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{"id":460126,"date":"2021-04-01T03:08:09","date_gmt":"2021-04-01T03:08:09","guid":{"rendered":"https:\/\/uniquehot.com\/?p=460126"},"modified":"2024-06-11T14:14:27","modified_gmt":"2024-06-11T14:14:27","slug":"bitcoin-could-surge-above-60k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-could-surge-above-60k\/","title":{"rendered":"TA: Why Bitcoin Breaking This Resistance Could Spark a Significant Surge"},"content":{"rendered":"

Bitcoin price is trading in a bullish zone above $57,600 against the US Dollar. BTC is likely to accelerate higher once it clears the $59,800 and $60,000 resistance levels.<\/em><\/p>\n

\n
Bitcoin is trading in a positive zone, but it is facing hurdles near $60,000.<\/li>\n
The price is now well above the $58,000 support and the 100 hourly simple moving average.<\/li>\n
There is a major bullish trend line forming with support near $57,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could start a sharp rally if it clears the $59,800 and $60,000 resistance levels.<\/li>\n<\/ul>\n
Bitcoin Price is Showing Positive Signs<\/h2>\n
Bitcoin mostly traded in a positive zone<\/a> above the $57,000 pivot level. BTC extended its upward move above the $59,500 resistance level and it settled nicely above the 100 hourly simple moving average.<\/p>\n
However, the bulls faced a strong resistance near the $59,800 and $60,000 resistance levels<\/a>. A high was formed near $59,829 before there was a downside correction. The price declined below the $59,000 and $58,000 levels.<\/p>\n
There was also a spike below the $57,500 level, but the bulls protected the 100 hourly simple moving average. A low is formed near the $56,800 level and the price is now back above $58,000. The bulls pushed bitcoin above the 50% Fib retracement level of the downward move from the $59,829 high to $56,800 low.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
It is currently trading well above the $58,000 support and the 100 hourly simple moving average. There is also a major bullish trend line forming with support near $57,800 on the hourly chart of the BTC\/USD pair.<\/p>\n
Bitcoin seems to be consolidating just above the 76.4% Fib retracement level of the downward move from the $59,829 high to $56,800 low. The key hurdle is near the $59,800 and $60,000 levels. A successful close above the $60,000 level will most likely pump the price towards the $62,000 level in the coming sessions.<\/p>\n
Dips Supported in BTC?<\/h2>\n
If bitcoin fails to climb above $59,800 and $60,000, there could be a downside correction. The first major support on the downside is near the $58,400 level.<\/p>\n
The next major support is near the $58,000 level, the 100 hourly SMA, and the trend line. If there is a downside break below the trend line, the price could revisit $56,800.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now gaining momentum in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is well above the 50 level.<\/p>\n
Major Support Levels \u2013 $58,500, followed by $58,000.<\/p>\n
Major Resistance Levels \u2013 $59,800, $60,000 and $60,800.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is trading in a bullish zone above $57,600 against the US Dollar. BTC is likely to accelerate higher once it clears the $59,800 and $60,000 resistance levels. Bitcoin is trading in a positive zone, but it is facing hurdles near $60,000. The price is now well above the $58,000 support and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $57,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a sharp rally if it clears the $59,800 and $60,000 resistance levels. Bitcoin Price is Showing Positive Signs Bitcoin mostly traded in a positive zone above the $57,000 pivot level. BTC extended its upward move above the $59,500 resistance level and it settled nicely above the 100 hourly simple moving average. However, the bulls faced a strong resistance near the $59,800 and $60,000 resistance levels. A high was formed near $59,829 before there was a downside correction. The price declined below the $59,000 and $58,000 levels. There was also a spike below the $57,500 level, but the bulls protected the 100 hourly simple moving average. A low is formed near the $56,800 level and the price is now back above $58,000. The bulls pushed bitcoin above the 50% Fib retracement level of the downward move from the $59,829 high to $56,800 low. Source: BTCUSD on TradingView.com It is currently trading well above the $58,000 support and the 100 hourly simple moving average. There is also a major bullish trend line forming with support near $57,800 on the hourly chart of the BTC\/USD pair. Bitcoin seems to be consolidating just above the 76.4% Fib retracement level of the downward move from the $59,829 high to $56,800 low. The key hurdle is near the $59,800 and $60,000 levels. A successful close above the $60,000 level will most likely pump the price towards the $62,000 level in the coming sessions. Dips Supported in BTC? If bitcoin fails to climb above $59,800 and $60,000, there could be a downside correction. The first major support on the downside is near the $58,400 level. The next major support is near the $58,000 level, the 100 hourly SMA, and the trend line. If there is a downside break below the trend line, the price could revisit $56,800. Technical indicators: Hourly MACD \u2013 The MACD is now gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is well above the 50 level. Major Support Levels \u2013 $58,500, followed by $58,000. Major Resistance Levels \u2013 $59,800, $60,000 and $60,800.<\/p>\n","protected":false},"author":67,"featured_media":460128,"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-460126","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nTA: Why Bitcoin Breaking This Resistance Could Spark a Significant Surge<\/title>\n<meta name=\"description\" content=\"Bitcoin price is trading in a bullish zone above $57,600 against the US Dollar. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/uniquehot.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"TA: Why Bitcoin Breaking This Resistance Could Spark a Significant Surge","url":"http:\/\/uniquehot.com\/news\/bitcoin-could-surge-above-60k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-could-surge-above-60k\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/04\/hello-i-m-nik-8yCmQODY2SY-unsplash.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/04\/hello-i-m-nik-8yCmQODY2SY-unsplash.jpg?fit=1920%2C1285"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btcusd","btcusdt","xbtusd"],"dateCreated":"2021-04-01T03:08:09Z","datePublished":"2021-04-01T03:08:09Z","dateModified":"2024-06-11T14:14:27Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Why Bitcoin Breaking This Resistance Could Spark a Significant Surge\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-could-surge-above-60k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-could-surge-above-60k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/hello-i-m-nik-8yCmQODY2SY-unsplash.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/hello-i-m-nik-8yCmQODY2SY-unsplash.jpg?fit=1920%2C1285\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2021-04-01T03:08:09Z\",\"datePublished\":\"2021-04-01T03:08:09Z\",\"dateModified\":\"2024-06-11T14:14:27Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/04\/hello-i-m-nik-8yCmQODY2SY-unsplash.jpg?fit=1920%2C1285","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/460126"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=460126"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/460126\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/460128"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=460126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=460126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=460126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}