{"id":462272,"date":"2021-04-25T04:28:29","date_gmt":"2021-04-25T04:28:29","guid":{"rendered":"https:\/\/wncen.com\/?p=462272"},"modified":"2024-06-11T13:55:14","modified_gmt":"2024-06-11T13:55:14","slug":"bitcoin-price-consolidates-near-50k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-consolidates-near-50k\/","title":{"rendered":"Bitcoin Price Consolidates Near $50K, Why BTC Bulls Could Fail Near $52.5K"},"content":{"rendered":"<p><em>Bitcoin price extended its decline below the $50,000 support against the US Dollar. BTC is now consolidating losses and it remains at a risk of more downside below $48,000.<\/em><\/p>\n<ul>\n<li>Bitcoin declined heavily below the $52,000 and $50,000 support levels.<\/li>\n<li>The price is now trading well below $52,000 and the 100 simple moving average (4-hours).<\/li>\n<li>There is a key bearish trend line forming with resistance near $52,800 on the 4-hours chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could correct losses, but it might face resistance near $52,000 and $52,500.<\/li>\n<\/ul>\n<h2>Bitcoin Price Turns Red<\/h2>\n<p>This past week, bitcoin price saw a <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-dives-below-51k\/\" target=\"_blank\" rel=\"noopener \">steady decline<\/a> from well above $60,000 against the US Dollar. The BTC\/USD pair broke many important supports near $55,000 and $52,500 to move into a bearish zone.<\/p>\n<p>The price even broke the $50,000 level and it settled below the 100 simple moving average (4-hours). It traded to a new weekly low at $47,511 before it started consolidating losses. There was a minor recovery above the $48,000 and $48,500 levels.<\/p>\n<p>There was a recovery above the 23.6% Fib retracement level of the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-stuck-in-range-55k\/\" target=\"_blank\" rel=\"noopener \">recent decline<\/a> from the $57,597 high to $47,511 low. It is now consolidating near the $50,000 level.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Bitcoin-19.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-462273\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Bitcoin-19.png?resize=1944%2C1149\" alt=\"Bitcoin Price\" width=\"1944\" height=\"1149\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Bitcoin-19.png?w=1944 1944w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Bitcoin-19.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Bitcoin-19.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Bitcoin-19.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Bitcoin-19.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Bitcoin-19.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Bitcoin-19.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<pre>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p>On the upside, the price is facing a major resistance near the $52,000 and $52,500 levels. There is also a key bearish trend line forming with resistance near $52,800 on the 4-hours chart of the BTC\/USD pair. The trend line is close to the 50% Fib retracement level of the recent decline from the $57,597 high to $47,511 low.<\/p>\n<p>A successful close above the $52,000 and $52,500 resistance levels could open the doors for a fresh increase in the coming sessions.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If bitcoin fails above the $52,000 level, there is a risk of more losses. The first major support is near the $48,200 and $58,000 levels.<\/p>\n<p>The next major support is near the $57,500 level. Any more losses might call for a fresh drop towards the $46,000 support level. In the stated case, there are even chances of a drop towards the key $45,000 support zone in the near term.<\/p>\n<p>Technical indicators<\/p>\n<p>4 hours MACD \u2013 The MACD for BTC\/USD is losing momentum in the bearish zone.<\/p>\n<p>4 hours RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well below the 50 level.<\/p>\n<p>Major Support Level \u2013 $47,500<\/p>\n<p>Major Resistance Level \u2013 $52,500<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price extended its decline below the $50,000 support against the US Dollar. BTC is now consolidating losses and it remains at a risk of more downside below $48,000. Bitcoin declined heavily below the $52,000 and $50,000 support levels. The price is now trading well below $52,000 and the 100 simple moving average (4-hours). There is a key bearish trend line forming with resistance near $52,800 on the 4-hours chart of the BTC\/USD pair (data feed from Kraken). The pair could correct losses, but it might face resistance near $52,000 and $52,500. Bitcoin Price Turns Red This past week, bitcoin price saw a steady decline from well above $60,000 against the US Dollar. The BTC\/USD pair broke many important supports near $55,000 and $52,500 to move into a bearish zone. The price even broke the $50,000 level and it settled below the 100 simple moving average (4-hours). It traded to a new weekly low at $47,511 before it started consolidating losses. There was a minor recovery above the $48,000 and $48,500 levels. There was a recovery above the 23.6% Fib retracement level of the recent decline from the $57,597 high to $47,511 low. It is now consolidating near the $50,000 level. Source: BTCUSD on TradingView.com On the upside, the price is facing a major resistance near the $52,000 and $52,500 levels. There is also a key bearish trend line forming with resistance near $52,800 on the 4-hours chart of the BTC\/USD pair. The trend line is close to the 50% Fib retracement level of the recent decline from the $57,597 high to $47,511 low. A successful close above the $52,000 and $52,500 resistance levels could open the doors for a fresh increase in the coming sessions. More Losses in BTC? If bitcoin fails above the $52,000 level, there is a risk of more losses. The first major support is near the $48,200 and $58,000 levels. The next major support is near the $57,500 level. Any more losses might call for a fresh drop towards the $46,000 support level. In the stated case, there are even chances of a drop towards the key $45,000 support zone in the near term. Technical indicators 4 hours MACD \u2013 The MACD for BTC\/USD is losing momentum in the bearish zone. 4 hours RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now well below the 50 level. Major Support Level \u2013 $47,500 Major Resistance Level \u2013 $52,500<\/p>\n","protected":false},"author":67,"featured_media":462274,"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-462272","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<title>Bitcoin Price Consolidates Near $50K, Why BTC Bulls Could Fail Near $52.5K<\/title>\n<meta name=\"description\" content=\"Bitcoin price extended its decline below the $50,000 support against the US Dollar. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. 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":"Bitcoin Price Consolidates Near $50K, Why BTC Bulls Could Fail Near $52.5K","url":"http:\/\/wncen.com\/news\/bitcoin-price-consolidates-near-50k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-consolidates-near-50k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Depositphotos_179514440_s-2019.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Depositphotos_179514440_s-2019.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":"2021-04-25T04:28:29Z","datePublished":"2021-04-25T04:28:29Z","dateModified":"2024-06-11T13:55:14Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Consolidates Near $50K, Why BTC Bulls Could Fail Near $52.5K\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-consolidates-near-50k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-consolidates-near-50k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/Depositphotos_179514440_s-2019.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/Depositphotos_179514440_s-2019.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\":\"2021-04-25T04:28:29Z\",\"datePublished\":\"2021-04-25T04:28:29Z\",\"dateModified\":\"2024-06-11T13:55:14Z\"}<\/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\/04\/Depositphotos_179514440_s-2019.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/462272"}],"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=462272"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/462272\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/462274"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=462272"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=462272"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=462272"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}