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{"id":459736,"date":"2021-03-28T05:08:38","date_gmt":"2021-03-28T05:08:38","guid":{"rendered":"https:\/\/ktsl888.com\/?p=459736"},"modified":"2024-06-11T14:14:20","modified_gmt":"2024-06-11T14:14:20","slug":"why-bitcoin-price-could-rally-above-57k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/why-bitcoin-price-could-rally-above-57k\/","title":{"rendered":"Why Bitcoin Price Could Rally If It Settles Above $57K"},"content":{"rendered":"

Bitcoin price is recovering nicely above $55,000 against the US Dollar. BTC is likely to start a strong increase if there is a daily close above the $57,000 resistance.<\/em><\/p>\n

\n
Bitcoin started a fresh increase above the $55,000 and $55,500 resistance levels.<\/li>\n
The price is now well above $55,000 and the 100 simple moving average (4-hours).<\/li>\n
There was a break above a major bearish trend line with resistance near $55,000 on the 4-hours chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could rally towards the $60,000 level if there is a close above the $57,000 resistance zone.<\/li>\n<\/ul>\n
Bitcoin Price is Showing Positive Signs<\/h2>\n
This past week, bitcoin price testes the $50,500 support zone and started a fresh increase<\/a> against the US Dollar. The BTC\/USD pair formed a support base above $52,000 and recently started a fresh increase.<\/p>\n
The price broke the $53,000 and $53,500 resistance levels to move into a positive zone. It opened the doors for a break above the $55,000 resistance zone<\/a>. There was a break above the 50% Fib retracement level of the downward move from the $57,235 swing high to $50,400 swing low.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Moreover, there was a break above a major bearish trend line with resistance near $55,000 on the 4-hours chart of the BTC\/USD pair. The pair is now trading above the 76.4% Fib retracement level of the downward move from the $57,235 swing high to $50,400 swing low.<\/p>\n
An immediate resistance is near the $57,000 level and the 100 simple moving average (4-hours). A successful break and close above the $57,000 resistance zone could open the doors for a move towards the $60,000 resistance zone in the coming sessions.<\/p>\n
Fresh Decline in BTC?<\/h2>\n
If bitcoin fails to settle above the $57,000 resistance or the 100 simple moving average (4-hours), there is a risk of a fresh decline. An initial support on the downside is near the $55,500 level.<\/p>\n
The first key support is near the broken trend line and $55,000. A clear break below the $55,000 support might open the doors for another decline. In the stated case, the price could decline towards the $53,200 level or even $53,000.<\/p>\n
Technical indicators<\/p>\n
4 hours MACD \u2013 The MACD for BTC\/USD is gaining momentum in the bullish zone.<\/p>\n
4 hours RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now moving nicely above the 50 level.<\/p>\n
Major Support Level \u2013 $55,500<\/p>\n
Major Resistance Level \u2013 $57,000<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is recovering nicely above $55,000 against the US Dollar. BTC is likely to start a strong increase if there is a daily close above the $57,000 resistance. Bitcoin started a fresh increase above the $55,000 and $55,500 resistance levels. The price is now well above $55,000 and the 100 simple moving average (4-hours). There was a break above a major bearish trend line with resistance near $55,000 on the 4-hours chart of the BTC\/USD pair (data feed from Kraken). The pair could rally towards the $60,000 level if there is a close above the $57,000 resistance zone. Bitcoin Price is Showing Positive Signs This past week, bitcoin price testes the $50,500 support zone and started a fresh increase against the US Dollar. The BTC\/USD pair formed a support base above $52,000 and recently started a fresh increase. The price broke the $53,000 and $53,500 resistance levels to move into a positive zone. It opened the doors for a break above the $55,000 resistance zone. There was a break above the 50% Fib retracement level of the downward move from the $57,235 swing high to $50,400 swing low. Source: BTCUSD on TradingView.com Moreover, there was a break above a major bearish trend line with resistance near $55,000 on the 4-hours chart of the BTC\/USD pair. The pair is now trading above the 76.4% Fib retracement level of the downward move from the $57,235 swing high to $50,400 swing low. An immediate resistance is near the $57,000 level and the 100 simple moving average (4-hours). A successful break and close above the $57,000 resistance zone could open the doors for a move towards the $60,000 resistance zone in the coming sessions. Fresh Decline in BTC? If bitcoin fails to settle above the $57,000 resistance or the 100 simple moving average (4-hours), there is a risk of a fresh decline. An initial support on the downside is near the $55,500 level. The first key support is near the broken trend line and $55,000. A clear break below the $55,000 support might open the doors for another decline. In the stated case, the price could decline towards the $53,200 level or even $53,000. Technical indicators 4 hours MACD \u2013 The MACD for BTC\/USD is gaining momentum in the bullish zone. 4 hours RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now moving nicely above the 50 level. Major Support Level \u2013 $55,500 Major Resistance Level \u2013 $57,000<\/p>\n","protected":false},"author":67,"featured_media":459739,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1144,78790,76835],"class_list":["post-459736","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nWhy Bitcoin Price Could Rally If It Settles Above $57K<\/title>\n<meta name=\"description\" content=\"Bitcoin price is recovering nicely above $55,000 against the US Dollar. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/ktsl888.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Why Bitcoin Price Could Rally If It Settles Above $57K","url":"http:\/\/ktsl888.com\/news\/why-bitcoin-price-could-rally-above-57k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/why-bitcoin-price-could-rally-above-57k\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/03\/Depositphotos_180246254_s-2019-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/03\/Depositphotos_180246254_s-2019-1.jpg?fit=1000%2C667"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btcusd","btcusdt","xbtusd"],"dateCreated":"2021-03-28T05:08:38Z","datePublished":"2021-03-28T05:08:38Z","dateModified":"2024-06-11T14:14:20Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Why Bitcoin Price Could Rally If It Settles Above $57K\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/why-bitcoin-price-could-rally-above-57k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/why-bitcoin-price-could-rally-above-57k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/Depositphotos_180246254_s-2019-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/Depositphotos_180246254_s-2019-1.jpg?fit=1000%2C667\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2021-03-28T05:08:38Z\",\"datePublished\":\"2021-03-28T05:08:38Z\",\"dateModified\":\"2024-06-11T14:14:20Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2021\/03\/Depositphotos_180246254_s-2019-1.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/459736"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=459736"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/459736\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/459739"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=459736"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=459736"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=459736"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}