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TA: Bitcoin Key Indicators Suggest Upside Continuation To $62K

Bitcoin is showing positive signs above the $57,000 level against the US Dollar. BTC could gain pace and it might even test the $60,000 resistance zone.

  • Bitcoin started a fresh increase and it broke the $58,500 level.
  • The price is now trading above $58,000 and the 100 hourly simple moving average.
  • There was a break above a key declining channel with resistance near $58,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could continue higher towards the $60,000 level in the near term.

Bitcoin Price Remains In Uptrend

Bitcoin price corrected a few points below the $58,000 level. However, downsides were limited below $57,000 and BTC started a fresh increase.

The price traded as low as $56,888 and started a fresh increase. It surpassed the $57,500 and $58,000 resistance levels. There was a break above a key declining channel with resistance near $58,000 on the hourly chart of the BTC/USD pair.

The pair is now trading above $58,000 and the 100 hourly simple moving average. It is now trading near the $59,000 zone. Besides, the price is testing the 1.236 Fib extension level of the downside correction from the $58,580 swing high to $56,888 low.

On the upside, an initial resistance is near the $59,500 level. The first key resistance is near the $59,650 level. It is near the 1.618 Fib extension level of the downside correction from the $58,580 swing high to $56,888 low.

Source: BTCUSD on TradingView.com

A clear break above the $59,650 resistance could open the doors for more upsides. The next major resistance sits near the $60,000 level, above which the price might surge towards the $62,000 level in the near term.

Dips Limited In BTC?

If bitcoin fails to clear the $59,500 resistance zone, it could start a downside correction. An immediate support on the downside is near the $58,200 level.

The first major support is now forming near the $58,000 level (the recent breakout zone). A downside break below the $58,000 level could spark a larger decline. The next major support is now near the $56,800 level and the 100 hourly SMA.

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 60 level.

Major Support Levels – $58,200, followed by $58,000.

Major Resistance Levels – $59,650, $60,000 and $62,000.

How to avoid re-entrance attacks when transferring tokens

I have a function that allows users to pay for a monthly subscription. I run slither on my smart contract I got a warning that I have a potential re-entrance attack because State variables written after the call(s): Should I move the transferFrom and sent require check to the end of the function? // smart::Listen

I have a function that allows users to pay for a monthly subscription. I run slither on my smart contract I got a warning that I have a potential re-entrance attack because State variables written after the call(s):

Should I move the transferFrom and sent require check to the end of the function?

// smart contract subscription(part of it) struct Subscription {         address payable subscriber;         uint start;         uint nextPayment;         bool activated;     }           /* nested mapping from address to id to Subscription */      mapping(address => mapping(uint => Subscription)) private AllSubscriptions;    function pay(address subscriber, uint planId) external {     Subscription storage subscription = subscriptions[subscriber][planId];     Plan storage plan = plans[planId];     IERC20 token = IERC20(plan.token);     require(       subscription.subscriber != address(0),        'this subscription does not exist'     );     require(       block.timestamp > subscription.nextPayment,       'not due yet'     );      bool sent = token.transferFrom(subscriber, plan.merchant, plan.amount);     require(sent, "token transfer failed");     emit PaymentSent(       subscriber,       plan.merchant,        plan.amount,        planId,        block.timestamp     );     subscription.nextPayment = subscription.nextPayment + plan.frequency;   } 

TA: Bitcoin Key Indicators Suggest Upside Continuation To $62K

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