near the $ 56,500 support zone in the near term.
After surpassing the $ 57,000 resistance, Bitcoin extended its rise. BTC broke the $ 58,000 resistance level and settled nicely above the 100 hourly simple moving average.
It even traded to the $ 58,500 level and rose to a new high from $ 58,615 weekly. It is now correcting and is trading below the $ 58,000 level. Also, there was a break below the 23.6% Fib retracement level of the bullish wave from the low of $ 54,950 to $ 58,615.
There appears to be a significant bullish flag pattern formed with resistance near $ 57,700 on the hourly chart of the BTC / USD pair. Channel support is close to the $ 56,800 level.
On the upside, a clear break above the flag resistance near $ 57,700 could open the doors for a new increase.
The next key resistance is near the $ 58,500 level. A convincing break above the $ 58,500 resistance will likely set the pace of a move towards the $ 60,000 level.
If Bitcoin fails to move above $ 57,700 and $ 58,000, there could be a downside correction. As mentioned, the $ 56,500 level is a good support zone.
The next major support is near the $ 56,000 level. Further losses could require a drop towards the $ 55,000 support zone in the near term.
Hourly MACD – The MACD is slowly losing momentum in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC / USD is approaching the 50 level.
Major Support Levels – $ 56,500 followed by $ 56,000.
Major Resistance Levels – $ 57,700, $ 58,500 and $ 60,000.
Mining on RTX 3070. Overclocking, tuning, profitability, consumption: If you are interested in finding more…
Mining with GTX 1660, 1660 Ti, 1660 Super. Overclocking, settings, consumption, profitability, comparisons - If…
Mining with RTX 2070 and 2070 Super. Overclocking, profitability, consumption, comparison What the RTX 2070…
Mining with RTX 3060, 3060 Ti. Limitations, overclocking, settings, consumption, profitability, comparison Let's look at…
Alphacool Eisblock Aurora Acryl GPX-A (2022) with Sapphire Radeon RX 6950 XT Nitro+ Pure in…
In the ever-evolving landscape of business strategy, Bitcoin has emerged as a pivotal asset. With…
This website uses cookies.