{"id":477410,"date":"2021-11-26T03:08:38","date_gmt":"2021-11-26T03:08:38","guid":{"rendered":"https:\/\/ktsl888.com\/?p=477410"},"modified":"2024-06-11T14:09:18","modified_gmt":"2024-06-11T14:09:18","slug":"ta-bitcoin-regains-strength-why-100-sma-is-the-key-for-more-upsides","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ta-bitcoin-regains-strength-why-100-sma-is-the-key-for-more-upsides\/","title":{"rendered":"TA: Bitcoin Regains Strength, Why 100 SMA Is The Key For More Upsides"},"content":{"rendered":"
Bitcoin started a fresh increase above $58,000 against the US Dollar. BTC traded close to $60,000 and is currently correcting gains.<\/em><\/p>\n Bitcoin price was stable above the $57,000 level. BTC started a fresh increase and was able to clear the $58,000 resistance zone. There was also a break above the $58,500 level and the 100 hourly simple moving average<\/a>.<\/p>\n However, there was no test of the $60,000 resistance zone. A high was formed near $59,400 and the price is now correcting gains. There was a break below the $58,500 support level.<\/p>\n Besides, there was a break below a key bullish trend line with support near $58,550 on the hourly chart of the BTC\/USD pair. The pair traded below the 23.6% Fib retracement level of the upward move from the $55,909 swing low to $59,400 high.<\/p>\n An immediate support is near the $58,200 level. The first major support<\/a> is now forming near the $57,650 level. It is close to the 50% Fib retracement level of the upward move from the $55,909 swing low to $59,400 high.<\/p>\n <\/a><\/p>\n The next major support is near the $57,500 level and the 100 hourly SMA, below which the price could resume its decline towards the main breakdown support at $55,500.<\/p>\n If bitcoin stays above the $57,500 support and the 100 hourly SMA, it could start a fresh increase. On the upside, an initial resistance is near the $59,000 level.<\/p>\n The next key resistance is near the $59,500 level. A close above the $59,000 and $59,500 levels may possibly push the price above $60,000. The next major resistance sits near the $61,200 level.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is declining towards the 50 level.<\/p>\n Major Support Levels \u2013 $57,650, followed by $57,500.<\/p>\n Major Resistance Levels \u2013 $59,000, $59,500 and $60,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin started a fresh increase above $58,000 against the US Dollar. BTC traded close to $60,000 and is currently correcting gains. Bitcoin started a fresh increase above the $58,000 and $58,500 levels. The price is now trading above $58,000 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $58,550 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair must remain above $57,500 and the 100 hourly SMA to start another increase. Bitcoin Price is Back above 100 SMA Bitcoin price was stable above the $57,000 level. BTC started a fresh increase and was able to clear the $58,000 resistance zone. There was also a break above the $58,500 level and the 100 hourly simple moving average. However, there was no test of the $60,000 resistance zone. A high was formed near $59,400 and the price is now correcting gains. There was a break below the $58,500 support level. Besides, there was a break below a key bullish trend line with support near $58,550 on the hourly chart of the BTC\/USD pair. The pair traded below the 23.6% Fib retracement level of the upward move from the $55,909 swing low to $59,400 high. An immediate support is near the $58,200 level. The first major support is now forming near the $57,650 level. It is close to the 50% Fib retracement level of the upward move from the $55,909 swing low to $59,400 high. Source: BTCUSD on TradingView.com The next major support is near the $57,500 level and the 100 hourly SMA, below which the price could resume its decline towards the main breakdown support at $55,500. Fresh Increase In BTC? If bitcoin stays above the $57,500 support and the 100 hourly SMA, it could start a fresh increase. On the upside, an initial resistance is near the $59,000 level. The next key resistance is near the $59,500 level. A close above the $59,000 and $59,500 levels may possibly push the price above $60,000. The next major resistance sits near the $61,200 level. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is declining towards the 50 level. Major Support Levels \u2013 $57,650, followed by $57,500. Major Resistance Levels \u2013 $59,000, $59,500 and $60,000.<\/p>\n","protected":false},"author":67,"featured_media":460413,"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-477410","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 is Back above 100 SMA<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Fresh Increase In BTC?<\/h2>\n