{"id":473189,"date":"2021-10-07T03:08:58","date_gmt":"2021-10-07T03:08:58","guid":{"rendered":"https:\/\/wncen.com\/?p=473189"},"modified":"2024-06-11T11:11:54","modified_gmt":"2024-06-11T11:11:54","slug":"bitcoin-surge-to-60k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-surge-to-60k\/","title":{"rendered":"TA: Bitcoin Surge To $60K On The Horizon, As Bears Show Weak Hands"},"content":{"rendered":"
Bitcoin extended its rally above the $55,000 resistance against the US Dollar. BTC could correct lower, but the bulls might aim more gains towards $60K.<\/em><\/p>\n Bitcoin price started a strong increase<\/a> above the $50,000 resistance. BTC even broke the $52,000 resistance level and settled above the 100 hourly simple moving average.<\/p>\n The upward move was such that the price broke the $53,200 resistance. It even spiked above the $55,000 level. A high is formed near $55,770 and the price is now consolidating gains. An immediate support on the downside is near the $55,000 level.<\/p>\n It is close to the 23.6% Fib retracement level of the upward move from the $50,366 swing low to $55,777 high. There is also a connecting bullish trend line forming with support near $53,000 on the hourly chart of the BTC\/USD pair.<\/p>\n <\/a><\/p>\n On the upside, an initial resistance is near the $55,500 level. The first major resistance is near the $56,200 level, above which the price could accelerate higher. The next major resistance for the bulls may possibly be near the $58,000 level. Any more gains could set the pace for a move towards the $60,000 level.<\/p>\n If bitcoin fails to clear the $56,000 resistance zone, it could start a fresh downside correction. An immediate support on the downside is near the $55,000 level.<\/p>\n\n
Bitcoin Price Extends Rally<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Dips Limited In BTC?<\/h2>\n