{"id":460982,"date":"2021-04-12T03:08:34","date_gmt":"2021-04-12T03:08:34","guid":{"rendered":"https:\/\/uniquehot.com\/?p=460982"},"modified":"2024-06-11T14:14:46","modified_gmt":"2024-06-11T14:14:46","slug":"bitcoin-steadies-above-59k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-steadies-above-59k\/","title":{"rendered":"TA: Bitcoin Steadies Above $59K, Here\u2019s How Bulls Could Aim Fresh Rally"},"content":{"rendered":"
Bitcoin price failed to continue higher above $60,800 and corrected lower against the US Dollar. BTC is now holding gains and it is likely to rally above $61,000 unless there is a break below the 100 hourly SMA.<\/em><\/p>\n Bitcoin dipped sharply towards the $58,000 support<\/a> after it was rejected above $60,500. However, BTC remained well bid above the $58,000 zone and it recovered losses.<\/p>\n There was a break above the $59,000 level and the price even climbed above $60,000. A high is formed near $60,677 and the price is currently consolidating. It traded below the 23.6% Fib retracement level of the upward move from the $58,025 low to $60,677 high.<\/p>\n On the downside, the price is finding bids near the $59,250 and $59,100 levels. The 50% Fib retracement level of the upward move from the $58,025 low to $60,677 high is also near the $59,350 level.<\/p>\n <\/a><\/p>\n There is also a major contracting triangle forming with resistance near $60,050 on the hourly chart of the BTC\/USD pair. If there is an upside break above the $60,050 and $60,200 levels, there are high chances of a fresh rally. In the stated case, the price is likely to surge towards the $61,200 and $62,000 levels in the near term.<\/p>\n If bitcoin fails to climb above $60,050 and $60,200, there could be a short-term downside correction. An initial support on the downside is near the $58,350 level.<\/p>\n\n
Bitcoin Price is Holding Gains<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Dips Supported in BTC?<\/h2>\n