$50,000<\/a>.<\/p>\nFresh Dip in BTC?<\/h2>\n If bitcoin fails to clear the trend line resistance or $49,000, it could start a fresh downside correction. An initial support is near the $48,000 level.<\/p>\n
The first key support is near the $47,800 level and the 100 hourly simple moving average. Any more losses may possibly push the price lower towards the $47,000 support zone in the coming sessions.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is 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 $47,800, followed by $47,000.<\/p>\n
Major Resistance Levels \u2013 $48,500, $49,000 and $50,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price recovered nicely after diving towards the $46,000 zone against the US Dollar. BTC is eyeing a fresh increase above $49,000 and it may even test the $50,000 barrier. Bitcoin started a fresh increase after correcting lower to $45,700. The price is trading above the $47,000 support, but it is below the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $48,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to rally once there is a clear break above the $48,500 and $49,000 resistance levels. Bitcoin Price is Gaining Momentum There was a sharp downside correction in bitcoin price from the $49,700 high. BTC dived below the $48,000 and $47,000 support levels. However, the bulls were active above $45,000 and $45,500. A low was formed near $45,700 and the price recently started a steady increase. There was a break above the $47,000 resistance level. The price was able to climb back above the 50% Fib retracement level of the downward move from the $49,700 swing high to $45,700 low. It is now trading above the $47,000 support, but it is below the 100 hourly simple moving average. An immediate resistance is near the $48,500 level. There is also a key bearish trend line forming with resistance near $48,500 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com The next key resistance is near the $49,000 level. An intermediate resistance sits near the 76.4% Fib retracement level of the downward move from the $49,700 swing high to $45,700 low. A successful break above the trend line and then a follow up move above the $49,000 level may possibly start a strong increase in the coming sessions. The next major barrier for the bulls is near $50,000. Fresh Dip in BTC? If bitcoin fails to clear the trend line resistance or $49,000, it could start a fresh downside correction. An initial support is near the $48,000 level. The first key support is near the $47,800 level and the 100 hourly simple moving average. Any more losses may possibly push the price lower towards the $47,000 support zone in the coming sessions. Technical indicators: Hourly MACD \u2013 The MACD is 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 $47,800, followed by $47,000. Major Resistance Levels \u2013 $48,500, $49,000 and $50,000.<\/p>\n","protected":false},"author":67,"featured_media":456785,"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-456783","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n
TA: Bitcoin Holding Gains Above $45K, Why BTC Rally Isn\u2019t Over Yet<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n