Rising Bullish Momentum, Will Prices Go Higher?

Bitcoin value began a powerful enhance and broke the $62,000 resistance stage. BTC is exhibiting optimistic indicators and may rise towards the $63,200 stage.

• Bitcoin gained bullish momentum above the $60,500 resistance zone.
• The value is buying and selling above $61,500 and the 100 hourly Easy shifting common.
• There’s a key bullish development line forming with help at $61,000 on the hourly chart of the BTC/USD pair (knowledge feed from Kraken).
• The pair may proceed to maneuver up if it breaks the $62,500 help.

Bitcoin Worth Regains Energy

Bitcoin value began an honest enhance above the $59,500 and $60,000 resistance ranges. BTC even cleared the $60,500 resistance to maneuver right into a optimistic zone. It sparked a powerful enhance and the worth climbed above the $62,000 stage.

It even examined the $62,500 stage. A excessive was fashioned at $62,493 and the worth is now consolidating positive aspects. It’s buying and selling properly above the 23.6% Fib retracement stage of the upward transfer from the $56,593 swing low to the $62,493 excessive.

Bitcoin value is now buying and selling above $61,500 and the 100 hourly Easy shifting common. There may be additionally a key bullish development line forming with help at $61,000 on the hourly chart of the BTC/USD pair.

Speedy resistance on the upside is close to the $62,500 stage. The primary key resistance is close to the $62,800 stage. A transparent transfer above the $62,800 resistance may begin an honest enhance within the coming periods. The following key resistance may very well be $63,200.

The following main hurdle sits at $63,500. A detailed above the $63,500 resistance may begin a gentle enhance and ship the worth increased. Within the said case, the worth might rise and check the $65,000 resistance.

Are Dips Supported In BTC?

If Bitcoin fails to climb above the $62,500 resistance zone, it might begin a draw back correction. Speedy help on the draw back is close to the $61,500 stage.

The primary main help is $61,000 and the development line zone. The following help is now close to $60,000. Any extra losses may ship the worth towards the $59,500 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 Energy Index) – The RSI for BTC/USD is now above the 50 stage.

Main Assist Ranges – $61,500, adopted by $61,000.

Main Resistance Ranges – $62,500, and $63,500.