Bitcoin remained in the positive zone. BTC rise to a new all-time high of over $ 58,000 against the dollar.



Bitcoin rising

BTC is currently correcting gains. However, it is expected to start rising towards $ 60,000.

Bitcoin surged above $ 57,000 and rose to an all-time high of $ 58,350.

The price is still well above $ 55,000 and the 100 hourly simple moving average.

The hourly chart of the BTC / USD pair includes a key bullish trend line formed with support near $ 55,000.

The pair may continue to rise. For these reasons, the bulls are expected to target a $ 60,000 test.

If Bitcoin fails to clear the $ 58,000 resistance zone, it could regress to the lower level. Initial downside support is near the $ 56,000 level.

The first major support is in the region close to the $ 55,000 level. If there is a downside break below the $ 55,000 and the 100 hourly simple moving average, there could be a drop towards the $ 52,000 support.


Technical indicators

Hourly MACD: The MACD is slowly gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index): The RSI for BTC / USD is near the 50 level.

Major Support Levels: $ 56,000 followed by $ 55,000.

Major Resistance Levels: $ 57,500, $ 58,000 and $ 60,000.


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