Bitcoin

Strong

Momentum

Resistance

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-continues-bullish-trend/" data-wpel-link="internal">Bitcoin Price Continues Bullish Trend</a><br></p>
<p style="text-align: justify">Recently, the activity in the <strong>cryptocurrency</strong> world, especially the price of <a href="https://coin-turk.com/analist-btc-eth-ve-bu-altcoine-dikkat" data-wpel-link="internal">Bitcoin</a>, is creating noticeable effects. Currently, there is an observed increase of over 10% in the price of <a href="https://en.coin-turk.com/bitcoin-and-cryptocurrencies-commentary-market-analysis-and-predictions/" data-wpel-link="internal">Bitcoin</a>, indicating a trend towards the $58,000 levels. However, the price may need to gain more momentum to surpass the $60,000 resistance level.</p> 
<h2 style="text-align: justify" id="bitcoin-price-exhibits-strong-performance-above-key-resistance">Bitcoin Price Exhibits Strong Performance Above Key Resistance</h2> 
<p style="text-align: justify"><strong><a href="https://coin-turk.com/fed-acikladi-bitcoin-yeniden-10-000-dolar-uzerine-cikti" data-wpel-link="internal">BTC</a></strong>/USD pair is showing solid performance above the $55,000 resistance area. Trading above the $55,000 level and the 100-hour simple moving average is significant in indicating the continuation of the bullish trend. Particularly when examining the hourly chart, the break above the downward trend line at the $51,600 level suggests the pair’s current rally could extend to the $60,000 resistance zone.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-319936 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/btc-bitcoin-coin-turk-com-1-4.png" alt="" width="1272" height="542"></p> 
<p style="text-align: justify">It’s also clear that the cryptocurrency Bitcoin is entering a period of new fluctuations. The price, hovering above the $50,500 support, has formed a support base above the $51,500 level and initiated a new rally. With the break above the $51,600 and $52,000 levels, the price gained upward momentum and started to overcome significant resistance levels.</p> 
<p style="text-align: justify">A major downward trend line has been breached on the hourly chart, with the price climbing towards the $55,000 level, overcoming many obstacles. However, it is also observed that the price, currently at $57,073, is experiencing a pullback.</p> 
<h2 style="text-align: justify" id="more-momentum-may-be-required">More Momentum May Be Required</h2> 
<p style="text-align: justify">Bitcoin’s price may need to gain additional momentum to reach the $56,800 and then the $57,000 levels. In particular, surpassing the $58,000 resistance area could lead to the price testing the $58,800 level. However, overcoming the $60,000 level remains the biggest challenge for the bulls.</p> 
<p style="text-align: justify">Alongside this potential upward increase, the risk of a downward correction for the cryptocurrency Bitcoin should not be overlooked. Specifically, a correction movement could be observed if the price falls below the $55,000 level.</p> 
<p style="text-align: justify">The fluctuations in the flagship cryptocurrency Bitcoin’s price may continue, and it is important to closely monitor technical indicators. As of writing this article, we see a pullback in the Bitcoin price from the $57,073 level. The cryptocurrency Bitcoin price is trading at $55,908 while writing, and whether the price will continue to rise depends on seeing levels above $57,000.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-price-continues-bullish-trend/" data-wpel-link="internal">Bitcoin Price Continues Bullish Trend</a></h5>

Bitcoin Price Continues Bullish Trend

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