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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.
