Bitcoin Price Moons To $57K As The Bulls Aim For $60K
27 Februar 2024 - 4:08AM
NEWSBTC
Bitcoin price is up over 10% and surging toward $58,000. BTC is
signaling a strong upward trend and might surge toward the $60,000
resistance. Bitcoin price is gaining pace above the $55,000
resistance zone. The price is trading above $55,000 and the 100
hourly Simple moving average. There was a break above a major
bearish trend line with resistance at $51,600 on the hourly chart
of the BTC/USD pair (data feed from Kraken). The pair could extend
its current rally toward the $60,000 resistance zone. Bitcoin Price
Starts Fresh Surge Bitcoin price remained well-bid above the
$50,500 support zone. A support base was formed above the $51,500
level and the price started a fresh rally. BTC gained bullish
momentum after it broke the $51,600 and $52,000 resistance levels.
There was a break above a major bearish trend line with resistance
at $51,600 on the hourly chart of the BTC/USD pair. The pair surged
over 10% and broke many hurdles near the $55,000 level. A new
multi-week high is formed near $57,109 and the price is now
retreating. Bitcoin is still trading above $55,000 and the 100
hourly Simple moving average. It is also above the 23.6% Fib
retracement level of the recent rally from the $50,950 swing low to
the $57,109 high. Source: BTCUSD on TradingView.com Immediate
resistance is near the $56,800 level. The next key resistance could
be $57,000, above which the price could rise toward the $58,000
resistance zone. If the bulls remain in action, the price could
even surpass $58,000 and test $58,800. The main hurdle for them is
visible near the $60,000 zone. Are Dips Limited In BTC? If Bitcoin
fails to rise above the $57,000 resistance zone, it could start a
downside correction. Immediate support on the downside is near the
$56,000 level. The first major support is $55,600. If there is a
close below $55,600, the price could start a decent pullback toward
the 50% Fib retracement level of the recent rally from the $50,950
swing low to the $57,109 high. Any more losses might send the price
toward the $53,200 support zone. Technical indicators: Hourly MACD
– The MACD is now gaining pace in the bullish zone. Hourly RSI
(Relative Strength Index) – The RSI for BTC/USD is now above the 50
level. Major Support Levels – $56,000, followed by $55,600. Major
Resistance Levels – $57,000, $58,000, and $60,000.
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