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{"id":456562,"date":"2021-02-12T03:18:26","date_gmt":"2021-02-12T03:18:26","guid":{"rendered":"https:\/\/wncen.com\/?p=456562"},"modified":"2024-06-11T14:13:18","modified_gmt":"2024-06-11T14:13:18","slug":"bitcoin-bulls-could-aim-50k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-bulls-could-aim-50k\/","title":{"rendered":"TA: Why Bitcoin Bulls Could Aim $50K After Recent Rally To $48.6K"},"content":{"rendered":"

Bitcoin price started a fresh upward move from the $44,000 zone against the US Dollar. BTC traded to a new all-time high near $48,680 and it is likely to continue higher towards $50,000.<\/em><\/p>\n

\n
Bitcoin is showing a lot of positive signs above the $46,000 and $47,500 resistance levels.<\/li>\n
The price is trading above the $48,000 resistance and the 100 hourly simple moving average.<\/li>\n
There is a key contracting triangle pattern forming with support near $47,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair is likely to continue higher towards the $50,000 level as long as it is above $47,000.<\/li>\n<\/ul>\n
Bitcoin Price is Eyeing More Upsides<\/h2>\n
After correcting lower towards the $44,000 level, bitcoin price started a fresh upward move<\/a>. BTC broke the $46,000 resistance level and remained stable above the 100 hourly simple moving average.<\/p>\n
As a result, the bulls were able to push the price above the $47,000 and $47,500 resistance levels. The price is now trading nicely above $48,000 and it even carved a new all-time high<\/a> at $48,680. It is now consolidating gains above the $48,000 level.<\/p>\n
An initial support is near the $47,570 level. It is close to the 23.6% Fib retracement level recent wave from the $44,005 swing low to $48,680 high. There is also a key contracting triangle pattern forming with support near $47,000 on the hourly chart of the BTC\/USD pair.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
The triangle support is close to the 50% Fib retracement level recent wave from the $44,005 swing low to $48,680 high. On the upside, the $48,500 region is a short-term resistance. The next key resistance might be near the $49,400 level. The overall price action suggests that bitcoin bulls might aim a test of $50,000 in the near term.<\/p>\n
Dips Limited in BTC?<\/h2>\n
If bitcoin fails to continue higher, it could correct lower below the $47,500 level. The first major support is near the $47,000 level and the triangle lower trend line.<\/p>\n
The main support is now forming near the $45,000 level or the 100 hourly simple moving average. Any more losses could open the doors for a drop below the $44,000 support in the near term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is slowly gaining momentum in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n
Major Support Levels \u2013 $47,000, followed by $45,000.<\/p>\n
Major Resistance Levels \u2013 $48,500, $49,400 and $50,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price started a fresh upward move from the $44,000 zone against the US Dollar. BTC traded to a new all-time high near $48,680 and it is likely to continue higher towards $50,000. Bitcoin is showing a lot of positive signs above the $46,000 and $47,500 resistance levels. The price is trading above the $48,000 resistance and the 100 hourly simple moving average. There is a key contracting triangle pattern forming with support near $47,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to continue higher towards the $50,000 level as long as it is above $47,000. Bitcoin Price is Eyeing More Upsides After correcting lower towards the $44,000 level, bitcoin price started a fresh upward move. BTC broke the $46,000 resistance level and remained stable above the 100 hourly simple moving average. As a result, the bulls were able to push the price above the $47,000 and $47,500 resistance levels. The price is now trading nicely above $48,000 and it even carved a new all-time high at $48,680. It is now consolidating gains above the $48,000 level. An initial support is near the $47,570 level. It is close to the 23.6% Fib retracement level recent wave from the $44,005 swing low to $48,680 high. There is also a key contracting triangle pattern forming with support near $47,000 on the hourly chart of the BTC\/USD pair. The triangle support is close to the 50% Fib retracement level recent wave from the $44,005 swing low to $48,680 high. On the upside, the $48,500 region is a short-term resistance. The next key resistance might be near the $49,400 level. The overall price action suggests that bitcoin bulls might aim a test of $50,000 in the near term. Dips Limited in BTC? If bitcoin fails to continue higher, it could correct lower below the $47,500 level. The first major support is near the $47,000 level and the triangle lower trend line. The main support is now forming near the $45,000 level or the 100 hourly simple moving average. Any more losses could open the doors for a drop below the $44,000 support in the near term. Technical indicators: Hourly MACD \u2013 The MACD is slowly gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $47,000, followed by $45,000. Major Resistance Levels \u2013 $48,500, $49,400 and $50,000.<\/p>\n","protected":false},"author":67,"featured_media":456564,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1144,78790,76835],"class_list":["post-456562","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nTA: Why Bitcoin Bulls Could Aim $50K After Recent Rally To $48.6K<\/title>\n<meta name=\"description\" content=\"Bitcoin price started a fresh upward move from $44,000. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/wncen.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"TA: Why Bitcoin Bulls Could Aim $50K After Recent Rally To $48.6K","url":"http:\/\/wncen.com\/news\/bitcoin-bulls-could-aim-50k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-bulls-could-aim-50k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/02\/shutterstock_631992692-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/02\/shutterstock_631992692-1.jpg?fit=1000%2C692"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btcusd","btcusdt","xbtusd"],"dateCreated":"2021-02-12T03:18:26Z","datePublished":"2021-02-12T03:18:26Z","dateModified":"2024-06-11T14:13:18Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Why Bitcoin Bulls Could Aim $50K After Recent Rally To $48.6K\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-bulls-could-aim-50k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-bulls-could-aim-50k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/02\\\/shutterstock_631992692-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/02\\\/shutterstock_631992692-1.jpg?fit=1000%2C692\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2021-02-12T03:18:26Z\",\"datePublished\":\"2021-02-12T03:18:26Z\",\"dateModified\":\"2024-06-11T14:13:18Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/02\/shutterstock_631992692-1.jpg?fit=1000%2C692","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/456562","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=456562"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/456562\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/456564"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=456562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=456562"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=456562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}