Bitcoin Price Prediction Hitting $ 55,000, Bitcoin Bulls To Aim For $ 60,000

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For the afternoon to come

Bitcoin should avoid a fall through the $ 53,839 pivot to bring into play the first major resistance level at $ 57,239.

However, broad market support will be needed for Bitcoin to break out of Wednesday’s $ 55,743.0 high.

Barring a large scale crypto rally, the first major resistance level would likely cap any upside potential.

In the event of another extended rally throughout the afternoon, Bitcoin could test resistance at the $ 60,000 levels before any pullbacks. The second major resistance level is located at $ 59,144.

A fall through the $ 53,839 pivot would bring into play the first major support level at $ 51,934.

Unless an extended afternoon sell-off, however, Bitcoin should avoid support levels below $ 50,000 and the second major support level at $ 48,534.

The 23.6% FIB of $ 50,473 should limit any downside.

Beyond the support and resistance levels, we saw the 50 EMA move away from the 100 and 200 EMA during the morning.

We also saw the 100 EMA move away from the 200 EMA limiting the morning losses.

In the 2nd half of the day, another widening of the 50 EMA from the 100 would bring in $ 57,000 and beyond.

The key in the late morning and early afternoon, however, would be to avoid a fall through the $ 53,839 pivot.

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