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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.

SHA-256 research paper and referencing FIPS

I wasn’t sure about whether to post this here or not, but I assumed that it would be better to ask the specific topic community, rather than a general one, in regards to rules of writing papers on a specific matter. I apologize if I have missed it. Anyway, for my college thesis I’ve decided::Listen

I wasn’t sure about whether to post this here or not, but I assumed that it would be better to ask the specific topic community, rather than a general one, in regards to rules of writing papers on a specific matter. I apologize if I have missed it.

Anyway, for my college thesis I’ve decided to do a full stack project on SHA256. I’ve read and researched the FIPS PUB 180-4 top to bottom, made a very inclusive code in Python for demonstration purposes (step-by-step printing on every transformation, conversion, compression etc.) and now the time has come to put it all into a final paper.
My issue is in the understanding of the rules on proper quoting and referencing. The FIPS PUB is written so straightforward and simple that it is almost impossible to paraphrase anything, or, "write it in your own words", especially the math there. And it doesn’t make sense to quote literally everything. This is my first paper where I am basing everything on math. With any other subject, it was mostly a combination, and it wasn’t an issue.

So, to summarize, my questions are as followed:

  1. Can I just make a note on the abstract or somewhere that most of the writings are translated references and definitions from the official FIPS PUB document? And if not, how can I do this by the book?
  2. Since the FIPS PUB is an official publicly available document, where does the law stand on using it’s information in papers and research such as mine?

Just to note, this is not a thesis nor a college major in the sense of the public recognition like a doctorate or similar. It’s a thesis paper with which I complete one class. I am not sure if I am translating these terms correctly though.

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

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