Bitcoin

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The important $60,000 barrier has been crossed by <a href="https://u.today/shiba-inu-shib-whats-happening-is-this-bitcoin-btc-resistance-unbreakable-ethereum-eth-on-verge-of" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) once more, but the market is still cautious with significant resistance to this rally in the near future. BTC was trading just above the 200 EMA at $59,548 after a brief spike above $60,000 that was followed by a wave of selling pressure that swiftly drove the price back down. Although reaching $60,000 is a significant psychological boost, it is important to keep an eye on critical levels that may determine Bitcoin's short-term <a href="https://app.intotheblock.com/coin/SHIB/deep-dive?group=all&amp;chart=all" rel="noopener noreferrer nofollow">course</a>.
The $60,000 mark has considerable psychological significance in the market, it is not just a round number. Bulls and bears have historically fought fiercely for this level, making it a crucial battleground. <img alt="BTCUSDT" data-entity-type="file" data-entity-uuid="15958ef1-1d77-4d8e-a46a-36d4ec337ae1" src="https://u.today/sites/default/files/inline-images/image_1109.png"><a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow">BTC/USDT Chart by TradingView</a>
Bitcoin tends to draw both buying and selling activity whenever it crosses over $60,000, which increases volatility. Thus, it is imperative to keep an eye on $60,000 as well. Bitcoin might gain enough traction to test higher resistance levels if it can continue trading above this mark.
The next immediate resistance level is located just above $60,000. Further significance is added when one notices that this level aligns with the daily chart's 50 EMA. In the past, when <a href="https://u.today/shiba-inu-shib-whats-happening-is-this-bitcoin-btc-resistance-unbreakable-ethereum-eth-on-verge-of" rel="noopener noreferrer nofollow">BTC</a> reached this level, it has frequently experienced severe pullbacks as a result of its inability to sustain rising momentum. Failure to do so might lead to a retest of lower support levels. However, breaking and holding above $61,000 could open the door for a longer-term rally.
Support for 200 EMA is at $59,548. At $59,548, the 200 exponential moving average Bitcoin is currently trading at. This moving average will be critical in figuring out <a href="https://u.today/samson-mow-uncovers-incredibly-bullish-bitcoin-setup" rel="noopener noreferrer nofollow">Bitcoin's</a> next move as it has historically served as a solid support level. If this level is held, it may serve as a springboard for a possible recovery; if it is broken, additional downside may be indicated with a potential return to the $58,000-$57,000 region.

Bitcoin (BTC) $60,000 Reached: 3 Levels to Watch

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