Bitcoin Resumes Bullish Momentum, Targets $57,840 Milestone
Login

Bitcoin Resumes Bullish Momentum, Targets $57,840 Milestone

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more


Bitcoin Targets $57,840 as Bullish Momentum Reignites

Bitcoin crypto resumes bullish momentum, targets the $57,840 milestone. The cryptocurrency market has been on a wild ride lately, and Bitcoin, the flagship digital asset, is no exception. After facing bearish pressure in recent weeks, Bitcoin has now resumed its bullish momentum, with the price making a strong push towards the crucial $57,840 price level.


Bitcoin Price Levels

Resistance Levels: $65000, $71000
Support Levels: $57800, $60000
Bitcoin Resumes Bullish Momentum, Targets $57,840 Milestone The recent bullish resurgence in Bitcoin’s price started towards the end of last week, as the buyers managed to keep a straight face and maintain their momentum. This comes after a period of selling pressure, where the sellers had attempted to breach the $49,000 significant zone at the beginning of August.

The crypto price began to correct itself as the buyers pushed the price back up to the $65,000 significant level. However, the sellers made another attempt to cause a dip in the price. However, this time, they failed to reach the $49,000 market zone and were stuck at pushing the price down to the $52,800 significant zone.

The beginning of this week has been a major recovery period for the buyers, as the bullish momentum is currently approaching the $57,800 key zone. The Momentum indicator is making an attempt to push back into the positive area. Also the Parabolic SAR (Stop and Reverse) indicator has just changed direction to the bullish side.


Market Expectation

On the short-term timeframe, the buyers continue to give their all, but the $57,800 key level might prove to be a challenging feat for them. The market is already consolidating below this key zone, hoping for a breakout.
Bitcoin Resumes Bullish Momentum, Targets $57,840 Milestone However, the Momentum indicator and Parabolic SAR indicator remain on the rise, suggesting that the bullish momentum is still intact. If the buyers are able to breach the $57,840 level, it could open the door for further upside potential in the Bitcoin market. This will be considered in the best crypto signals.

Make money without lifting your fingers: Start using a world-class auto trading solution 

How To Buy Lucky Block

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, product, or event. We are not responsible for your investment results.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News