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{"id":458259,"date":"2021-03-09T03:08:54","date_gmt":"2021-03-09T03:08:54","guid":{"rendered":"https:\/\/wncen.com\/?p=458259"},"modified":"2024-06-11T14:13:49","modified_gmt":"2024-06-11T14:13:49","slug":"bitcoin-btc-could-soon-hit-55k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-btc-could-soon-hit-55k\/","title":{"rendered":"TA: Bitcoin Rallies above $52K, Why BTC Could Soon Hit $55K"},"content":{"rendered":"

Bitcoin price rallied over 5% and it even broke the $52,000 resistance against the US Dollar. BTC is now above $53,000 and it is likely to continue higher towards $54,500 and $55,000.<\/em><\/p>\n

\n
Bitcoin extended its rise above the $51,500 and $52,000 resistance levels.<\/li>\n
The price is now trading well above $52,000 and the 100 hourly simple moving average.<\/li>\n
There was a break above a key resistance trend line at $52,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could correct a few points, but it is likely to find support near $52,800 and $52,000.<\/li>\n<\/ul>\n
Bitcoin Price Extends Increase<\/h2>\n
Yesterday, we saw a fresh increase<\/a> in bitcoin above the $50,000 resistance zone. BTC remained in a bullish zone and it was able to extend gains above $52,000 after a short-term downside correction.<\/p>\n
The bulls gained strength, resulting in a strong push above $52,000. There was also a break above a key resistance trend line at $52,800 on the hourly chart of the BTC\/USD pair. The pair cleared the 76.4% Fib retracement level of the key decline from the $52,748 swing high to $46,350 swing low.<\/p>\n
Bitcoin is now trading well above $52,000 and the 100 hourly simple moving average<\/a>. The price is trading nicely above the $53,000 level and it is likely to continue higher.<\/p>\n
$\"Bitcoin\"$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
An immediate resistance is near the $54,000 level. The first key resistance is near the $54,250 level. It is close to the 1.236 Fib extension level of the key decline from the $52,748 swing high to $46,350 swing low. The next major resistance for the bulls is near the $55,000 level. Any more gains could lead the price towards the $58,000 resistance zone and the all-time high.<\/p>\n
Dips Supported in BTC?<\/h2>\n
If bitcoin starts a downside correction, it is likely to remain well bid above $52,000. An initial support on the downside is near the $53,000 level.<\/p>\n
The first key support is near the $52,700 level and the broken trend line. Any more downsides might call for a test of the main $52,000 support zone in the coming sessions.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now gaining momentum in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well above the 60 level.<\/p>\n
Major Support Levels \u2013 $53,000, followed by $52,700.<\/p>\n
Major Resistance Levels \u2013 $54,000, $54,250 and $55,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price rallied over 5% and it even broke the $52,000 resistance against the US Dollar. BTC is now above $53,000 and it is likely to continue higher towards $54,500 and $55,000. Bitcoin extended its rise above the $51,500 and $52,000 resistance levels. The price is now trading well above $52,000 and the 100 hourly simple moving average. There was a break above a key resistance trend line at $52,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could correct a few points, but it is likely to find support near $52,800 and $52,000. Bitcoin Price Extends Increase Yesterday, we saw a fresh increase in bitcoin above the $50,000 resistance zone. BTC remained in a bullish zone and it was able to extend gains above $52,000 after a short-term downside correction. The bulls gained strength, resulting in a strong push above $52,000. There was also a break above a key resistance trend line at $52,800 on the hourly chart of the BTC\/USD pair. The pair cleared the 76.4% Fib retracement level of the key decline from the $52,748 swing high to $46,350 swing low. Bitcoin is now trading well above $52,000 and the 100 hourly simple moving average. The price is trading nicely above the $53,000 level and it is likely to continue higher. Source: BTCUSD on TradingView.com An immediate resistance is near the $54,000 level. The first key resistance is near the $54,250 level. It is close to the 1.236 Fib extension level of the key decline from the $52,748 swing high to $46,350 swing low. The next major resistance for the bulls is near the $55,000 level. Any more gains could lead the price towards the $58,000 resistance zone and the all-time high. Dips Supported in BTC? If bitcoin starts a downside correction, it is likely to remain well bid above $52,000. An initial support on the downside is near the $53,000 level. The first key support is near the $52,700 level and the broken trend line. Any more downsides might call for a test of the main $52,000 support zone in the coming sessions. Technical indicators: Hourly MACD \u2013 The MACD is now gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well above the 60 level. Major Support Levels \u2013 $53,000, followed by $52,700. Major Resistance Levels \u2013 $54,000, $54,250 and $55,000.<\/p>\n","protected":false},"author":67,"featured_media":458261,"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-458259","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: Bitcoin Rallies above $52K, Why BTC Could Soon Hit $55K<\/title>\n<meta name=\"description\" content=\"Bitcoin price rallied over 5% and it even broke the $52,000 resistance against the US Dollar. 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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: Bitcoin Rallies above $52K, Why BTC Could Soon Hit $55K","url":"http:\/\/wncen.com\/news\/bitcoin-btc-could-soon-hit-55k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-btc-could-soon-hit-55k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_199289291-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_199289291-1.jpg?fit=1000%2C667"},"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":"2021-03-09T03:08:54Z","datePublished":"2021-03-09T03:08:54Z","dateModified":"2024-06-11T14:13:49Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Rallies above $52K, Why BTC Could Soon Hit $55K\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-btc-could-soon-hit-55k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-btc-could-soon-hit-55k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_199289291-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_199289291-1.jpg?fit=1000%2C667\"},\"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\":\"2021-03-09T03:08:54Z\",\"datePublished\":\"2021-03-09T03:08:54Z\",\"dateModified\":\"2024-06-11T14:13:49Z\"}<\/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\/03\/shutterstock_199289291-1.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/458259"}],"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=458259"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/458259\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/458261"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=458259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=458259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=458259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}