Bitcoin Aims Fresh Run To $60K, Why Bulls Could Face Hurdles
30 Noviembre 2021 - 09:08PM
NEWSBTC
Bitcoin is trading above the $56,200 support against the US Dollar.
BTC must clear $58,500 to start a major increase in the coming
sessions. Bitcoin is struggling to gain pace above the $58,000 and
$58,500 levels. The price is still trading above $57,000 and the
100 hourly simple moving average. There is a major contracting
triangle forming with resistance near $58,200 on the hourly chart
of the BTC/USD pair (data feed from Kraken). The pair must clear
the $58,500 resistance to start a steady increase in the near term.
Bitcoin Price is Showing Bullish Signs Bitcoin price corrected
lower below the $57,000 support level. However, BTC remained stable
above the $56,200 support level and the 100 hourly simple moving
average. The recent low was near $56,555 and the price is now
moving higher. It broke the $57,000 resistance zone. There was a
break above the 23.6% Fib retracement level of the recent decline
from the $59,230 swing high to $56,555 low. It is still trading
above $57,000 and the 100 hourly simple moving average. An
immediate resistance on the upside is near the $57,850 level. It is
near the 50% Fib retracement level of the recent decline from the
$59,230 swing high to $56,555 low. The first major resistance is
near the $58,200 level. There is also a major contracting triangle
forming with resistance near $58,200 on the hourly chart of the
BTC/USD pair. Source: BTCUSD on TradingView.com A clear break above
the $58,200 resistance zone could open the doors for more upsides.
The next key resistance is near the $58,500 level, above which the
bulls could aim a test of $60,000. Any more gains might push the
price towards $61,200. Fresh Drop In BTC? If bitcoin fails to clear
the $58,500 resistance zone, it could start a fresh decline. An
immediate support on the downside is near the $57,000 level. The
first major support is now forming near the $56,200 level and the
100 hourly SMA. A downside break below the $56,200 support may
perhaps push the price towards $55,500. Any more losses might lead
the price towards $55,000. Technical indicators: Hourly MACD – The
MACD is now losing pace in the bearish zone. Hourly RSI (Relative
Strength Index) – The RSI for BTC/USD is currently near the 50
level. Major Support Levels – $57,000, followed by $56,200. Major
Resistance Levels – $58,000, $58,500 and $60,000.
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