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{"id":462814,"date":"2021-05-02T05:58:40","date_gmt":"2021-05-02T05:58:40","guid":{"rendered":"https:\/\/uniquehot.com\/?p=462814"},"modified":"2024-06-11T11:28:32","modified_gmt":"2024-06-11T11:28:32","slug":"bitcoin-btc-could-revisit-60k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-btc-could-revisit-60k\/","title":{"rendered":"Bitcoin Settles Above Key Support, Why BTC Could Revisit $60K"},"content":{"rendered":"

Bitcoin price started a fresh increase above the $55,000 resistance zone against the US Dollar. BTC tested $58,500 and it remains elevated for a move towards the $60,000 zone.<\/em><\/p>\n

\n
Bitcoin is showing positive signs and it recently tested the $58,500 resistance zone.<\/li>\n
The price is now trading well above $55,000 and the 100 simple moving average (4-hours).<\/li>\n
There is a key bullish trend line forming with support near $55,400 on the 4-hours chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could correct losses, but it is likely to start a steady increase towards the $60,000 level.<\/li>\n<\/ul>\n
Bitcoin Price Gains Traction<\/h2>\n
This past week, bitcoin price remained stable above the $52,500 support zone against the US Dollar. The BTC\/USD pair started a steady increase<\/a> and it broke a couple of important hurdles near $55,000.<\/p>\n
The price even broke the $56,500 resistance and extended its rise. There was a spike above the $58,000 level, but the price struggled near the $58,500 zone. A high is formed near $58,494 and the price is now correcting lower.<\/p>\n
It traded below the $57,500 level. There was a break below the 23.6% Fib retracement level of the upward move<\/a> from the $52,489 swing low to $58,494 high. On the downside, there is a major support forming near the $55,500 zone.<\/p>\n
There is also a key bullish trend line forming with support near $55,400 on the 4-hours chart of the BTC\/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $52,489 swing low to $58,494 high.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
On the upside, the price is facing a major resistance near the $58,000 and $58,500 levels. A successful close above the $58,000 and $58,500 resistance levels could open the doors for a fresh increase towards the $60,000 barrier.<\/p>\n
Dips Limited in BTC?<\/h2>\n
If bitcoin fails above the $58,000 level, there is a risk of a downside correction. The first major support is near the $55,500 level and the trend line zone.<\/p>\n
The next major support is near the $55,000 level and the 100 SMA. Any more losses might call for a fresh drop towards the $52,500 support level.<\/p>\n
Technical indicators<\/p>\n
4 hours MACD \u2013 The MACD for BTC\/USD is losing momentum in the bullish zone.<\/p>\n
4 hours RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well above the 50 level.<\/p>\n
Major Support Level \u2013 $55,500<\/p>\n
Major Resistance Level \u2013 $58,500<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price started a fresh increase above the $55,000 resistance zone against the US Dollar. BTC tested $58,500 and it remains elevated for a move towards the $60,000 zone. Bitcoin is showing positive signs and it recently tested the $58,500 resistance zone. The price is now trading well above $55,000 and the 100 simple moving average (4-hours). There is a key bullish trend line forming with support near $55,400 on the 4-hours chart of the BTC\/USD pair (data feed from Kraken). The pair could correct losses, but it is likely to start a steady increase towards the $60,000 level. Bitcoin Price Gains Traction This past week, bitcoin price remained stable above the $52,500 support zone against the US Dollar. The BTC\/USD pair started a steady increase and it broke a couple of important hurdles near $55,000. The price even broke the $56,500 resistance and extended its rise. There was a spike above the $58,000 level, but the price struggled near the $58,500 zone. A high is formed near $58,494 and the price is now correcting lower. It traded below the $57,500 level. There was a break below the 23.6% Fib retracement level of the upward move from the $52,489 swing low to $58,494 high. On the downside, there is a major support forming near the $55,500 zone. There is also a key bullish trend line forming with support near $55,400 on the 4-hours chart of the BTC\/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $52,489 swing low to $58,494 high. Source: BTCUSD on TradingView.com On the upside, the price is facing a major resistance near the $58,000 and $58,500 levels. A successful close above the $58,000 and $58,500 resistance levels could open the doors for a fresh increase towards the $60,000 barrier. Dips Limited in BTC? If bitcoin fails above the $58,000 level, there is a risk of a downside correction. The first major support is near the $55,500 level and the trend line zone. The next major support is near the $55,000 level and the 100 SMA. Any more losses might call for a fresh drop towards the $52,500 support level. Technical indicators 4 hours MACD \u2013 The MACD for BTC\/USD is losing momentum in the bullish zone. 4 hours RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well above the 50 level. Major Support Level \u2013 $55,500 Major Resistance Level \u2013 $58,500<\/p>\n","protected":false},"author":67,"featured_media":462816,"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-462814","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nBitcoin Settles Above Key Support, Why BTC Could Revisit $60K<\/title>\n<meta name=\"description\" content=\"Bitcoin price started a fresh increase above the $55,000 resistance zone 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":"Bitcoin Settles Above Key Support, Why BTC Could Revisit $60K","url":"http:\/\/uniquehot.com\/news\/bitcoin-btc-could-revisit-60k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-btc-could-revisit-60k\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/Depositphotos_180246254_s-2019.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/Depositphotos_180246254_s-2019.jpg?fit=1000%2C667"},"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":"2021-05-02T05:58:40Z","datePublished":"2021-05-02T05:58:40Z","dateModified":"2024-06-11T11:28:32Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Settles Above Key Support, Why BTC Could Revisit $60K\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-btc-could-revisit-60k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-btc-could-revisit-60k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/Depositphotos_180246254_s-2019.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/Depositphotos_180246254_s-2019.jpg?fit=1000%2C667\"},\"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\":\"2021-05-02T05:58:40Z\",\"datePublished\":\"2021-05-02T05:58:40Z\",\"dateModified\":\"2024-06-11T11:28:32Z\"}<\/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\/05\/Depositphotos_180246254_s-2019.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/462814","targetHints":{"allow":["GET"]}}],"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=462814"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/462814\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/462816"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=462814"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=462814"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=462814"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}