{"id":460509,"date":"2021-04-06T03:08:17","date_gmt":"2021-04-06T03:08:17","guid":{"rendered":"https:\/\/wncen.com\/?p=460509"},"modified":"2024-06-11T14:14:35","modified_gmt":"2024-06-11T14:14:35","slug":"bitcoin-settles-above-100-sma","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-settles-above-100-sma\/","title":{"rendered":"TA: Bitcoin Settles Above 100 SMA, Why BTC Could Retest $60K"},"content":{"rendered":"
Bitcoin price started a fresh increase and it cleared the $58,250 resistance against the US Dollar. BTC is now showing positive signs and it might soon revisit $60,000.<\/em><\/p>\n Bitcoin formed a support base above the $57,000 level and recently started a fresh increase<\/a>. BTC broke a couple of key hurdles near $57,500 and $58,250 to move into a positive zone.<\/p>\n There was a break above the $58,500 resistance zone and the 100 hourly simple moving average. Moreover, there was a break above a major bearish trend line with resistance near $58,650 on the hourly chart of the BTC\/USD pair.<\/p>\n The pair settled nicely above the $58,250 level and the 100 hourly SMA<\/a>. It traded as high as $59,467 and it is currently consolidating gains. It is trading just below the 23.6% Fib retracement level of the recent wave from the $56,810 low to $59,467 high.<\/p>\n <\/a><\/p>\n An initial support is near the $58,500 level and the 100 hourly simple moving average. An immediate resistance is near the $59,000 level, followed by the $59,467 high.<\/p>\n The main resistance is still near the $60,000 level. If there is an upside break above $60,000, there are chances of a steady increase towards the $62,000 zone in the near term.<\/p>\n If bitcoin fails to climb above $59,000 and $59,500, there could be a downside correction. The first major support on the downside is near the $58,500 level and the 100 hourly SMA.<\/p>\n The next major support is near the $58,250 level (the recent breakout zone). It is close to the 50% Fib retracement level of the recent wave from the $56,810 low to $59,467 high. Any more losses might lead the price towards the $57,500 support zone 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 now above the 50 level.<\/p>\n Major Support Levels \u2013 $58,500, followed by $58,250.<\/p>\n Major Resistance Levels \u2013 $59,000, $59,500 and $60,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price started a fresh increase and it cleared the $58,250 resistance against the US Dollar. BTC is now showing positive signs and it might soon revisit $60,000. Bitcoin started a fresh increase above the $58,000 and $58,250 resistance levels. The price is now trading nicely above $58,250 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $58,650 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is now consolidating above the 100 hourly SMA and it might continue higher towards $60,000. Bitcoin Price Breaks Key Resistance Bitcoin formed a support base above the $57,000 level and recently started a fresh increase. BTC broke a couple of key hurdles near $57,500 and $58,250 to move into a positive zone. There was a break above the $58,500 resistance zone and the 100 hourly simple moving average. Moreover, there was a break above a major bearish trend line with resistance near $58,650 on the hourly chart of the BTC\/USD pair. The pair settled nicely above the $58,250 level and the 100 hourly SMA. It traded as high as $59,467 and it is currently consolidating gains. It is trading just below the 23.6% Fib retracement level of the recent wave from the $56,810 low to $59,467 high. Source: BTCUSD on TradingView.com An initial support is near the $58,500 level and the 100 hourly simple moving average. An immediate resistance is near the $59,000 level, followed by the $59,467 high. The main resistance is still near the $60,000 level. If there is an upside break above $60,000, there are chances of a steady increase towards the $62,000 zone in the near term. Dips Limited in BTC? If bitcoin fails to climb above $59,000 and $59,500, there could be a downside correction. The first major support on the downside is near the $58,500 level and the 100 hourly SMA. The next major support is near the $58,250 level (the recent breakout zone). It is close to the 50% Fib retracement level of the recent wave from the $56,810 low to $59,467 high. Any more losses might lead the price towards the $57,500 support zone 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 now above the 50 level. Major Support Levels \u2013 $58,500, followed by $58,250. Major Resistance Levels \u2013 $59,000, $59,500 and $60,000.<\/p>\n","protected":false},"author":67,"featured_media":460511,"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-460509","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 Breaks Key Resistance<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Dips Limited in BTC?<\/h2>\n