#BTCUSD price is facing a short-term resistance near the $57,500 and $58,000 levels. A clear break above the $58,000 resistance could open the doors for a new all-time high. In the stated case, the bulls are likely to aim a test of $60,000.
If bitcoin fails to clear the $58,000 resistance zone, it could correct lower. An initial support on the downside is near the $56,000 level.
The first major support is near the $55,000 level. If there is a downside break below the trend line, $55,000, and the 100 hourly simple moving average, there could be a drop towards the $52,000 support.
If bitcoin fails to clear the $58,000 resistance zone, it could correct lower. An initial support on the downside is near the $56,000 level.
The first major support is near the $55,000 level. If there is a downside break below the trend line, $55,000, and the 100 hourly simple moving average, there could be a drop towards the $52,000 support.