Bitcoin worth is holding the important thing help at $60,000. BTC might begin one other enhance and rise towards the vary resistance at $63,500.
- Bitcoin continues to be buying and selling in a spread between $60,000 and $63,500.
- The worth is buying and selling above $61,500 and the 100 hourly Simple transferring common.
- There was a break above a connecting bearish development line with resistance at $61,550 on the hourly chart of the BTC/USD pair (information feed from Kraken).
- The pair might achieve bullish momentum if it clears $62,200 and $62,500.
Bitcoin Price Remains Steady
Bitcoin worth began one other decline from the $63,500 resistance zone. BTC traded under the $62,500 and $62,200 help ranges. A low was fashioned at $61,000 and the value began a restoration wave.
There was a transfer above the $61,250 and $61,500 ranges. Besides, there was a break above a connecting bearish development line with resistance at $61,550 on the hourly chart of the BTC/USD pair. There was a transfer above the 23.6% Fib retracement stage of the latest decline from the $63,400 swing excessive to the $61,000 low.
Bitcoin continues to be buying and selling above $61,500 and the 100 hourly Simple moving average. Immediate resistance is close to the $62,200 stage or the 50% Fib retracement stage of the latest decline from the $63,400 swing excessive to the $61,000 low.
The first main resistance may very well be $62,500. The subsequent key resistance may very well be $63,000. A transparent transfer above the $63,000 resistance may ship the value greater. The important resistance now sits at $63,500. If there’s a shut above the $63,500 resistance zone, the value might proceed to maneuver up. In the said case, the value might rise towards $65,000.
Another Drop In BTC?
If Bitcoin fails to climb above the $62,500 resistance zone, it might begin one other decline. Immediate help on the draw back is close to the $61,550 stage and the 100 hourly Simple transferring common.
The first main help is $61,000. If there’s a shut under $61,000, the value might begin to drop towards $60,400. Any extra losses may ship the value towards the $60,000 help zone within the close to time period.
Technical indicators:
Hourly MACD – The MACD is now gaining tempo within the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 stage.
Major Support Levels – $61,550, adopted by $61,000.
Major Resistance Levels – $62,200, $62,500, and $63,500.
