TA: Bitcoin Settles Above 100 SMA, Why BTC Could Retest $60K

TA: Bitcoin Settles Above 100 SMA, Why BTC Could Retest $60K


Bitcoin price started a fresh increase and it cleared the $58,250 resistance against the US Dollar. BTC is now showing positive signs and it might soon revisit $60,000.

Bitcoin started a fresh increase above the $58,000 and $58,250 resistance levels. The price is now trading nicely above $58,250 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $58,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is now consolidating above the 100 hourly SMA and it might continue higher towards $60,000. Bitcoin Price Breaks Key Resistance

Bitcoin formed a support base above the $57,000 level and recently started a fresh increase. BTC broke a couple of key hurdles near $57,500 and $58,250 to move into a positive zone.

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There was a break above the $58,500 resistance zone and the 100 hourly simple moving average. Moreover, there was a break above

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