Bitcoin Attempts Recovery, Will BTC Revisit $60K?

 2021-11-30 09:04:14

Bitcoin started a fresh increase above $56,000 against the USDT. BTC could extend recovery and it might revisit the $60,000 resistance in the near term.


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From the hourly chart above, Bitcoin price found support near the $53,500 level and started a fresh increase. BTC broke the $55,000 resistance zone to start a decent recovery wave. The next key resistance is near the $58,500 level.

 

A close above the $58,000 and $58,500 levels may possibly push the price towards $60,000. If there is a close above the $60,000 level, the price could accelerate higher. If bitcoin fails to clear the $58,000 resistance zone, it could start a fresh decline.

 

However, from the 100 hourly simple moving average, BTC might just keep trading around the line. That said, it might not be able to break $60,000 today and we need to see another day.


Technical indicators:

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

Hourly RSI (Relative Strength Index) – The RSI is now below the 50-level.

Major Support Levels – $57,000, followed by $56,500.

Major Resistance Levels – $58,000 and $58,500.


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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