{"id":477795,"date":"2021-12-01T03:08:04","date_gmt":"2021-12-01T03:08:04","guid":{"rendered":"https:\/\/wncen.com\/?p=477795"},"modified":"2024-06-11T12:01:49","modified_gmt":"2024-06-11T12:01:49","slug":"bitcoin-aims-fresh-run-to-60k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-aims-fresh-run-to-60k\/","title":{"rendered":"Bitcoin Aims Fresh Run To $60K, Why Bulls Could Face Hurdles"},"content":{"rendered":"
Bitcoin is trading above the $56,200 support against the US Dollar. BTC must clear $58,500 to start a major increase in the coming sessions.<\/em><\/p>\n Bitcoin price corrected lower below the $57,000 support level<\/a>. However, BTC remained stable above the $56,200 support level and the 100 hourly simple moving average.<\/p>\n The recent low was near $56,555 and the price is now moving higher. It broke the $57,000 resistance zone. There was a break above the 23.6% Fib retracement level of the recent decline from the $59,230 swing high to $56,555 low.<\/p>\n It is still trading above $57,000 and the 100 hourly simple moving average<\/a>. An immediate resistance on the upside is near the $57,850 level. It is near the 50% Fib retracement level of the recent decline from the $59,230 swing high to $56,555 low.<\/p>\n The first major resistance is near the $58,200 level. There is also a major contracting triangle forming with resistance near $58,200 on the hourly chart of the BTC\/USD pair.<\/p>\n <\/a><\/p>\n A clear break above the $58,200 resistance zone could open the doors for more upsides. The next key resistance is near the $58,500 level, above which the bulls could aim a test of $60,000. Any more gains might push the price towards $61,200.<\/p>\n If bitcoin fails to clear the $58,500 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $57,000 level.<\/p>\n The first major support is now forming near the $56,200 level and the 100 hourly SMA. A downside break below the $56,200 support may perhaps push the price towards $55,500. Any more losses might lead the price towards $55,000.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now losing pace in the bearish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently near the 50 level.<\/p>\n Major Support Levels \u2013 $57,000, followed by $56,200.<\/p>\n Major Resistance Levels \u2013 $58,000, $58,500 and $60,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin is trading above the $56,200 support against the US Dollar. BTC must clear $58,500 to start a major increase in the coming sessions. Bitcoin is struggling to gain pace above the $58,000 and $58,500 levels. The price is still trading above $57,000 and the 100 hourly simple moving average. There is a major contracting triangle forming with resistance near $58,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair must clear the $58,500 resistance to start a steady increase in the near term. Bitcoin Price is Showing Bullish Signs Bitcoin price corrected lower below the $57,000 support level. However, BTC remained stable above the $56,200 support level and the 100 hourly simple moving average. The recent low was near $56,555 and the price is now moving higher. It broke the $57,000 resistance zone. There was a break above the 23.6% Fib retracement level of the recent decline from the $59,230 swing high to $56,555 low. It is still trading above $57,000 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $57,850 level. It is near the 50% Fib retracement level of the recent decline from the $59,230 swing high to $56,555 low. The first major resistance is near the $58,200 level. There is also a major contracting triangle forming with resistance near $58,200 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com A clear break above the $58,200 resistance zone could open the doors for more upsides. The next key resistance is near the $58,500 level, above which the bulls could aim a test of $60,000. Any more gains might push the price towards $61,200. Fresh Drop In BTC? If bitcoin fails to clear the $58,500 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $57,000 level. The first major support is now forming near the $56,200 level and the 100 hourly SMA. A downside break below the $56,200 support may perhaps push the price towards $55,500. Any more losses might lead the price towards $55,000. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is currently near the 50 level. Major Support Levels \u2013 $57,000, followed by $56,200. Major Resistance Levels \u2013 $58,000, $58,500 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-477795","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 Showing Bullish Signs<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Fresh Drop In BTC?<\/h2>\n