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BTCUSD Bitcoin

56,584.03

-1,080.50 (-1.87%)

08:20:35 - Realtime Data

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,109,874,448,374	SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-1,080.50	-1.87%	56,584.03	56,584.49	56,586.72

High Price	Low Price	Open Price	Prev. Close	52 Week Range
57,762.58	56,091.36	57,623.15	57,664.53	24,900.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	08:20:42	0.000120	56,587.60	USD

Price x Volume	Volume	Base Symbol	Related Pairs
180,949,648.99	3,184.86	BTC	BTCEUR	BTCGBP	ETHBTC

Bitcoin Price Battles to Extend Gains: Will It Clear $58K?

11/09/2024 3:43am

NEWSBTC

Bitcoin price started a decent increase above the $56,500 resistance. BTC is now struggling to clear the $58,000 resistance and is consolidating gains. Bitcoin is attempting a fresh increase from the $52,500 support zone. The price is trading above $56,500 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $56,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain pace if it clears the $58,000 and $58,200 resistance levels in the near term. Bitcoin Price Faces Resistance Bitcoin price started a decent increase after it broke the $55,000 resistance zone. BTC was able to climb above the $56,500 resistance. The price even spiked above the $58,000 resistance zone. The recent swing high was formed at $58,000 and the price is now consolidating gains. There was a minor decline below the $57,000 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $53,643 swing low to the $58,000 high. Bitcoin is now trading above $56,500 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $56,800 on the hourly chart of the BTC/USD pair. On the upside, the price could face resistance near the $57,500 level. The first key resistance is near the $58,000 level. A clear move above the $58,000 resistance might start a steady increase in the coming sessions. The next key resistance could be $58,800. A close above the $58,800 resistance might spark more upsides. In the stated case, the price could rise and test the $60,000 resistance. Another Decline In BTC? If Bitcoin fails to rise above the $57,500 resistance zone, it could start another decline. Immediate support on the downside is near the $56,800 level and the trend line. The first major support is $55,300 or the 61.8% Fib retracement level of the upward move from the $53,643 swing low to the $58,000 high. The next support is now near the $54,200 zone. Any more losses might send the price toward the $53,500 support in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $56,800, followed by $55,300. Major Resistance Levels – $57,500, and $58,000.

1 Year Bitcoin Chart

1 Year Bitcoin Chart

1 Month Bitcoin Chart

1 Month Bitcoin Chart

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