Bitcoin Price Analysis: BTC looks set to refresh record top above $58,000


  • BTC/USD takes the bids near the all-time high marked during previous month.
  • Bullish MACD contradicts overbought RSI inside ascending trend channel.

Bitcoin bulls are hammering the record top marked in February while taking the bids near $58,000 during early Friday. The crypto major gains support from upbeat MACD inside a bullish chart pattern to cross the previous all-time high of $58,355.

However, overbought RSI conditions seem to challenge the BTC/USD bulls afterward, which if ignored could escalate the rally towards the upper line of an ascending trend channel from early January, currently around $65,000.

It should be noted that the stated run-up may catch a breather near the $60,000 threshold.

On the contrary, the early month top near $52,650 can test short-term pullback of the BTC/USD ahead of the channel’s support, at $47,790 now.

In a case where the cryptocurrency pair defy the bullish chart pattern with a daily closing below $47,790, its drop below the latest swing low of $43,065 can’t be ruled out.

To sum up, Bitcoin bulls are in the driver’s seat during the journey to a fresh record top.

BTC/USD daily chart

Trend: Bullish

Additional important levels

Overview
Today last price 57935.72
Today Daily Change 2060.58
Today Daily Change % 3.69%
Today daily open 55875.14
 
Trends
Daily SMA20 50785.67
Daily SMA50 44000.55
Daily SMA100 35650
Daily SMA200 24286.37
 
Levels
Previous Daily High 57396.76
Previous Daily Low 53032.7
Previous Weekly High 52646.22
Previous Weekly Low 43065.14
Previous Monthly High 58355.76
Previous Monthly Low 32336.85
Daily Fibonacci 38.2% 55729.69
Daily Fibonacci 61.8% 54699.77
Daily Pivot Point S1 53472.98
Daily Pivot Point S2 51070.81
Daily Pivot Point S3 49108.91
Daily Pivot Point R1 57837.04
Daily Pivot Point R2 59798.93
Daily Pivot Point R3 62201.1

 

 

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