{"id":458431,"date":"2021-03-11T03:08:37","date_gmt":"2021-03-11T03:08:37","guid":{"rendered":"https:\/\/uniquehot.com\/?p=458431"},"modified":"2024-06-11T14:13:53","modified_gmt":"2024-06-11T14:13:53","slug":"bitcoin-gains-bullish-momentum-57k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-gains-bullish-momentum-57k\/","title":{"rendered":"TA: Bitcoin Gains Bullish Momentum, Why BTC Could Hit New ATH"},"content":{"rendered":"
Bitcoin price is showing positive signs above $55,000 against the US Dollar. BTC is likely to surpass $58,000 and trade to a new all-time high in the near term.<\/em><\/p>\n There was a steady rise in bitcoin above the $55,000 resistance zone<\/a>. BTC climbed above the $56,000 level and it settled well above the 100 hourly simple moving average.<\/p>\n The bulls even pushed the price above the $57,000 resistance. A high is formed near $57,367 and the price is currently correcting lower. It traded below the 23.6% Fib retracement level of the upward move from the $53,002 low to $57,367 high.<\/p>\n Bitcoin is testing the $55,500 support level and it is still well above the 100 hourly simple moving average<\/a>. The next major support is near the $52,150 level. There is also a major bullish trend line forming with support near $55,150 on the hourly chart of the BTC\/USD pair.<\/p>\n <\/a><\/p>\n The trend line is close to the 50% Fib retracement level of the upward move from the $53,002 low to $57,367 high. On the upside, the $56,500 level is a short-term hurdle. There is also a connecting bearish trend line at $56,500 on the same chart.<\/p>\n A clear break above the trend line resistance and $57,500 could open the doors for a move towards the $58,000 level. The next aim for the bulls could be a new all-time high or even $60,000.<\/p>\n If bitcoin fails to clear the $57,500 resistance, it could correct further lower. The first key support is near the trend line and $55,150.<\/p>\n If there is a downside break below the trend line support, there are chances of a move towards the $54,000 support. There is another trend line forming with support near $54,000 on the same chart.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is slowly losing momentum in the bearish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is still above the 50 level.<\/p>\n Major Support Levels \u2013 $55,150, followed by $54,000.<\/p>\n Major Resistance Levels \u2013 $57,500, $58,000 and $60,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price is showing positive signs above $55,000 against the US Dollar. BTC is likely to surpass $58,000 and trade to a new all-time high in the near term. Bitcoin climbed further above the $55,500 and $57,000 resistance levels. The price is now consolidating above $55,000 and it is well above the 100 hourly simple moving average. There is a major bullish trend line forming with support near $55,150 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to accelerate higher above $57,500 and $58,000 in the coming sessions. Bitcoin Price is Showing Positive Signs There was a steady rise in bitcoin above the $55,000 resistance zone. BTC climbed above the $56,000 level and it settled well above the 100 hourly simple moving average. The bulls even pushed the price above the $57,000 resistance. A high is formed near $57,367 and the price is currently correcting lower. It traded below the 23.6% Fib retracement level of the upward move from the $53,002 low to $57,367 high. Bitcoin is testing the $55,500 support level and it is still well above the 100 hourly simple moving average. The next major support is near the $52,150 level. There is also a major bullish trend line forming with support near $55,150 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com The trend line is close to the 50% Fib retracement level of the upward move from the $53,002 low to $57,367 high. On the upside, the $56,500 level is a short-term hurdle. There is also a connecting bearish trend line at $56,500 on the same chart. A clear break above the trend line resistance and $57,500 could open the doors for a move towards the $58,000 level. The next aim for the bulls could be a new all-time high or even $60,000. Dips Supported in BTC? If bitcoin fails to clear the $57,500 resistance, it could correct further lower. The first key support is near the trend line and $55,150. If there is a downside break below the trend line support, there are chances of a move towards the $54,000 support. There is another trend line forming with support near $54,000 on the same chart. Technical indicators: Hourly MACD \u2013 The MACD is slowly losing momentum in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is still above the 50 level. Major Support Levels \u2013 $55,150, followed by $54,000. Major Resistance Levels \u2013 $57,500, $58,000 and $60,000.<\/p>\n","protected":false},"author":67,"featured_media":458433,"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-458431","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 Positive Signs<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Dips Supported in BTC?<\/h2>\n