Bitcoin worth is displaying optimistic indicators above $55,000 towards the US Greenback. BTC is more likely to surpass $58,000 and commerce to a brand new all-time excessive within the close to time period.
- Bitcoin climbed additional above the $55,500 and $57,000 resistance ranges.
- The value is now consolidating above $55,000 and it’s nicely above the 100 hourly easy shifting common.
- There’s a main bullish development line forming with assist close to $55,150 on the hourly chart of the BTC/USD pair (knowledge feed from Kraken).
- The pair is more likely to speed up increased above $57,500 and $58,000 within the coming periods.
Bitcoin Worth is Displaying Optimistic Indicators
There was a gradual rise in bitcoin above the $55,000 resistance zone. BTC climbed above the $56,000 degree and it settled nicely above the 100 hourly easy shifting common.
The bulls even pushed the value above the $57,000 resistance. A excessive is fashioned close to $57,367 and the value is presently correcting decrease. It traded beneath the 23.6% Fib retracement degree of the upward transfer from the $53,002 low to $57,367 excessive.
Bitcoin is testing the $55,500 assist degree and it’s nonetheless nicely above the 100 hourly simple moving average. The subsequent main assist is close to the $52,150 degree. There may be additionally a significant bullish development line forming with assist close to $55,150 on the hourly chart of the BTC/USD pair.
Supply: BTCUSD on TradingView.com
The development line is near the 50% Fib retracement degree of the upward transfer from the $53,002 low to $57,367 excessive. On the upside, the $56,500 degree is a short-term hurdle. There may be additionally a connecting bearish development line at $56,500 on the identical chart.
A transparent break above the development line resistance and $57,500 may open the doorways for a transfer in direction of the $58,000 degree. The subsequent intention for the bulls could possibly be a brand new all-time excessive and even $60,000.
Dips Supported in BTC?
If bitcoin fails to clear the $57,500 resistance, it may right additional decrease. The primary key assist is close to the development line and $55,150.
If there’s a draw back break beneath the development line assist, there are probabilities of a transfer in direction of the $54,000 assist. There may be one other development line forming with assist close to $54,000 on the identical chart.
Hourly MACD – The MACD is slowly shedding momentum within the bearish zone.
Hourly RSI (Relative Energy Index) – The RSI for BTC/USD continues to be above the 50 degree.
Main Assist Ranges – $55,150, adopted by $54,000.
Main Resistance Ranges – $57,500, $58,000 and $60,000.