Bitcoin (BTC) has maintained its position well above the $ 60,000 psychological level; It is now possible to climb the $ 65,000 resistance in the near future.
The rise of Bitcoin above $ 60,000 was a big step towards greater dominance of cows. After that, even the resistance levels of $ 61,500 and $ 62,000 were conquered one after another.
The $ 62,887 peak was further conquered, most recently with the $ 62,000 support falling in a bearish correction; During this correction, Bitcoin fell below $ 60,000 support and even jumped below the 100-hour moving average.
But eventually the correction stopped at around $ 58,800. Thus, the bottom of this downtrend was recorded at $ 58,888 and returned to the uptrend. The price continued to move quickly above the moving average, and returned to the level of $ 60,000. Meanwhile, the 50% Fibonacci retracement level of the bearish swing from $ 62,887 to the bottom of $ 58,888 was conquered again.
On the hourly chart, the BTC / USD pair also broke the downtrend with resistance at around $ 60,850, and now Bitcoin is trading above the 76.5% Fibonacci level.
At the current position, the nearest resistance upstream is around $ 62,500. Above, the key resistance is in the $ 62,850 range; Crossing it will allow more ascents. The next significant resistance is expected to be in the $ 63,500 range, which will move above the $ 65,000 range.
But if Bitcoin (BTC) is not able to cross the $ 62,500 resistance, it will probably be reformed again. The nearest downstream support level is around $ 61,200.
Below is the $ 60,000 psychological range and the moving average is the next significant support range. Its collapse may be the beginning of a more drastic bitcoin reform.
The rise of Bitcoin above $ 60,000 was a big step towards greater dominance of cows. After that, even the resistance levels of $ 61,500 and $ 62,000 were conquered one after another.
The $ 62,887 peak was further conquered, most recently with the $ 62,000 support falling in a bearish correction; During this correction, Bitcoin fell below $ 60,000 support and even jumped below the 100-hour moving average.
But eventually the correction stopped at around $ 58,800. Thus, the bottom of this downtrend was recorded at $ 58,888 and returned to the uptrend. The price continued to move quickly above the moving average, and returned to the level of $ 60,000. Meanwhile, the 50% Fibonacci retracement level of the bearish swing from $ 62,887 to the bottom of $ 58,888 was conquered again.
On the hourly chart, the BTC / USD pair also broke the downtrend with resistance at around $ 60,850, and now Bitcoin is trading above the 76.5% Fibonacci level.
At the current position, the nearest resistance upstream is around $ 62,500. Above, the key resistance is in the $ 62,850 range; Crossing it will allow more ascents. The next significant resistance is expected to be in the $ 63,500 range, which will move above the $ 65,000 range.
But if Bitcoin (BTC) is not able to cross the $ 62,500 resistance, it will probably be reformed again. The nearest downstream support level is around $ 61,200.
Below is the $ 60,000 psychological range and the moving average is the next significant support range. Its collapse may be the beginning of a more drastic bitcoin reform.
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