Bitcoin value gained tempo and it cleared the $53,000 resistance zone towards the US Greenback. BTC is consolidating and it appears prepared for extra positive factors above $54,000.
- Bitcoin remained effectively bid and it was in a position to clear the $53,000 resistance.
- The value is now buying and selling effectively above $52,000 and the 100 hourly easy transferring common.
- There’s a key contracting triangle forming with resistance close to $54,000 on the hourly chart of the BTC/USD pair (knowledge feed from Kraken).
- The pair is more likely to proceed increased above the $54,000 and $54,500 resistance ranges.
Bitcoin Value is Gaining Tempo
Bitcoin remained effectively supported above the $51,000 stage and it managed to increase positive factors. BTC gained bullish momentum above the $52,000 resistance and the 100 hourly easy transferring common.
It even cleared the $53,000 and $53,500 resistance ranges. A excessive is shaped close to $54,455 and the value is now consolidating positive factors. It already examined the $53,000 assist stage. The 23.6% Fib retracement stage of the current wave from the $47,010 swing low to $54,455 excessive is appearing as a assist.
It looks as if there’s a key contracting triangle forming with resistance close to $54,000 on the hourly chart of the BTC/USD pair. The pair is now buying and selling effectively above $52,000 and the 100 hourly easy transferring common.
Supply: BTCUSD on TradingView.com
If there’s a clear break above the $54,000 resistance zone, the value is more likely to speed up increased. The following key resistance is close to the $54,500 stage, above which the doorways may open for a run up in direction of the $58,000 barrier within the close to time period.
Dips Restricted in BTC?
If bitcoin fails to clear the $54,500 and $55,000 resistance ranges, it may begin a draw back correction. A right away assist on the draw back is close to the $53,000 stage.
The primary key assist is close to the $51,250 stage. The 50% Fib retracement stage of the current wave from the $47,010 swing low to $54,455 excessive can also be close to the $50,700 stage to behave as a assist. Furthermore, the 100 hourly easy transferring common is at $50,500 to behave as a robust assist within the close to time period.
Hourly MACD – The MACD is slowly gaining tempo within the bullish zone.
Hourly RSI (Relative Energy Index) – The RSI for BTC/USD is now effectively above the 55 stage.
Main Assist Ranges – $53,000, adopted by $51,250.
Main Resistance Ranges – $54,500, $55,000 and $58,000.