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{"id":462412,"date":"2021-04-27T02:58:36","date_gmt":"2021-04-27T02:58:36","guid":{"rendered":"https:\/\/wncen.com\/?p=462412"},"modified":"2024-06-11T13:55:17","modified_gmt":"2024-06-11T13:55:17","slug":"bitcoin-price-breaks-hurdle-58k-next","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-breaks-hurdle-58k-next\/","title":{"rendered":"TA: Bitcoin Price Breaks Hurdle, Here\u2019s Why Bulls Could Aim $58K"},"content":{"rendered":"

Bitcoin price gained pace and it cleared the $53,000 resistance zone against the US Dollar. BTC is consolidating and it seems ready for more gains above $54,000.<\/em><\/p>\n

\n
Bitcoin remained well bid and it was able to clear the $53,000 resistance.<\/li>\n
The price is now trading well above $52,000 and the 100 hourly simple moving average.<\/li>\n
There is a key contracting triangle forming with resistance near $54,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair is likely to continue higher above the $54,000 and $54,500 resistance levels.<\/li>\n<\/ul>\n
Bitcoin Price is Gaining Pace<\/h2>\n
Bitcoin remained well supported above the $51,000 level and it managed to extend gains. BTC gained bullish momentum above the $52,000 resistance and the 100 hourly simple moving average.<\/p>\n
It even cleared the $53,000 and $53,500 resistance levels<\/a>. A high is formed near $54,455 and the price is now consolidating gains. It already tested the $53,000 support level. The 23.6% Fib retracement level of the recent wave from the $47,010 swing low to $54,455 high is acting as a support.<\/p>\n
It seems like there is a key contracting triangle forming with resistance near $54,000 on the hourly chart of the BTC\/USD pair. The pair is now trading well above $52,000 and the 100 hourly simple moving average.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
If there is a clear break above the $54,000 resistance zone, the price is likely to accelerate higher. The next key resistance is near the $54,500 level, above which the doors could open for a run up towards the $58,000 barrier in the near term.<\/p>\n
Dips Limited in BTC?<\/h2>\n
If bitcoin fails to clear the $54,500 and $55,000 resistance levels, it could start a downside correction. An immediate support on the downside is near the $53,000 level.<\/p>\n
The first key support is near the $51,250 level. The 50% Fib retracement level of the recent wave from the $47,010 swing low to $54,455 high is also near the $50,700 level to act as a support. Moreover, the 100 hourly simple moving average<\/a> is at $50,500 to act as a strong support in the near term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is slowly gaining pace in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well above the 55 level.<\/p>\n
Major Support Levels \u2013 $53,000, followed by $51,250.<\/p>\n
Major Resistance Levels \u2013 $54,500, $55,000 and $58,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price gained pace and it cleared the $53,000 resistance zone against the US Dollar. BTC is consolidating and it seems ready for more gains above $54,000. Bitcoin remained well bid and it was able to clear the $53,000 resistance. The price is now trading well above $52,000 and the 100 hourly simple moving average. There is a key contracting triangle forming with resistance near $54,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to continue higher above the $54,000 and $54,500 resistance levels. Bitcoin Price is Gaining Pace Bitcoin remained well supported above the $51,000 level and it managed to extend gains. BTC gained bullish momentum above the $52,000 resistance and the 100 hourly simple moving average. It even cleared the $53,000 and $53,500 resistance levels. A high is formed near $54,455 and the price is now consolidating gains. It already tested the $53,000 support level. The 23.6% Fib retracement level of the recent wave from the $47,010 swing low to $54,455 high is acting as a support. It seems like there is a key contracting triangle forming with resistance near $54,000 on the hourly chart of the BTC\/USD pair. The pair is now trading well above $52,000 and the 100 hourly simple moving average. Source: BTCUSD on TradingView.com If there is a clear break above the $54,000 resistance zone, the price is likely to accelerate higher. The next key resistance is near the $54,500 level, above which the doors could open for a run up towards the $58,000 barrier in the near term. Dips Limited in BTC? If bitcoin fails to clear the $54,500 and $55,000 resistance levels, it could start a downside correction. An immediate support on the downside is near the $53,000 level. The first key support is near the $51,250 level. The 50% Fib retracement level of the recent wave from the $47,010 swing low to $54,455 high is also near the $50,700 level to act as a support. Moreover, the 100 hourly simple moving average is at $50,500 to act as a strong support in the near term. Technical indicators: Hourly MACD \u2013 The MACD is slowly gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well above the 55 level. Major Support Levels \u2013 $53,000, followed by $51,250. Major Resistance Levels \u2013 $54,500, $55,000 and $58,000.<\/p>\n","protected":false},"author":67,"featured_media":462414,"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-462412","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nTA: Bitcoin Price Breaks Hurdle, Here\u2019s Why Bulls Could Aim $58K<\/title>\n<meta name=\"description\" content=\"Bitcoin price gained pace and it cleared the $53,000 resistance zone against the US Dollar. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/wncen.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"TA: Bitcoin Price Breaks Hurdle, Here\u2019s Why Bulls Could Aim $58K","url":"http:\/\/wncen.com\/news\/bitcoin-price-breaks-hurdle-58k-next\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-breaks-hurdle-58k-next\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/shutterstock_756345946.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/shutterstock_756345946.jpg?fit=1000%2C562"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btcusd","btcusdt","xbtusd"],"dateCreated":"2021-04-27T02:58:36Z","datePublished":"2021-04-27T02:58:36Z","dateModified":"2024-06-11T13:55:17Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Price Breaks Hurdle, Here\\u2019s Why Bulls Could Aim $58K\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-breaks-hurdle-58k-next\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-breaks-hurdle-58k-next\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_756345946.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_756345946.jpg?fit=1000%2C562\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2021-04-27T02:58:36Z\",\"datePublished\":\"2021-04-27T02:58:36Z\",\"dateModified\":\"2024-06-11T13:55:17Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/shutterstock_756345946.jpg?fit=1000%2C562","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/462412"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=462412"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/462412\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/462414"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=462412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=462412"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=462412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}

Dips Limited in BTC?<\/h2>\nIf bitcoin fails to clear the $54,500 and $55,000 resistance levels, it could start a downside correction. An immediate support on the downside is near the $53,000 level.<\/p>\n