TA: Bitcoin Price Breaks Hurdle, Here’s Why Bulls Could Aim $58K

TA: Bitcoin Price Breaks Hurdle, Here’s Why Bulls Could Aim $58K


Bitcoin price gained pace and it cleared the $53,000 resistance zone against the US Dollar. BTC is consolidating and it seems ready for more gains above $54,000.

Bitcoin remained well bid and it was able to clear the $53,000 resistance. The price is now trading well above $52,000 and the 100 hourly simple moving average. There is a key contracting triangle forming with resistance near $54,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to continue higher above the $54,000 and $54,500 resistance levels. Bitcoin Price is Gaining Pace

Bitcoin remained well supported above the $51,000 level and it managed to extend gains. BTC gained bullish momentum above the $52,000 resistance and the 100 hourly simple moving average.

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It even cleared the $53,000 and $53,500 resistance levels. A high is formed near $54,455 and the price is now consolidating gains. It already tested the $53,000 support level. The 23.6%

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