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{"id":460234,"date":"2021-04-02T03:08:59","date_gmt":"2021-04-02T03:08:59","guid":{"rendered":"https:\/\/uniquehot.com\/?p=460234"},"modified":"2024-06-11T14:14:29","modified_gmt":"2024-06-11T14:14:29","slug":"bitcoin-looks-bullish-break-above-60k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-looks-bullish-break-above-60k\/","title":{"rendered":"TA: Why Bitcoin Looks Set For A Massive Bullish Break above $60K"},"content":{"rendered":"

Bitcoin price is consolidating gains above the $58,000 resistance against the US Dollar. BTC is likely to surge above the $59,500 and $60,000 resistance levels in the near term.<\/em><\/p>\n

\n
Bitcoin is showing a lot of bullish signs, but it is still below the $60,000 resistance zone.<\/li>\n
The price is trading nicely above the $58,000 support and the 100 hourly simple moving average.<\/li>\n
There is a crucial contracting triangle forming with resistance near $59,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could start a strong increase once it clears the $59,200 and $59,500 levels.<\/li>\n<\/ul>\n
Bitcoin Price is Likely to Rally Soon<\/h2>\n
Bitcoin failed to settle above the $59,500 resistance<\/a> and recently started a downside correction. BTC broke the $59,000 level and it even traded below the $58,500 support.<\/p>\n
However, the bulls were active near the $58,000 support and the 100 hourly simple moving average. A low is formed near $57,922 and it seems like the price is trading in a contracting range. It has already recovered above the $58,500 level.<\/p>\n
There was a break above the 50% Fib retracement level of the recent decline from the $59,650 high to $57,922 low. Bitcoin is now facing resistance near the $59,200 level.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
It seems like there is a crucial contracting triangle forming with resistance near $59,200 on the hourly chart of the BTC\/USD pair. The triangle resistance is near the 61.8% Fib retracement level of the recent decline from the $59,650 high to $57,922 low.<\/p>\n
A successful break above the triangle resistance could open the doors for a massive bullish wave<\/a>. The next major resistance is near the $59,500 zone, above which the price is likely to rally above $60,000.<\/p>\n
Dips Limited in BTC?<\/h2>\n
If bitcoin fails to climb above $59,200 and $60,000, there could be a downside correction. The first major support on the downside is near the $58,500 level.<\/p>\n
The next major support is near the $58,350 level, the 100 hourly SMA, and the triangle trend line. If there is a downside break below the triangle support, the price could dive towards $56,500.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is slowly gaining momentum in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is just above the 50 level.<\/p>\n
Major Support Levels \u2013 $58,500, followed by $58,350.<\/p>\n
Major Resistance Levels \u2013 $59,200, $59,500 and $60,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is consolidating gains above the $58,000 resistance against the US Dollar. BTC is likely to surge above the $59,500 and $60,000 resistance levels in the near term. Bitcoin is showing a lot of bullish signs, but it is still below the $60,000 resistance zone. The price is trading nicely above the $58,000 support and the 100 hourly simple moving average. There is a crucial contracting triangle forming with resistance near $59,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a strong increase once it clears the $59,200 and $59,500 levels. Bitcoin Price is Likely to Rally Soon Bitcoin failed to settle above the $59,500 resistance and recently started a downside correction. BTC broke the $59,000 level and it even traded below the $58,500 support. However, the bulls were active near the $58,000 support and the 100 hourly simple moving average. A low is formed near $57,922 and it seems like the price is trading in a contracting range. It has already recovered above the $58,500 level. There was a break above the 50% Fib retracement level of the recent decline from the $59,650 high to $57,922 low. Bitcoin is now facing resistance near the $59,200 level. Source: BTCUSD on TradingView.com It seems like there is a crucial contracting triangle forming with resistance near $59,200 on the hourly chart of the BTC\/USD pair. The triangle resistance is near the 61.8% Fib retracement level of the recent decline from the $59,650 high to $57,922 low. A successful break above the triangle resistance could open the doors for a massive bullish wave. The next major resistance is near the $59,500 zone, above which the price is likely to rally above $60,000. Dips Limited in BTC? If bitcoin fails to climb above $59,200 and $60,000, there could be a downside correction. The first major support on the downside is near the $58,500 level. The next major support is near the $58,350 level, the 100 hourly SMA, and the triangle trend line. If there is a downside break below the triangle support, the price could dive towards $56,500. Technical indicators: Hourly MACD \u2013 The MACD is slowly gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is just above the 50 level. Major Support Levels \u2013 $58,500, followed by $58,350. Major Resistance Levels \u2013 $59,200, $59,500 and $60,000.<\/p>\n","protected":false},"author":67,"featured_media":460236,"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-460234","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 Looks Set For A Massive Bullish Break above $60K<\/title>\n<meta name=\"description\" content=\"Bitcoin price is consolidating gains above the $58,000 resistance 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 Looks Set For A Massive Bullish Break above $60K","url":"http:\/\/uniquehot.com\/news\/bitcoin-looks-bullish-break-above-60k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-looks-bullish-break-above-60k\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/04\/shutterstock_456228007.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/04\/shutterstock_456228007.jpg?fit=1000%2C665"},"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":"2021-04-02T03:08:59Z","datePublished":"2021-04-02T03:08:59Z","dateModified":"2024-06-11T14:14:29Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Why Bitcoin Looks Set For A Massive Bullish Break above $60K\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-looks-bullish-break-above-60k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-looks-bullish-break-above-60k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_456228007.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_456228007.jpg?fit=1000%2C665\"},\"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\":\"2021-04-02T03:08:59Z\",\"datePublished\":\"2021-04-02T03:08:59Z\",\"dateModified\":\"2024-06-11T14:14:29Z\"}<\/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\/shutterstock_456228007.jpg?fit=1000%2C665","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/460234"}],"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=460234"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/460234\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/460236"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=460234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=460234"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=460234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}