{"id":473506,"date":"2021-10-12T03:08:45","date_gmt":"2021-10-12T03:08:45","guid":{"rendered":"https:\/\/ktsl888.com\/?p=473506"},"modified":"2024-06-11T13:59:22","modified_gmt":"2024-06-11T13:59:22","slug":"bitcoin-holds-strong-57k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-holds-strong-57k\/","title":{"rendered":"TA: Bitcoin Holds Strong, Here\u2019s Key Resistance Turned Support"},"content":{"rendered":"
Bitcoin extended its rally above the $57,000 against the US Dollar. BTC could continue to rise if it is above the $56,000 support zone.<\/em><\/p>\n Bitcoin price remained well supported above the $55,000 pivot level<\/a>. BTC gained pace and it was above to clear many hurdles near the $55,500 level.<\/p>\n There was also a break above a key declining channel with resistance near $55,400 on the hourly chart of the BTC\/USD pair. The pair climbed above the $56,000 resistance level and settled above the 100 hourly simple moving average<\/a>.<\/p>\n There was also a break above the $57,000 level and the price traded as high as $57,837. It is now correcting lower and trading below $57,500.<\/p>\n There was a break below the 23.6% Fib retracement level of the upward move from the $54,396 swing low to $57,837 high. On the downside, an initial support is near the $56,200 level. On the upside, the bulls are facing resistance is near the $57,000 level.<\/p>\n <\/a><\/p>\n The first key resistance is near the $57,500 level. A clear break above the $57,500 resistance could open the doors for a decent increase. The next major resistance sits near the $58,500 level. Any more gains could set the pace for a move towards the $59,200 level.<\/p>\n If bitcoin fails to clear the $57,500 resistance zone, it could correct lower. An immediate support on the downside is near the $56,200 level.<\/p>\n The first major support is snow forming near the $56,000 level. It is near the 50% Fib retracement level of the upward move from the $54,396 swing low to $57,837 high. A downside break below the $56,000 support zone could open the doors for a larger decline.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is slowly gaining pace in the bearish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now near the 50 level.<\/p>\n Major Support Levels \u2013 $56,200, followed by $56,000.<\/p>\n Major Resistance Levels \u2013 $57,000, $57,500 and $58,500.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin extended its rally above the $57,000 against the US Dollar. BTC could continue to rise if it is above the $56,000 support zone. Bitcoin is trading in a positive zone above the $56,000 support zone. The price is now trading above $56,000 and the 100 hourly simple moving average. There was a break above a key declining channel with resistance near $55,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is correcting gains, but the bulls could remain active near $56,000. Bitcoin Price Eyes More Upsides Bitcoin price remained well supported above the $55,000 pivot level. BTC gained pace and it was above to clear many hurdles near the $55,500 level. There was also a break above a key declining channel with resistance near $55,400 on the hourly chart of the BTC\/USD pair. The pair climbed above the $56,000 resistance level and settled above the 100 hourly simple moving average. There was also a break above the $57,000 level and the price traded as high as $57,837. It is now correcting lower and trading below $57,500. There was a break below the 23.6% Fib retracement level of the upward move from the $54,396 swing low to $57,837 high. On the downside, an initial support is near the $56,200 level. On the upside, the bulls are facing resistance is near the $57,000 level. Source: BTCUSD on TradingView.com The first key resistance is near the $57,500 level. A clear break above the $57,500 resistance could open the doors for a decent increase. The next major resistance sits near the $58,500 level. Any more gains could set the pace for a move towards the $59,200 level. Dips Supported In BTC? If bitcoin fails to clear the $57,500 resistance zone, it could correct lower. An immediate support on the downside is near the $56,200 level. The first major support is snow forming near the $56,000 level. It is near the 50% Fib retracement level of the upward move from the $54,396 swing low to $57,837 high. A downside break below the $56,000 support zone could open the doors for a larger decline. Technical indicators: Hourly MACD \u2013 The MACD is slowly gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now near the 50 level. Major Support Levels \u2013 $56,200, followed by $56,000. Major Resistance Levels \u2013 $57,000, $57,500 and $58,500.<\/p>\n","protected":false},"author":67,"featured_media":460738,"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-473506","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
Dips Supported In BTC?<\/h2>\n