{"id":36473,"date":"2024-02-27T03:52:52","date_gmt":"2024-02-27T07:52:52","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=36473"},"modified":"2024-02-27T03:52:52","modified_gmt":"2024-02-27T07:52:52","slug":"bitcoin-price-moons-to-57k-as-the-bulls-aim-for-60k","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/02\/27\/bitcoin-price-moons-to-57k-as-the-bulls-aim-for-60k\/","title":{"rendered":"Bitcoin Price Moons To $57K As The Bulls Aim For $60K"},"content":{"rendered":"

Bitcoin price is up over 10% and surging toward $58,000. BTC is signaling a strong upward trend and might surge toward the $60,000 resistance.<\/em><\/p>\n

Bitcoin price is gaining pace above the $55,000 resistance zone.
\nThe price is trading above $55,000 and the 100 hourly Simple moving average.
\nThere was a break above a major bearish trend line with resistance at $51,600 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could extend its current rally toward the $60,000 resistance zone.<\/p>\n

Bitcoin Price Starts Fresh Surge<\/h2>\n

Bitcoin price remained well-bid above the $50,500 support zone<\/a>. A support base was formed above the $51,500 level and the price started a fresh rally. BTC gained bullish momentum after it broke the $51,600 and $52,000 resistance levels.<\/p>\n

There was a break above a major bearish trend line with resistance at $51,600 on the hourly chart of the BTC\/USD pair. The pair surged over 10% and broke many hurdles near the $55,000 level. A new multi-week high is formed near $57,109 and the price is now retreating.<\/p>\n

Bitcoin is still trading above $55,000 and the 100 hourly Simple moving average<\/a>. It is also above the 23.6% Fib retracement level of the recent rally from the $50,950 swing low to the $57,109 high.<\/p>\n

<\/a><\/p>\n

Source: BTCUSD on TradingView.com<\/a><\/p>\n

Immediate resistance is near the $56,800 level. The next key resistance could be $57,000, above which the price could rise toward the $58,000 resistance zone. If the bulls remain in action, the price could even surpass $58,000 and test $58,800. The main hurdle for them is visible near the $60,000 zone.<\/p>\n

Are Dips Limited In BTC?<\/h2>\n

If Bitcoin fails to rise above the $57,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $56,000 level.<\/p>\n

The first major support is $55,600. If there is a close below $55,600, the price could start a decent pullback toward the 50% Fib retracement level of the recent rally from the $50,950 swing low to the $57,109 high. Any more losses might send the price toward the $53,200 support zone.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n

Major Support Levels \u2013 $56,000, followed by $55,600.<\/p>\n

Major Resistance Levels \u2013 $57,000, $58,000, and $60,000.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is up over 10% and surging toward $58,000. BTC is signaling a strong upward trend and might surge toward the $60,000 resistance.<\/em><\/p>\n

Bitcoin price is gaining pace above the $55,000 resistance zone.
\nThe price is trading above $55,000 and the 100 hourly Simple moving average.
\nThere was a break above a major bearish trend line with resistance at $51,600 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could extend its current rally toward the $60,000 resistance zone.<\/p>\n

Bitcoin Price Starts Fresh Surge<\/h2>\n

Bitcoin price remained well-bid above the $50,500 support zone<\/a>. A support base was formed above the $51,500 level and the price started a fresh rally. BTC gained bullish momentum after it broke the $51,600 and $52,000 resistance levels.<\/p>\n

There was a break above a major bearish trend line with resistance at $51,600 on the hourly chart of the BTC\/USD pair. The pair surged over 10% and broke many hurdles near the $55,000 level. A new multi-week high is formed near $57,109 and the price is now retreating.<\/p>\n

Bitcoin is still trading above $55,000 and the 100 hourly Simple moving average<\/a>. It is also above the 23.6% Fib retracement level of the recent rally from the $50,950 swing low to the $57,109 high.<\/p>\n

<\/a><\/p>\n

Source: BTCUSD on TradingView.com<\/a><\/p>\n

Immediate resistance is near the $56,800 level. The next key resistance could be $57,000, above which the price could rise toward the $58,000 resistance zone. If the bulls remain in action, the price could even surpass $58,000 and test $58,800. The main hurdle for them is visible near the $60,000 zone.<\/p>\n

Are Dips Limited In BTC?<\/h2>\n

If Bitcoin fails to rise above the $57,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $56,000 level.<\/p>\n

The first major support is $55,600. If there is a close below $55,600, the price could start a decent pullback toward the 50% Fib retracement level of the recent rally from the $50,950 swing low to the $57,109 high. Any more losses might send the price toward the $53,200 support zone.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n

Major Support Levels \u2013 $56,000, followed by $55,600.<\/p>\n

Major Resistance Levels \u2013 $57,000, $58,000, and $60,000.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-36473","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36473","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=36473"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36473\/revisions"}],"predecessor-version":[{"id":36484,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/36473\/revisions\/36484"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=36473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=36473"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=36473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}