BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\nA clear move above the $58,000 resistance might send the price further higher in the coming sessions. The next key resistance could be $58,500. A close above the $58,500 resistance might spark more upsides. In the stated case, the price could rise and test the $60,000 resistance.<\/p>\n
Another Decline In BTC?<\/h2>\n If Bitcoin fails to rise above the $58,000 resistance zone, it could start another decline. Immediate support on the downside is near the $56,750 level.<\/p>\n
The first major support is $55,500 or the 50% Fib retracement level of the upward move from the $52,569 swing low to the $58,050 high. The next support is now near the $53,500 zone. Any more losses might send the price toward the $52,600 support in the near term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n
Major Support Levels \u2013 $56,750, followed by $55,500.<\/p>\n
Major Resistance Levels \u2013 $57,500, and $58,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price started a decent increase above the $55,500 resistance. BTC is consolidating and might aim for more gains if it clears the $58,000 resistance. Bitcoin is rising from the $52,500 support zone. The price is trading above $55,500 and the 100 hourly Simple moving average. There was a break above a key bearish trend line with resistance at $55,300 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is facing resistance near the $58,000 and $58,200 resistance levels in the near term. Bitcoin Price Starts Recovery Bitcoin price started a decent increase after it broke the $55,500 resistance zone. BTC gained pace and was able to clear the $56,200 resistance. There was a break above a key bearish trend line with resistance at $55,300 on the hourly chart of the BTC\/USD pair. The pair even spiked above the $58,000 resistance zone. A high was formed at $58,050 and the price is now consolidating gains. There was a minor decline below the $57,500 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $52,569 swing low to the $58,050 high. Bitcoin is now trading above $55,500 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $57,500 level. The first key resistance is near the $58,000 level. A clear move above the $58,000 resistance might send the price further higher in the coming sessions. The next key resistance could be $58,500. A close above the $58,500 resistance might spark more upsides. In the stated case, the price could rise and test the $60,000 resistance. Another Decline In BTC? If Bitcoin fails to rise above the $58,000 resistance zone, it could start another decline. Immediate support on the downside is near the $56,750 level. The first major support is $55,500 or the 50% Fib retracement level of the upward move from the $52,569 swing low to the $58,050 high. The next support is now near the $53,500 zone. Any more losses might send the price toward the $52,600 support in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $56,750, followed by $55,500. Major Resistance Levels \u2013 $57,500, and $58,000.<\/p>\n","protected":false},"author":67,"featured_media":640856,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83361],"tags":[428,679,1144,78790,76835],"class_list":["post-640854","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-btc","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n
Bitcoin Price Could Extend Gains: Will Bulls Stay in Control?<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n