Bitcoin bulls have regained momentum after bouncing from $43,000 to $44,000 support level. Bitcoin climbed above $55,000 psychological key level. Will BTC continues its bullish trend further in the coming days? What are the charts and technical indicators are saying? Read on to find further insights into today’s BTC/USD Technical Analysis.

JOIN OUR TELEGRAM CHANNEL? CLICK HERE

PASSIVE INCOME FROM CRYPTOCURRENCY

March 11, 2021 – Bitcoin price fall today morning during the Asian session against the U.S. Dollar. Bitcoin is currently trading around $55,400 area and trying to recover higher. After rejecting $57,500 to $58,400 key resistance level, the bears pushed the price downside quite impulsively and found support around $43,000 to $44,000 level. As per the current price action, the price may face strong resistance again around $57,500 to $58,400 key area in the coming days.

Bitcoin Climbed Above as the Investors Are Still Optimistic

Bitcoin is currently residing near $55,400 area and trying to push the price upward. Moreover, the dynamic level of 20 EMA carried the price quite strongly as a support on the daily chart.

Bitcoin Climbed Above

Image: Bitcoin 4 Hour Chart

According to the 4-hour chart, Bitcoin climbed above and currently trading around $55,400 area. As per the current price action, if the price can have an impulsive bullish candle and closes over the recent bearish candle, the bulls may push the price upward towards $57,500 to $58,400 key level in the process. So, if the price reaches $57,500 to $58,400 key area and rejects with a bearish candle, the bears may regain momentum and decline towards $52,000 to $51,000 area as a first target. The second target will be $44,000 to $43,000 support level if the price can break below $52,000 to $51,000 area in the coming days.

Furthermore, the dynamic level of 20 EMA is currently residing below the price. So, it may hold the price as strong support in the days ahead. However, the bears may regain momentum if the price can break below the dynamic level in the coming days. Also, the MACD lines are currently residing over the 0.00 level and may have a bullish crossover. It indicates that the bears may regain momentum in the process.

BTC May Continue the Bullish Trend

According to the daily chart, Bitcoin climbed above as the bulls are optimistic. As per the current price action, if the price can have a daily bearish candle, the price may retrace towards $51,000 to $52,000 support level. So, if the price retraced towards $51,000 to $52,000 support level and bounced higher with an impulsive bullish candle, the bulls may sustain the bullish trend towards $57,500 to $58,400 area as a first target. The second target will be $64,000 to $65,000 area if the price can break above $57,500 to $58,400 area in the coming days.

Bitcoin Climbed Above

 

Moreover, the dynamic level of 20 EMA is currently residing below the price. Along with the Kijun line and the Tenkan line. So, the dynamic level may hold the price as strong support. Besides, the Kijun line and the Tenkan line may work as a confluence of the dynamic level in the process.

JOIN OUR TELEGRAM CHANNEL? CLICK HERE

PASSIVE INCOME FROM CRYPTOCURRENCY

To conclude, after an extended period of volatility, the bulls have regained momentum and strikes higher. We need a strong daily candle to identify the definite momentum in the coming days. 

What's your reaction?
Happy3
Lol1
Wow0
Wtf0
Sad0
Angry0
Rip0
Leave a Comment