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{"id":473795,"date":"2021-10-15T03:28:12","date_gmt":"2021-10-15T03:28:12","guid":{"rendered":"https:\/\/wncen.com\/?p=473795"},"modified":"2024-06-11T13:59:30","modified_gmt":"2024-06-11T13:59:30","slug":"bitcoin-upside-continuation-to-62k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-upside-continuation-to-62k\/","title":{"rendered":"TA: Bitcoin Key Indicators Suggest Upside Continuation To $62K"},"content":{"rendered":"

Bitcoin is showing positive signs above the $57,000 level against the US Dollar. BTC could gain pace and it might even test the $60,000 resistance zone.<\/em><\/p>\n

\n
Bitcoin started a fresh increase and it broke the $58,500 level.<\/li>\n
The price is now trading above $58,000 and the 100 hourly simple moving average.<\/li>\n
There was a break above a key declining channel with resistance near $58,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could continue higher towards the $60,000 level in the near term.<\/li>\n<\/ul>\n
Bitcoin Price Remains In Uptrend<\/h2>\n
Bitcoin price corrected a few points below the $58,000 level. However, downsides were limited below $57,000 and BTC started a fresh increase.<\/p>\n
The price traded as low as $56,888 and started a fresh increase<\/a>. It surpassed the $57,500 and $58,000 resistance levels. There was a break above a key declining channel with resistance near $58,000 on the hourly chart of the BTC\/USD pair.<\/p>\n
The pair is now trading above $58,000 and the 100 hourly simple moving average<\/a>. It is now trading near the $59,000 zone. Besides, the price is testing the 1.236 Fib extension level of the downside correction from the $58,580 swing high to $56,888 low.<\/p>\n
On the upside, an initial resistance is near the $59,500 level. The first key resistance is near the $59,650 level. It is near the 1.618 Fib extension level of the downside correction from the $58,580 swing high to $56,888 low.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
A clear break above the $59,650 resistance could open the doors for more upsides. The next major resistance sits near the $60,000 level, above which the price might surge towards the $62,000 level in the near term.<\/p>\n
Dips Limited In BTC?<\/h2>\n
If bitcoin fails to clear the $59,500 resistance zone, it could start a downside correction. An immediate support on the downside is near the $58,200 level.<\/p>\n
The first major support is now forming near the $58,000 level (the recent breakout zone). A downside break below the $58,000 level could spark a larger decline. The next major support is now near the $56,800 level and the 100 hourly SMA.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 60 level.<\/p>\n
Major Support Levels \u2013 $58,200, followed by $58,000.<\/p>\n
Major Resistance Levels \u2013 $59,650, $60,000 and $62,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin is showing positive signs above the $57,000 level against the US Dollar. BTC could gain pace and it might even test the $60,000 resistance zone. Bitcoin started a fresh increase and it broke the $58,500 level. The price is now trading above $58,000 and the 100 hourly simple moving average. There was a break above a key declining channel with resistance near $58,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could continue higher towards the $60,000 level in the near term. Bitcoin Price Remains In Uptrend Bitcoin price corrected a few points below the $58,000 level. However, downsides were limited below $57,000 and BTC started a fresh increase. The price traded as low as $56,888 and started a fresh increase. It surpassed the $57,500 and $58,000 resistance levels. There was a break above a key declining channel with resistance near $58,000 on the hourly chart of the BTC\/USD pair. The pair is now trading above $58,000 and the 100 hourly simple moving average. It is now trading near the $59,000 zone. Besides, the price is testing the 1.236 Fib extension level of the downside correction from the $58,580 swing high to $56,888 low. On the upside, an initial resistance is near the $59,500 level. The first key resistance is near the $59,650 level. It is near the 1.618 Fib extension level of the downside correction from the $58,580 swing high to $56,888 low. Source: BTCUSD on TradingView.com A clear break above the $59,650 resistance could open the doors for more upsides. The next major resistance sits near the $60,000 level, above which the price might surge towards the $62,000 level in the near term. Dips Limited In BTC? If bitcoin fails to clear the $59,500 resistance zone, it could start a downside correction. An immediate support on the downside is near the $58,200 level. The first major support is now forming near the $58,000 level (the recent breakout zone). A downside break below the $58,000 level could spark a larger decline. The next major support is now near the $56,800 level and the 100 hourly SMA. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 60 level. Major Support Levels \u2013 $58,200, followed by $58,000. Major Resistance Levels \u2013 $59,650, $60,000 and $62,000.<\/p>\n","protected":false},"author":67,"featured_media":459593,"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-473795","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 Key Indicators Suggest Upside Continuation To $62K<\/title>\n<meta name=\"description\" content=\"Bitcoin is showing positive signs above the $57,000 level 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 Key Indicators Suggest Upside Continuation To $62K","url":"http:\/\/wncen.com\/news\/bitcoin-upside-continuation-to-62k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-upside-continuation-to-62k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_555674926.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_555674926.jpg?fit=1000%2C680"},"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":"2021-10-15T03:28:12Z","datePublished":"2021-10-15T03:28:12Z","dateModified":"2024-06-11T13:59:30Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Key Indicators Suggest Upside Continuation To $62K\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-upside-continuation-to-62k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-upside-continuation-to-62k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_555674926.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_555674926.jpg?fit=1000%2C680\"},\"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\":\"2021-10-15T03:28:12Z\",\"datePublished\":\"2021-10-15T03:28:12Z\",\"dateModified\":\"2024-06-11T13:59:30Z\"}<\/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\/03\/shutterstock_555674926.jpg?fit=1000%2C680","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/473795","targetHints":{"allow":["GET"]}}],"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=473795"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/473795\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/459593"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=473795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=473795"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=473795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}