{"id":5761,"date":"2024-09-12T02:59:17","date_gmt":"2024-09-12T02:59:17","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=5761"},"modified":"2024-09-12T02:59:17","modified_gmt":"2024-09-12T02:59:17","slug":"bitcoin-price-rises-steadily-will-it-reach-60k-next","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=5761","title":{"rendered":"Bitcoin Price Rises Steadily: Will It Reach $60K Next?"},"content":{"rendered":"

Bitcoin price started a decent increase above the $57,500 resistance. BTC is now showing positive signs and might aim for a move toward $60,000.<\/em><\/p>\n

Bitcoin is attempting a fresh increase above the $57,000 support zone.
\nThe price is trading above $57,200 and the 100 hourly Simple moving average.
\nThere was a break above a short-term declining channel with resistance at $56,650 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could extend gains if it clears the $58,500 and $58,800 resistance levels in the near term.<\/p>\n

Bitcoin Price Eyes More Upsides<\/h2>\n

Bitcoin price started a decent increase<\/a> after it broke the $56,200 resistance zone. BTC was able to climb above the $57,000 resistance. There was also a break above a short-term declining channel with resistance at $56,650 on the hourly chart of the BTC\/USD pair.<\/p>\n

The pair even cleared the $58,000 resistance zone. It traded as high as $58,450 and is currently consolidating gains. It is positioned above the 23.6% Fib retracement level of the upward move from the $55,548 swing low to the $58,450 high.<\/p>\n

Bitcoin is now trading above $57,200 and the 100 hourly Simple moving average<\/a>. On the upside, the price could face resistance near the $58,500 level.<\/p>\n

<\/a><\/p>\n

The first key resistance is near the $58,800 level. A clear move above the $58,800 resistance might start a steady increase in the coming sessions. The next key resistance could be $59,500. A close above the $59,500 resistance might spark more upsides. In the stated case, the price could rise and test the $60,000 resistance.<\/p>\n

Another Dip In BTC?<\/h2>\n

If Bitcoin fails to rise above the $58,500 resistance zone, it could start another decline. Immediate support on the downside is near the $57,500 level.<\/p>\n

The first major support is $57,000 or the 50% Fib retracement level of the upward move from the $55,548 swing low to the $58,450 high. The next support is now near the $56,000 zone. Any more losses might send the price toward the $55,500 support in the near term.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n

Major Support Levels \u2013 $57,000, followed by $56,000.<\/p>\n

Major Resistance Levels \u2013 $58,500, and $58,800.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price started a decent increase above the $57,500 resistance. BTC is now showing positive signs and might aim for a move toward $60,000. Bitcoin is attempting a fresh increase above the $57,000 support zone. The price is trading above $57,200 and the 100 hourly Simple moving average. There was a break above a short-term […]<\/p>\n","protected":false},"author":0,"featured_media":5762,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-5761","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/5761"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5761"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/5761\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/5762"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}