Bitcoin price gained bullish momentum above $ 50k. BTC surged from $ 57,500 against the US dollar to an all-time high.



Bitcoin rising

BTC continues to be supported and is probably watching a $ 60,000 test. Bitcoin climbed above the $ 50,000 resistance and rose to an all-time high near $ 57,500.

The price is trading nicely above the $ 55,000 level and the 100 simple moving average.

On the 4-hour chart of the BTC / USD pair, there is an important bullish trend line formed with support near $ 54,000.

The pair is showing many positive signs and the bulls seem to be watching a $ 60,000 test.

Last week, Bitcoin price surged above the key $ 50,000 resistance zone against the US Dollar. The BTC / USD pair even broke the $ 55,000 level and settled well above the 100 simple moving average.

A clear break above the $ 57,500 resistance could open the doors for further bullishness. The next major resistance for the bulls is at the $ 60,000 level.


Technical indicators

4-hour MACD: The MACD for BTC / USD is showing positive signs in the bullish zone.

4 hours RSI (Relative Strength Index): The RSI for BTC / USD is still above the 60 level.

Major Support Level: $ 52,500.

Major Resistance Level: $ 60,000.


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