{"id":458531,"date":"2021-03-12T03:08:35","date_gmt":"2021-03-12T03:08:35","guid":{"rendered":"https:\/\/ktsl888.com\/?p=458531"},"modified":"2024-06-11T14:13:55","modified_gmt":"2024-06-11T14:13:55","slug":"bitcoin-btc-could-accelerate-towards-60k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-btc-could-accelerate-towards-60k\/","title":{"rendered":"TA: Bitcoin Revisits $58K, Why BTC Could Accelerate Towards $60K"},"content":{"rendered":"
Bitcoin price extended its rise and it even tested the $58,000 resistance against the US Dollar. BTC is showing positive signs and it is likely to accelerate higher above $60,000.<\/em><\/p>\n After a close above the $55,000 resistance<\/a>, bitcoin extended its rise above $56,000. BTC settled nicely above the $55,000 level and the 100 hourly simple moving average.<\/p>\n It opened the doors for a push above the $57,000 and $57,500 resistance levels. The price even spiked above the $58,000 resistance and traded to a new monthly high at $58,140. It is now correcting lower and trading below the $58,000 level.<\/p>\n There was a break below the 23.6% Fib retracement level of the recent increase<\/a> from the $54,318 swing low to $58,140 high. On the downside, there are two bullish trend lines forming with support near $55,650 and $55,000 on the hourly chart of the BTC\/USD pair.<\/p>\n <\/a><\/p>\n On the upside, the price is likely to face sellers near the $58,000 zone. A clear close above the $58,000 resistance will most likely start a strong increase. The next target for the bulls could be $60,000 in the near term. Any more gains could lead the price towards the $62,000 level.<\/p>\n If bitcoin fails to clear the $58,000 resistance, it could correct lower. The first key support is near the $56,200 level. It is close to the 50% Fib retracement level of the recent increase from the $54,318 swing low to $58,140 high.<\/p>\n The main support is near the trend line and $55,500. Any more losses might call for a test of the $55,000 support level. If the bulls fail to defend the $55,000 support zone, the price is likely to dive towards the $52,000 support in the coming sessions.<\/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 declining towards the 50 level.<\/p>\n Major Support Levels \u2013 $55,650, followed by $55,000.<\/p>\n Major Resistance Levels \u2013 $58,000, $58,500 and $60,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price extended its rise and it even tested the $58,000 resistance against the US Dollar. BTC is showing positive signs and it is likely to accelerate higher above $60,000. Bitcoin remains in a bullish zone and it even climbed above the $58,000 resistance. The price is now trading well above $56,000 and the 100 hourly simple moving average. There are two bullish trend lines forming with support near $55,650 and $55,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could correct lower, but the bulls are likely to remain active above $55,000. Bitcoin Price is Gaining Momentum After a close above the $55,000 resistance, bitcoin extended its rise above $56,000. BTC settled nicely above the $55,000 level and the 100 hourly simple moving average. It opened the doors for a push above the $57,000 and $57,500 resistance levels. The price even spiked above the $58,000 resistance and traded to a new monthly high at $58,140. It is now correcting lower and trading below the $58,000 level. There was a break below the 23.6% Fib retracement level of the recent increase from the $54,318 swing low to $58,140 high. On the downside, there are two bullish trend lines forming with support near $55,650 and $55,000 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com On the upside, the price is likely to face sellers near the $58,000 zone. A clear close above the $58,000 resistance will most likely start a strong increase. The next target for the bulls could be $60,000 in the near term. Any more gains could lead the price towards the $62,000 level. Dips Supported in BTC? If bitcoin fails to clear the $58,000 resistance, it could correct lower. The first key support is near the $56,200 level. It is close to the 50% Fib retracement level of the recent increase from the $54,318 swing low to $58,140 high. The main support is near the trend line and $55,500. Any more losses might call for a test of the $55,000 support level. If the bulls fail to defend the $55,000 support zone, the price is likely to dive towards the $52,000 support in the coming sessions. 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 declining towards the 50 level. Major Support Levels \u2013 $55,650, followed by $55,000. Major Resistance Levels \u2013 $58,000, $58,500 and $60,000.<\/p>\n","protected":false},"author":67,"featured_media":458533,"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-458531","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 Gaining Momentum<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Dips Supported in BTC?<\/h2>\n