Market Cap
24h Vol
20372
Cryptocurrencies
60.12%
Bitcoin Share

TA: Bitcoin Key Indicators Suggest Upside Continuation To $62K

TA: Bitcoin Key Indicators Suggest Upside Continuation To $62K


NewsBTC
2021-10-15 03:28:12
TA: Bitcoin Key Indicators Suggest Upside Continuation To $62K

Bitcoin is showing positive signs above the $57,000 level against the US Dollar. BTC could gain pace and it might even test the $60,000 resistance zone. Bitcoin started a fresh increase and it broke the $58,500 level. The price is now trading above $58,000 and the 100 hourly simple moving average. There was a break above a key declining channel with resistance near $58,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue higher towards the $60,000 level in the near term. Bitcoin Price Remains In Uptrend Bitcoin price corrected a few points below the $58,000 level. However, downsides were limited below $57,000 and BTC started a fresh increase. The price traded as low as $56,888 and started a fresh increase. It surpassed the $57,500 and $58,000 resistance levels. There was a break above a key declining channel with resistance near $58,000 on the hourly chart of the BTC/USD pair. The pair is now trading above $58,000 and the 100 hourly simple moving average. It is now trading near the $59,000 zone. Besides, the price is testing the 1.236 Fib extension level of the downside correction from the $58,580 swing high to $56,888 low. On the upside, an initial resistance is near the $59,500 level. The first key resistance is near the $59,650 level. It is near the 1.618 Fib extension level of the downside correction from the $58,580 swing high to $56,888 low. Source: BTCUSD on TradingView.com A clea...

Most Read News

Related News


Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.