Bitcoin price started a fresh rise above the $ 55,000 resistance zone against the US Dollar. According to the famous analyst Aayush Jindal, who made successful predictions, the Bitcoin price tested $ 58,500 and remained on the rise towards the $ 60,000 zone.
- Bitcoin price shows positive signs and recently tested the $ 58,500 resistance zone.
- The price is currently trading well above $ 55,000 and the average of 100 simple moves (4 saadollarsik).
- There is an important bullish trend line formed with support close to $ 55,400 on the 4-saadollarsik chart of the BTC / USD pair (data flow from Kraken).
- The pair may correct losses, but it is likely to start a steady rise towards the $ 60,000 level, according to the analyst.
Analyst: Bitcoin price could start a steady rise towards the $ 60,000 level!
Recently, bitcoin price remained stable above the $ 52,500 support zone against the US Dollar. The BTC / USD pair started to rise steadily, overcoming several key hurdles around $ 55,000. The price even broke the $ 56.500 resistance and extended its rally. There was an increase above the $ 58,000 level, but the price was strained near the $ 58,500 zone. A high was formed around $ 58.494 and the price is currently correcting at a lower level.
BTC traded below the $ 57,500 level. 23% of the upward move. Below the 6 Fib retracement level, there was a break. On the downside, according to the analyst, there is a large support formed near the $ 55,500 zone. Also, there is an important bullish trend line formed with support near $ 55.400 on the 4-timetable chart of the BTC / USD pair. The trendline is near the 50% Fib retracement level of the move from $ 52.489 to $ 58.494.
Here are the levels that Bitcoin price can see in the next sessions
On the upside, bitcoin price is facing major resistance near the $ 58,000 and $ 58,500 levels. A successful close above the $ 58,000 and $ 58,500 resistance levels could open the doors for a new rise towards the $ 60,000 barrier, according to the analyst.
If the bitcoin price fails above the $ 58,000 level, there is a risk of a downside correction. The first major support is near the $ 55.500 level and the trendline zone, according to the analyst. The next major support is near the $ 55,000 level and the 100 SMA, according to the analyst. Further losses could require a new drop towards the $ 52.500 support level, according to the analyst.
Current view of Bitcoin price with technical indicators
4 saadollarsik MACD: The MACD for BTC / USD is losing momentum in the bullish zone.
4 saadollarsik RSI (Relative Strength Index): The RSI for BTC / USD is currently well above the 50 level.
Major Support Level: 55. $ 500 USD.
Main Resistance Level: $ 58.500.
Successful predictions of analyst Aayush Jindal, established the market
Famous crypto money analyst Aayush Jindal is a name who has successfully analyzed tactics in Bitcoin, Ethereum, Ripple, Chanlink and many altcoins. Aayush Jindal has a history of successfully setting critical levels for many cryptocurrencies. The veteran analyst also correctly predicted the recent drop of BTC to $ 28,500. In addition, the analyst successfully predicted the trend of BTC’s price movements in recent weeks.