{"id":477567,"date":"2021-11-29T03:08:41","date_gmt":"2021-11-29T03:08:41","guid":{"rendered":"https:\/\/wncen.com\/?p=477567"},"modified":"2024-06-11T14:09:20","modified_gmt":"2024-06-11T14:09:20","slug":"bitcoin-attempts-recovery-60k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-attempts-recovery-60k\/","title":{"rendered":"TA: Bitcoin Attempts Recovery, Why BTC Could Revisit $60K"},"content":{"rendered":"
Bitcoin started a fresh increase above $57,000 against the US Dollar. BTC could extend recovery and it might revisit the $60,000 resistance in the near term.<\/em><\/p>\n Bitcoin price found support near the $53,500 level and started a fresh increase. BTC broke the $55,000 resistance zone to start a decent recovery wave<\/a>.<\/p>\n There was a break above a key bearish trend line with resistance near $54,800 on the hourly chart of the BTC\/USD pair. Besides, the pair surpassed the 50% Fib retracement level of the downward move from the $59,376 swing high to $53,576 swing low.<\/p>\n It is now trading above $57,000 and the 100 hourly simple moving average<\/a>. An immediate resistance on the upside is near the $58,000 level. It is near the 76.4% Fib retracement level of the downward move from the $59,376 swing high to $53,576 swing low.<\/p>\n The next key resistance is near the $58,500 level. A close above the $58,000 and $58,500 levels may possibly push the price towards $60,000. If there is a close above the $60,000 level, the price could accelerate higher.<\/p>\n <\/a><\/p>\n The next major resistance sits near the $61,200 level. Any more gains could lead the price towards the $62,000 level in the near term.<\/p>\n If bitcoin fails to clear the $58,000 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $57,200 level.<\/p>\n The first major support is now forming near the $56,500 level. The next major support is near the $56,000 level and the 100 hourly SMA, below which the price could resume its decline towards the $55,000 support. Any more losses may possibly push the price towards $53,500.<\/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 currently in the overbought zone.<\/p>\n Major Support Levels \u2013 $57,000, followed by $56,500.<\/p>\n Major Resistance Levels \u2013 $58,000, $58,500 and $60,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin started a fresh increase above $57,000 against the US Dollar. BTC could extend recovery and it might revisit the $60,000 resistance in the near term. Bitcoin started a fresh increase above the $57,000 and $57,500 levels. The price is now trading above $57,000 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $54,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair must clear the $60,000 resistance to continue higher in the near term. Bitcoin Price is Back above 100 SMA Bitcoin price found support near the $53,500 level and started a fresh increase. BTC broke the $55,000 resistance zone to start a decent recovery wave. There was a break above a key bearish trend line with resistance near $54,800 on the hourly chart of the BTC\/USD pair. Besides, the pair surpassed the 50% Fib retracement level of the downward move from the $59,376 swing high to $53,576 swing low. It is now trading above $57,000 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $58,000 level. It is near the 76.4% Fib retracement level of the downward move from the $59,376 swing high to $53,576 swing low. The next key resistance is near the $58,500 level. A close above the $58,000 and $58,500 levels may possibly push the price towards $60,000. If there is a close above the $60,000 level, the price could accelerate higher. Source: BTCUSD on TradingView.com The next major resistance sits near the $61,200 level. Any more gains could lead the price towards the $62,000 level in the near term. Fresh Decline In BTC? If bitcoin fails to clear the $58,000 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $57,200 level. The first major support is now forming near the $56,500 level. The next major support is near the $56,000 level and the 100 hourly SMA, below which the price could resume its decline towards the $55,000 support. Any more losses may possibly push the price towards $53,500. 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 currently in the overbought zone. Major Support Levels \u2013 $57,000, followed by $56,500. Major Resistance Levels \u2013 $58,000, $58,500 and $60,000.<\/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-477567","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 Back above 100 SMA<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Fresh Decline In BTC?<\/h2>\n