Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Bitcoin Price Bounce Back: Could the Recovery Lose Momentum?

Share This Post

Bitcoin price started a recovery wave after it crashed below $50,000. BTC is back above $55,000 and faces many hurdles near the $58,000 zone.

  • Bitcoin started a recovery wave above the $52,500 and $55,000 levels.
  • The price is trading below $58,000 and the 100 hourly Simple moving average.
  • There was a break above a connecting bearish trend line with resistance at $55,100 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair might struggle to clear the $58,000 resistance zone.

Bitcoin Price Starts Recovery Wave

Bitcoin price extended losses below the $52,500 support zone. BTC even traded below the $51,100 and $50,000 levels. A low was formed near $49,111 and the price recently started a recovery wave.

It recovered above the $52,500 level and tested the 50% Fib retracement level of the downward move from the $61,040 swing high to the $49,111 low. There was a break above a connecting bearish trend line with resistance at $55,100 on the hourly chart of the BTC/USD pair.

Bitcoin price is still trading below $58,000 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $56,500 level. It is near the 61.8% Fib retracement level of the downward move from the $61,040 swing high to the $49,111 low.

The first key resistance is near the $58,250 level. A clear move above the $58,250 resistance might send the price further higher in the coming sessions. The next key resistance could be $58,800.

Bitcoin Price

The next major hurdle sits at $60,000. A close above the $60,000 resistance might spark bullish moves. In the stated case, the price could rise and test the $62,000 resistance.

Another Decline In BTC?

If Bitcoin fails to recover above the $58,000 resistance zone, it could start another decline. Immediate support on the downside is near the $55,000 level.

The first major support is $53,500. The next support is now near $52,000. Any more losses might send the price toward the $50,000 support zone in the near term.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $55,000, followed by $53,500.

Major Resistance Levels – $56,500, and $58,000.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Why the Crypto Market Is Up Today? Bitcoin Hits $112K, Ethereum Price Jumps 5.5%

The post Why the Crypto Market Is Up Today Bitcoin Hits $112K, Ethereum Price Jumps 55% appeared first on Coinpedia Fintech News The crypto market is buzzing with excitement as Bitcoin smashed

Shiba Inu’s Shibarium Struggles As New Accounts Crash To Fresh Lows

Following its launch by the Shiba Inu team back in August 2023, the Shibarium network has been subject to the highs and lows of the market Despite coming from a team with a large community, the

VeChain Launches Bridge Enabling Interoperability With Bitcoin, Ethereum, and 40 More Cryptos

VeChain has announced the launch of its bridge through an integration with Wanchain, enabling interoperability with bitcoin, ethereum, and over 40 other leading blockchains This milestone marks a

Donald Trump’s Crypto Dinner: What to Expect, Top Attendees 

The post Donald Trump’s Crypto Dinner: What to Expect, Top Attendees  appeared first on Coinpedia Fintech News On May 22, 2025, the Trump National Golf Club in Virginia will host a special event

Bitcoin price reaches new ATH above $111,000 as institutional interest peaks

Bitcoin has climbed to a new record high, surpassing $111,000, as institutional buyers push capital into the crypto market Data from CryptoSlate shows Bitcoin reached a peak of $111,782 before

‘Crypto Czar’ Sacks: Stablecoin Rules Could Unlock Trillions for U.S. Treasuries “Overnight” 

The post ‘Crypto Czar’ Sacks: Stablecoin Rules Could Unlock Trillions for US Treasuries “Overnight”  appeared first on Coinpedia Fintech News Could the US unlock trillions overnight –