Bitcoin Price is Gaining Pace, Will It Break The Resistance $56K?

 2021-04-27 09:57:55


Earlier, Tesla announced that it bought BTC for $1.5 billion, which directly promoted the market’s explosion, but the recent sell-off of $272 million did not have a negative impact on the market in time. The reason may be that Musk said that he himself did not sell Bitcoins and Is still a firm long-term holder. However, if subsequent reports of large-scale BTC sales are announced, the market may inevitably undergo a major correction.


BTC Market Analysis:

Bitcoin is currently trading at $54,600. The market continued to fluctuate and rise last night (Apr. 26th, UTC), and then started a new round of high range fluctuations this morning, but the short-term strength did not quickly widen the gap, and the short-term sideways adjustment is likely to continue. Bitcoin fluctuated upwards and continued to stabilize at $54,000 today, and the bulls are targeted at $56,000, and then $57,000. 


Current Technical Indicators:

Hourly MACD – The MACD is slowly gaining pace in the bullish zone.

Hourly RSI – The RSI is now well above the 60 level.

Major Support Levels – $53,000, followed by $51,250.

Major Resistance Levels – $55,000, $56,000 and $57,000.

DISCLAIMER: The analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal. Every investment and trading move involves risk. You should conduct your own research when making a decision.

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