Bitcoin Attempts to Jump the $57,000 Hurdle amidst $60,000 Expectation

[Rockalo]

Bitcoin (BTC) price rises to a high of $58,488 today but falls below the $57,000 resistance, with buyers struggling to keep the BTC price above the $57,000 high.

Since October 11, the uptrend has stalled below the recent high. Buyers and sellers are engaged in a price battle as the cryptocurrency pushes towards the previous highs.

On the upside, a break above the $57,000 high will guarantee a rally above the $60,000 psychological price level. Consequently, if buyers fail to hold above the $57,000 high, Bitcoin will fall back to the breakout level at the $52,000 support. However, if the support at $52,000 is broken, the price will continue to fall to the low at $48,000. Meanwhile, the BTC price is fluctuating below and above the high of $57,000. Moreover, the cryptocurrency is trading in the overbought region of the market. More information please click here