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Bitcoin Price Prediction — A Breakthrough to $59,500 is Required to Restore $60,000
At $58,000, Bitcoin bulls are struggling. However, a breakthrough from $58,500 would put $60,000 levels back into play.
Bitcoin was up 0.20 percent to $57,078 at the time of writing.
Bitcoin rose to an early morning high of $57,879 before falling to a late morning low of $56,712.
Throughout the morning, Bitcoin fell short of the first major resistance level at $58,794, while also avoiding the first major support level at $55,519
However, the retreat saw Bitcoin fall back through the day’s pivot of $57,346.
For the Afternoon Ahead
To reach the first big resistance level at $58,794, Bitcoin would need to re-enter the $57,346 pivot.
Support from the broader market would be required for Bitcoin to re-enter the $58,000 range.
Unless there is a prolonged rally, the first significant resistance level should restrict the gains.
Before any reversal, Bitcoin might test resistance above $63,000 in the case of a broad-based crypto rise. The second significant resistance level is $60,621.
Failure to break through the $57,346 pivot level would reintroduce the first major…
