{"id":288385,"date":"2021-05-05T17:23:22","date_gmt":"2021-05-05T21:23:22","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=288385"},"modified":"2021-05-06T06:18:06","modified_gmt":"2021-05-06T10:18:06","slug":"btc-usd-long-term-trend-ranging-daily-chart-41","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/btc-usd-long-term-trend-ranging-daily-chart-41","title":{"rendered":"Bitcoin Price Prediction: BTC\/USD Breaks Resistance to Reclaim $57,000"},"content":{"rendered":"

Bitcoin (BTC) Price Prediction \u2013 March 5<\/strong><\/p>\n

BTC\/USD is up by more than 6.94% after a sudden and bullish price spike.<\/p>\n

BTC\/USD Long-term Trend: Ranging (Daily Chart)<\/h4>\n

Key levels:<\/p>\n

Resistance Levels: $62,000, $64,000, $66,000<\/p>\n

Support Levels: $48,000, $46,000, $44,000<\/p>\n

\"\"<\/a>
BTCUSD – Daily Chart<\/figcaption><\/figure>\n

The daily chart reveals that BTC\/USD<\/a> has pushed above the crucial resistance level of $56,500. The coin is moving towards $57,000 to trade at $56,914 at the time of writing.<\/p>\n

Bitcoin is exhibiting strong bullish momentum after what could be a sustainable break above an important technical level.<\/p>\n

Meanwhile, BTC\/USD has gained more than 6% since the beginning of the day \u2013 it is currently using support at $53,000 as a foundation to develop further upside momentum. There are signs of this upside move now gaining traction.<\/p>\n

Bitcoin price prediction \u2013 BTC back above $60,000?<\/h2>\n

With the number one coin holding above its moving averages, the return below $57,000 could set the framework for gains towards $60,000.<\/p>\n

Meanwhile, the technical analysis shows that the bulls are ready for action, especially when the up-trending RSI (14) is considered. Therefore, any further bullish movement towards the upper boundary of the channel could pave the way for gains above $58,500, before reaching the resistance levels of $62,000, $64,000, and 66,000.<\/p>\n

Looking at the downside, if the price falls back below the $55,000 level and moves to cross below the lower boundary of the channel, the bears could take control over the situation very quickly. This may serve as a major blow to market sentiment, as traders could interpret it as a sign of underlying weakness. The next critical support is likely at $52,000, probably followed by $48,000, $46,000, and $44,000 support levels.<\/p>\n

BTC\/USD Medium – Term Trend: Bullish (4H Chart)<\/h4>\n

The 4-hour chart shows the price failing to stay above the moving averages \u2013 a sign of market weakness. However, the intraday trading is looking bullish; following the recent rebound at $53,000, which is the key support level. If bitcoin trades below the moving averages, it could test the next key support level at $55,000.<\/p>\n

\"\"<\/a>
BTCUSD – 4 Hour Chart<\/figcaption><\/figure>\n

But against the backdrop of the recent sharp rebound, the bitcoin price may re-commence the bullish rally to challenge resistance at $57,000. A climb above that level may encourage bulls to target a breach of the next significant resistance level at $59,000.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) Price Prediction \u2013 March 5 BTC\/USD is up by more than 6.94% after a sudden and bullish price spike. BTC\/USD Long-term Trend: Ranging […]<\/a><\/div>","protected":false},"author":1742,"featured_media":288386,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[734,5319,7991,7992],"class_list":["post-288385","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news","tag-bitcoin","tag-btc","tag-btcusd","tag-technical-analysis"],"acf":[],"yoast_head":"\nBitcoin Price Prediction: BTC\/USD Breaks Resistance to Reclaim $57,000<\/title>\n<meta name=\"description\" content=\"Read our bitcoin price prediction after a sudden bullish price spike that saw BTC\/USD advance around 7% as it reclaims $57,000.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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