{"id":460126,"date":"2021-04-01T03:08:09","date_gmt":"2021-04-01T03:08:09","guid":{"rendered":"https:\/\/wncen.com\/?p=460126"},"modified":"2024-06-11T14:14:27","modified_gmt":"2024-06-11T14:14:27","slug":"bitcoin-could-surge-above-60k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-could-surge-above-60k\/","title":{"rendered":"TA: Why Bitcoin Breaking This Resistance Could Spark a Significant Surge"},"content":{"rendered":"
Bitcoin price is trading in a bullish zone above $57,600 against the US Dollar. BTC is likely to accelerate higher once it clears the $59,800 and $60,000 resistance levels.<\/em><\/p>\n Bitcoin mostly traded in a positive zone<\/a> above the $57,000 pivot level. BTC extended its upward move above the $59,500 resistance level and it settled nicely above the 100 hourly simple moving average.<\/p>\n However, the bulls faced a strong resistance near the $59,800 and $60,000 resistance levels<\/a>. A high was formed near $59,829 before there was a downside correction. The price declined below the $59,000 and $58,000 levels.<\/p>\n There was also a spike below the $57,500 level, but the bulls protected the 100 hourly simple moving average. A low is formed near the $56,800 level and the price is now back above $58,000. The bulls pushed bitcoin above the 50% Fib retracement level of the downward move from the $59,829 high to $56,800 low.<\/p>\n <\/a><\/p>\n It is currently trading well above the $58,000 support and the 100 hourly simple moving average. There is also a major bullish trend line forming with support near $57,800 on the hourly chart of the BTC\/USD pair.<\/p>\n Bitcoin seems to be consolidating just above the 76.4% Fib retracement level of the downward move from the $59,829 high to $56,800 low. The key hurdle is near the $59,800 and $60,000 levels. A successful close above the $60,000 level will most likely pump the price towards the $62,000 level in the coming sessions.<\/p>\n If bitcoin fails to climb above $59,800 and $60,000, there could be a downside correction. The first major support on the downside is near the $58,400 level.<\/p>\n The next major support is near the $58,000 level, the 100 hourly SMA, and the trend line. If there is a downside break below the trend line, the price could revisit $56,800.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now gaining momentum in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is well above the 50 level.<\/p>\n Major Support Levels \u2013 $58,500, followed by $58,000.<\/p>\n Major Resistance Levels \u2013 $59,800, $60,000 and $60,800.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price is trading in a bullish zone above $57,600 against the US Dollar. BTC is likely to accelerate higher once it clears the $59,800 and $60,000 resistance levels. Bitcoin is trading in a positive zone, but it is facing hurdles near $60,000. The price is now well above the $58,000 support and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $57,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a sharp rally if it clears the $59,800 and $60,000 resistance levels. Bitcoin Price is Showing Positive Signs Bitcoin mostly traded in a positive zone above the $57,000 pivot level. BTC extended its upward move above the $59,500 resistance level and it settled nicely above the 100 hourly simple moving average. However, the bulls faced a strong resistance near the $59,800 and $60,000 resistance levels. A high was formed near $59,829 before there was a downside correction. The price declined below the $59,000 and $58,000 levels. There was also a spike below the $57,500 level, but the bulls protected the 100 hourly simple moving average. A low is formed near the $56,800 level and the price is now back above $58,000. The bulls pushed bitcoin above the 50% Fib retracement level of the downward move from the $59,829 high to $56,800 low. Source: BTCUSD on TradingView.com It is currently trading well above the $58,000 support and the 100 hourly simple moving average. There is also a major bullish trend line forming with support near $57,800 on the hourly chart of the BTC\/USD pair. Bitcoin seems to be consolidating just above the 76.4% Fib retracement level of the downward move from the $59,829 high to $56,800 low. The key hurdle is near the $59,800 and $60,000 levels. A successful close above the $60,000 level will most likely pump the price towards the $62,000 level in the coming sessions. Dips Supported in BTC? If bitcoin fails to climb above $59,800 and $60,000, there could be a downside correction. The first major support on the downside is near the $58,400 level. The next major support is near the $58,000 level, the 100 hourly SMA, and the trend line. If there is a downside break below the trend line, the price could revisit $56,800. Technical indicators: Hourly MACD \u2013 The MACD is now gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is well above the 50 level. Major Support Levels \u2013 $58,500, followed by $58,000. Major Resistance Levels \u2013 $59,800, $60,000 and $60,800.<\/p>\n","protected":false},"author":67,"featured_media":460128,"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-460126","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 Showing Positive Signs<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Dips Supported in BTC?<\/h2>\n