Bitcoin price gained bullish momentum above $50K and traded to a new all-time high at $57,500 against the US Dollar. BTC remains supported and it is likely eyeing a test of $60,000.
Bitcoin climbed above the $50,000 resistance and traded to a new all-time high near USD 57,500. The price is trading nicely above the $55,000 level and the 100 simple moving average (4-hours). There is a key bullish trend line forming with support near $54,000 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is showing a lot of positive signs and the bulls seems to eyeing a test of $60,000. Bitcoin Price is Gaining Traction
This past week, bitcoin price extended its rise above the key $50,000 resistance zone against the US Dollar. The BTC/USD pair even broke the $55,000 level and settled well above the 100 simple moving average (4-hours).
It traded to a new all-time high near $57,500