Bitcoin value is displaying constructive indicators above $55,000 in opposition to the US Greenback. BTC is more likely to surpass $58,000 and commerce to a brand new all-time excessive within the close to time period.
- Bitcoin climbed additional above the $55,500 and $57,000 resistance ranges.
- The worth is now consolidating above $55,000 and it’s properly above the 100 hourly easy shifting common.
- There’s a main bullish pattern line forming with help close to $55,150 on the hourly chart of the BTC/USD pair (information feed from Kraken).
- The pair is more likely to speed up greater above $57,500 and $58,000 within the coming classes.
Bitcoin Value is Displaying Constructive Indicators
There was a gentle rise in bitcoin above the $55,000 resistance zone. BTC climbed above the $56,000 stage and it settled properly above the 100 hourly easy shifting common.
The bulls even pushed the worth above the $57,000 resistance. A excessive is shaped close to $57,367 and the worth is at present correcting decrease. It traded beneath the 23.6% Fib retracement stage of the upward transfer from the $53,002 low to $57,367 excessive.
Bitcoin is testing the $55,500 help stage and it’s nonetheless properly above the 100 hourly easy shifting common. The following main help is close to the $52,150 stage. There may be additionally a serious bullish pattern line forming with help close to $55,150 on the hourly chart of the BTC/USD pair.
Supply: BTCUSD on TradingView.com
The pattern line is near the 50% Fib retracement stage of the upward transfer from the $53,002 low to $57,367 excessive. On the upside, the $56,500 stage is a short-term hurdle. There may be additionally a connecting bearish pattern line at $56,500 on the identical chart.
A transparent break above the pattern line resistance and $57,500 might open the doorways for a transfer in direction of the $58,000 stage. The following purpose for the bulls might be a brand new all-time excessive and even $60,000.
Dips Supported in BTC?
If bitcoin fails to clear the $57,500 resistance, it might appropriate additional decrease. The primary key help is close to the pattern line and $55,150.
If there’s a draw back break beneath the pattern line help, there are probabilities of a transfer in direction of the $54,000 help. There may be one other pattern line forming with help close to $54,000 on the identical chart.
Hourly MACD – The MACD is slowly shedding momentum within the bearish zone.
Hourly RSI (Relative Power Index) – The RSI for BTC/USD remains to be above the 50 stage.
Main Assist Ranges – $55,150, adopted by $54,000.
Main Resistance Ranges – $57,500, $58,000 and $60,000.