Bitcoin and Fierce Struggle with 60K Resistance

in HODL2 years ago

Despite the fact that Bitcoin is down 2% today, Bitcoin is still up 4% in the last 7 days.

Moreover, the full market estimate for the cryptocurrency market is close to $ 2 trillion, with very little left before it, with the overall estimate currently valued at $ 1.9 trillion.

Bitcoin and the $ 60,000 level:

Bitcoin began in April with an attempt to break and push the cost above $ 60,000, and this was the fourth endeavor since March 17th.

Unfortunately, it was rejected again, after which Bitcoin lost about $ 3,500 in the previous hours, reaching its lowest level of $ 56,000 in the "Bitstamp" exchange stage.

However, the drop found a strong aid of $ 57,000, as funds at the time this distribution was created varied between $ 57,500 - $ 58,500,000.

Image Source

Many investigators are currently focusing on two cases:

The bullish situation will be the fifth attempt to break the $ 60,000 line.

If effective, Bitcoin would end the head and shoulders with a target of $ 68,000.

The bearish position, once again, is where the examiners accept that Bitcoin should hold the range of $ 54-56k, which is full of demand, in the event of a crash, $ 50k will be in danger again.

Supports and resistances to the BTC value to check:

Key Support Levels: $ 56,000, $ 54,000, $ 52,000, $ 50,000.

Key resistance levels: $ 58,000, $ 60,000, $ 61,000, $ 62,000, and $ 65,000.

After overcoming a $ 60,000 block, Bitcoin is required to try an opposition with a previous recorded cost of $ 61,700.

5 Days Chart Source

By @natalia-irish

Thank You

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Hi @natalia-irish

Nice TA/.

Coming back when my voting power recovers :)

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Interesting analysis, I wish for a drop to 50k maybe pulling down ALTs with it hopefully, I want to buy some dip 😃

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