Bitcoin’s price has the potential for further gains as it is attempting to surpass the $52,800 resistance level to continue its upward movement. The price has already broken above the $52,000 level and the 100 hourly Simple Moving Average.
Additionally, a bearish trend line was breached, indicating a positive trend. If Bitcoin clears the $52,800 resistance, it could rally toward $53,200 and reach the $54,000 and $55,000 resistance levels.
However, if it fails to break the resistance, a downside correction may occur, with support levels at $51,850 and $51,300. The technical indicators, such as the MACD and RSI, suggest a bullish trend for Bitcoin in the near term.
Source: NEWSBTC
BTC Surges towards $53,000 as Bulls Target New Highs, Overcoming Key Resistance Levels
