Bitcoin

<p>Bitcoin is demonstrating increased bullish pressure, which may be observed from its ability to break through significant resistance levels. As shared by an analyst, VeLLa Crypto, the cryptocurrency settled above the daily support and resistance level at $57,470.</p><p></p><p>One would consider this as a move to continue the pump toward the $62,000 — $62,800 range. Another analyst, Jelle, echoed this by reckoning Bitcoin’s past performance in September to signal more increases.</p><h2 id="header-0">Daily Close Contributes to the Force</h2><p>VeLLa Crypto remarked that daily support and resistance levels are essential, and <a href="https://cryptotale.org/bitcoin-ethereum-whale-transactions-drop-since-march-peak/" rel="noopener noreferrer nofollow">Bitcoin</a> has closed above the crucial daily support and resistance level. This positive trend has been achieved alongside negative funding rates, implying that more traders are short-selling in the market. Notably, traders who had short-sold were coerced into buying them, and this could push the price up. The next areas of interest are $ 62,000 and $ 62,800.</p><p>Related: <a href="https://cryptotale.org/bitcoin-sentiment-soars-as-blackrock-calls-it-a-global-hedge/" rel="noopener noreferrer nofollow">https://cryptotale.org/bitcoin-sentiment-soars-as-blackrock-calls-it-a-global-hedge/</a></p><h2 id="header-1">Key Support and Resistance Levels</h2><p>The first level of sustainable support for Bitcoin lies at $56,500, where the price has formed a rebound. Should the price return back to this level, then it should be strong enough to bar a deeper pullback. On the other hand, the resistance areas are estimated to be at $60,791 and $62,877. Should Bitcoin break these levels, then the upward trajectory may be sustained even further and reach high targets.</p><p><a href="https://cryptotale.org/btc-bulls-target-62k-after-strong-daily-close-above-57470/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a></p><p><strong>Visit the links for more information </strong><a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|</p>

BTC Bulls Target $62K After Strong Daily Close Above $57,470

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