Bitcoin Buyers Press Higher And Aim to Break Past $59,600 Resistance Level

Bitcoin Bulls Regain Momentum to Target a Break Above the $59,600 Resistance Level

The Bitcoin crypto buyers press higher and aim to break past the $59,600 resistance level. The Bitcoin price has settled higher today, with the king of the crypto market responding to the buyers’ efforts to fight back against the bearish pressure it has faced for over a month.

BTCUSD Key Levels

Resistance Levels: $67,320, $71,900
Support Levels: $60,000, $52,000
Looking back, the storm that hit the buyers at the $72,000 price level gave the crypto market away, as the bears flooded through several key levels, even into this month. Following a pullback to the $63,970 market area, the sellers drove the price down to $53,470 last week. However, Bitcoin has now managed to recover, and a pullback is currently seen towards the $60,000 market area.

The RSI (Relative Strength Index) indicator is responding to the buyers’ firmness, suggesting improving buy-side sentiment. The Money Flow Index, on the other hand, still shows that the sellers are controlling the major funds. This indicates that the battle between the buyers and sellers is far from over.

Market Expectation

Nonetheless, the buyers are keeping the tempo high in the shorter timeframe, and there is a corresponding rise in both the Money Flow Index and RSI indicator. The bulls are likely to trade towards the $60,000 level, and a breach past this key level is also plausible.
The buyers’ determination to push the BTC price higher is evident, and they seem poised to challenge the $59,600 resistance level in the near term. Monitoring crypto signals will be crucial for traders navigating this upward movement.

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