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

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,185,686,257,526	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,185,686,257,526

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-3,705.17	-5.80%	60,131.37	60,124.81	60,131.37

Price Change

Price Change %

Current Price

Bid Price

Offer

-3,705.17

-5.80%

60,131.37

60,124.81

60,131.37

High Price	Low Price	Open Price	Prev. Close	52 Week Range
64,727.81	60,012.74	63,780.29	63,837.62	24,750.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

64,727.81

60,012.74

63,780.29

63,837.62

24,750.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	18:44:36	0.000033	60,132.48	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

18:44:36

0.000033

60,132.48

USD

Price x Volume	Volume	Base Symbol	Related Pairs
1,037,919,578.90	16,836.98	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

1,037,919,578.90

16,836.98

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

15/10/2021 4:28am

NEWSBTC

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 clear break above the $59,650 resistance could open the doors for more upsides. The next major resistance sits near the $60,000 level, above which the price might surge towards the $62,000 level in the near term. Dips Limited In BTC? If bitcoin fails to clear the $59,500 resistance zone, it could start a downside correction. An immediate support on the downside is near the $58,200 level. The first major support is now forming near the $58,000 level (the recent breakout zone). A downside break below the $58,000 level could spark a larger decline. The next major support is now near the $56,800 level and the 100 hourly SMA. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 60 level. Major Support Levels – $58,200, followed by $58,000. Major Resistance Levels – $59,650, $60,000 and $62,000.

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