Bitcoin Attempts Recovery, Why BTC Could Revisit $60K :
Bitcoin began a new increment above $57,000 against the US Dollar. BTC could expand recuperation and it may return to the $60,000 opposition in the close to term.
Bitcoin began a new increment over the $57,000 and $57,500 levels.
The cost is presently exchanging above $57,000 and the 100 hourly basic moving normal.
There was a break over a critical negative pattern line with opposition close $54,800 on the hourly outline of the BTC/USD pair (information feed from Kraken).
The pair should clear the $60,000 protection from proceed higher in the close to term.
Bitcoin Price is Back over 100 SMA
Bitcoin cost tracked down help close the $53,500 level and began a new increment. BTC broke the $55,000 opposition zone to begin a good recuperation wave.
There was a break over a critical negative pattern line with obstruction close $54,800 on the hourly outline of the BTC/USD pair. In addition, the pair outperformed the half Fib retracement level of the descending move from the $59,376 swing high to $53,576 swing low.
It is presently exchanging above $57,000 and the 100 hourly basic moving normal. A quick opposition on the potential gain is close the $58,000 level. It is close to the 76.4% Fib retracement level of the descending move from the $59,376 swing high to $53,576 swing low.
The following key opposition is close the $58,500 level. A nearby over the $58,000 and $58,500 levels may potentially push the cost towards $60,000. Assuming there is a nearby over the $60,000 level, the cost could speed up higher.
Source: BTCUSD on TradingView.com
The following significant obstruction sits close the $61,200 level. Additional increases could lead the cost towards the $62,000 level in the close to term.
New Decline In BTC?
If bitcoin neglects to clear the $58,000 obstruction zone, it could begin a new decrease. A quick help on the drawback is close the $57,200 level.
The principal significant help is currently framing close the $56,500 level. The following significant help is close the $56,000 level and the 100 hourly SMA, beneath which the cost could continue its decrease towards the $55,000 support. Additional misfortunes may perhaps push the cost towards $53,500.
Specialized markers:
Hourly MACD – The MACD is currently acquiring pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is as of now in the overbought zone.
Significant Support Levels – $57,000, trailed by $56,500.
Significant Resistance Levels – $58,000, $58,500 and $60,000.