{"id":462412,"date":"2021-04-27T02:58:36","date_gmt":"2021-04-27T02:58:36","guid":{"rendered":"https:\/\/uniquehot.com\/?p=462412"},"modified":"2024-06-11T13:55:17","modified_gmt":"2024-06-11T13:55:17","slug":"bitcoin-price-breaks-hurdle-58k-next","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-price-breaks-hurdle-58k-next\/","title":{"rendered":"TA: Bitcoin Price Breaks Hurdle, Here\u2019s Why Bulls Could Aim $58K"},"content":{"rendered":"
Bitcoin price gained pace and it cleared the $53,000 resistance zone against the US Dollar. BTC is consolidating and it seems ready for more gains above $54,000.<\/em><\/p>\n Bitcoin remained well supported above the $51,000 level and it managed to extend gains. BTC gained bullish momentum above the $52,000 resistance and the 100 hourly simple moving average.<\/p>\n It even cleared the $53,000 and $53,500 resistance levels<\/a>. A high is formed near $54,455 and the price is now consolidating gains. It already tested the $53,000 support level. The 23.6% Fib retracement level of the recent wave from the $47,010 swing low to $54,455 high is acting as a support.<\/p>\n It seems like there is a key contracting triangle forming with resistance near $54,000 on the hourly chart of the BTC\/USD pair. The pair is now trading well above $52,000 and the 100 hourly simple moving average.<\/p>\n <\/a><\/p>\n If there is a clear break above the $54,000 resistance zone, the price is likely to accelerate higher. The next key resistance is near the $54,500 level, above which the doors could open for a run up towards the $58,000 barrier in the near term.<\/p>\n If bitcoin fails to clear the $54,500 and $55,000 resistance levels, it could start a downside correction. An immediate support on the downside is near the $53,000 level.<\/p>\n\n
Bitcoin Price is Gaining Pace<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Dips Limited in BTC?<\/h2>\n