Hello Guys today were are knowing the lastest Bitcoin price analysis BTC the Next Target is $60000 follow today breakout and also new rate will reach soon check out the resistance level and support level of market.
TC Next Target $60K Follow Today’s Breakout
Bitcoin saw a 7.5% price increase today as the cryptocurrency market raised by a total of $1,640 to clim back above $54,000, for the first time from February 22.
Looking at the last 20 trading days, BTC had bounced from support at $47,200 over the endweek as it closed the daily candles above the critical 20-day EMA. On Sunday, it managed to breakout above $50,000 2nd time , market allowed it to push higher and close yesterday’s market at $52,480 (bearish .618 Fib Retracement and crucial resistance area).
Today, Bitcoin continued above $52,480 but encountered the next major resistance at $54,000, where it is currently trading now.
As mentioned in our above analysis, an inverse Head & Shoulders pattern was forming on the 4-hour charts, indicated by the blue curves. In addition to the present , there have been also hints of bullish divergence showing toward the top of February, indicating the bearish pressure could be coming to a halt, along side rising demand around the $47-48K area, which marked a local bottom.
The surge above $52,480 today allowed Bitcoin to break the neckline of the H&S pattern as it starts to play out. The termination level of this pattern would provide a new ATH price at $60,736.
BTC Price Support and Resistance Levels to Watch
Key Support Levels: $53,000, $52,480, $51,000, $50,000, $47,200.
Key Resistance Levels: $54,000, $55,000, $56,112, $57,685, $58,355, $59,718 – $60,000.