Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»EXCHANGE NEWS»Is a gradual rise expected?
EXCHANGE NEWS

Is a gradual rise expected?

By Crypto FlexsAugust 26, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Is a gradual rise expected?
Share
Facebook Twitter LinkedIn Pinterest Email

Bitcoin price is holding steady above the $60,000 zone. BTC is currently consolidating its uptrend, and the bulls could target a move above the $62,000 resistance zone.

  • Bitcoin has started a consolidation phase above the $60,000 level.
  • The price is trading above $59,500 and the 100 hourly simple moving average.
  • According to data provided by Kraken, there is a major bullish trend line forming with support at $59,800 on the hourly chart of BTC/USD.
  • The pair is likely to attempt a new uptrend if it breaks the $61,500 resistance zone.

Bitcoin price continues to rise

Bitcoin price remained stable above the $58,500 pivot level. BTC formed a base and began a steady rise above the $60,000 resistance zone. The price rose above the $60,200 and $60,500 resistance levels.

The bulls were able to push the price above the 23.6% Fibonacci correction level of the downward move from the $61,800 swing high to the $59,805 low. The current price action is positive and the bulls can look to take further gains above the $60,800 resistance zone.

Bitcoin is currently trading above $60,200 and the 100-hourly simple moving average. The price is currently consolidating near the 50% Fibonacci correction level of the downtrend from the $61,800 swing high to the $59,805 low.

In the uptrend, the price may face resistance near the $60,800 level. The first major resistance is near the $61,800 level. If the $61,800 resistance is clearly surpassed, the price may move higher in the coming session. The next major resistance may be $62,000.

Source: BTCUSD on TradingView.com

A close above the $62,000 resistance level could lead to further upside. In that case, the price could rise and test the $63,500 resistance level.

Bitcoin Another Downtrend?

If Bitcoin fails to break above the $61,800 resistance zone, a downward correction could begin. Immediate support for the downside is near the $60,200 level.

The first major support is at $59,800. The next support is now near the $58,500 area. If there is further loss, the price could move to the $58,000 support area, or in the short term, to $57,500.

Technical indicators:

Hourly MACD – MACD is now gaining speed in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently above the 50 level.

Key support levels – $60,200, then $59,800.

Key resistance levels – $60,800 and $61,800.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin prices return to green -building exercise for more profits

June 26, 2025

Dogecoin (DOGE) after collision

June 23, 2025

Litecoin Key Support in Focus Price Eye Brake Out Determination

June 20, 2025
Add A Comment

Comments are closed.

Recent Posts

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Earns $9,800 Per Day With BTC Breaks Through $107,000, GoldenMining Global Market.

June 27, 2025

Why Bakkt Holdings can buy Bitcoin with a $ 1 billion increase

June 27, 2025

NVIDIA RTX strengthens FITY’s AI -centered innovation in Cooler Design.

June 27, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025
Most Popular

Bitcoin Dominance Reaches Peak? Analysts Call It Altcoin Season

September 23, 2024

MetaRama Enhances AI Study Buddy’s Conversational Abilities on WhatsApp and Messenger

July 29, 2024

Bitcoin Bulls Keep Pushing On and Why the Increase Isn’t Over Yet

January 31, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.