{"id":459896,"date":"2021-03-30T03:08:57","date_gmt":"2021-03-30T03:08:57","guid":{"rendered":"https:\/\/ktsl888.com\/?p=459896"},"modified":"2024-06-11T14:14:23","modified_gmt":"2024-06-11T14:14:23","slug":"bitcoin-btc-could-soon-rally-60k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-btc-could-soon-rally-60k\/","title":{"rendered":"TA: Bitcoin Holds Strong, Why BTC Could Soon Rally To $60K"},"content":{"rendered":"
Bitcoin price extended its rise above the $58,000 resistance against the US Dollar. BTC is now correcting gains, with but it is likely to remain well bid near $56,750 and $56,500.<\/em><\/p>\n After surpassing the $57,000 resistance, bitcoin extended its rise<\/a>. BTC broke the $58,000 resistance level and settled nicely above the 100 hourly simple moving average.<\/p>\n It even surged towards the $58,500 level and traded to a new weekly high at $58,615. It is now correcting lower and trading below the $58,000 level. There was also a break below the 23.6% Fib retracement level of the upward wave<\/a> from the $54,950 swing low to $58,615 high.<\/p>\n It seems like there is a key bullish flag pattern forming with resistance near $57,700 on the hourly chart of the BTC\/USD pair. The channel support is near the $56,800 level.<\/p>\n <\/a><\/p>\n The 50% Fib retracement level of the upward wave from the $54,950 swing low to $58,615 high is also close to the channel support. On the upside, a clear break above the flag resistance near $57,700 could open the doors for a fresh increase.<\/p>\n The next key resistance is near the $58,500 level. A convincing break above the $58,500 resistance is likely to set the pace for a move towards the $60,000 level.<\/p>\n If bitcoin fails to climb above $57,700 and $58,000, there could be a downside correction. As stated, the $56,500 level is a decent support zone.<\/p>\n The next major support is near the $56,000 level and a connecting bullish trend line. Any more losses might call for a drop towards the $55,000 support zone in the near term.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is slowly losing momentum in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is approaching the 50 level.<\/p>\n Major Support Levels \u2013 $56,500, followed by $56,000.<\/p>\n Major Resistance Levels \u2013 $57,700, $58,500 and $60,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price extended its rise above the $58,000 resistance against the US Dollar. BTC is now correcting gains, with but it is likely to remain well bid near $56,750 and $56,500. Bitcoin gained pace above the $57,500 and $58,000 resistance levels before correcting lower. The price is now well above the $55,000 support and the 100 hourly simple moving average. There is a key bullish flag pattern forming with resistance near $57,700 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to find a strong buying interest near the $56,500 support zone in the near term. Bitcoin Price Eyes More Upsides 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 surged towards the $58,500 level and traded to a new weekly high at $58,615. It is now correcting lower and trading below the $58,000 level. There was also a break below the 23.6% Fib retracement level of the upward wave from the $54,950 swing low to $58,615 high. It seems like there is a key bullish flag pattern forming with resistance near $57,700 on the hourly chart of the BTC\/USD pair. The channel support is near the $56,800 level. Source: BTCUSD on TradingView.com The 50% Fib retracement level of the upward wave from the $54,950 swing low to $58,615 high is also close to the channel support. On the upside, a clear break above the flag resistance near $57,700 could open the doors for a fresh increase. The next key resistance is near the $58,500 level. A convincing break above the $58,500 resistance is likely to set the pace for a move towards the $60,000 level. Downward Move in BTC? If bitcoin fails to climb above $57,700 and $58,000, there could be a downside correction. As stated, the $56,500 level is a decent support zone. The next major support is near the $56,000 level and a connecting bullish trend line. Any more losses might call for a drop towards the $55,000 support zone in the near term. Technical indicators: Hourly MACD \u2013 The MACD is slowly losing momentum in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is approaching the 50 level. Major Support Levels \u2013 $56,500, followed by $56,000. Major Resistance Levels \u2013 $57,700, $58,500 and $60,000.<\/p>\n","protected":false},"author":67,"featured_media":459898,"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-459896","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n\n
Bitcoin Price Eyes More Upsides<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Downward Move in BTC?<\/h2>\n