{"id":469309,"date":"2021-08-16T03:08:28","date_gmt":"2021-08-16T03:08:28","guid":{"rendered":"https:\/\/wncen.com\/?p=469309"},"modified":"2024-06-11T13:57:44","modified_gmt":"2024-06-11T13:57:44","slug":"bitcoin-price-aims-50k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-aims-50k\/","title":{"rendered":"TA: Why Bitcoin Price Aims $50K, Dips Remain Attractive"},"content":{"rendered":"
Bitcoin price started a fresh increase from the $45,500 support against the US Dollar. BTC is likely to accelerate higher above the $48,000 resistance zone.<\/em><\/p>\n Bitcoin price remained well bid above the $45,500 support zone. BTC traded as low as $45,564 and it recently started a fresh increase<\/a> above the $46,200 resistance level.<\/p>\n There was a break above a connecting bearish trend line with resistance near $46,500 on the hourly chart of the BTC\/USD pair. The pair even cleared the 61.8% Fib retracement level of the downward move from the $48,150 swing high to $45,564 low.<\/p>\n The pair is now trading below $47,000 and the 100 hourly simple moving average<\/a>. It is also above the 76.4% Fib retracement level of the downward move from the $48,150 swing high to $45,564 low.<\/p>\n <\/a><\/p>\n An immediate resistance on the upside is near the $48,000 level. The next key resistance is near the $48,150 level. The current price action suggests that bitcoin price may soon clear the $48,150 high. In the stated scenario, the price is likely to accelerate higher. The next main resistance could be $50,000.<\/p>\n If bitcoin fails to climb above the $48,000 and $48,150 resistance levels, it could start a downside correction. An initial support on the downside is near the $47,000 level.<\/p>\n The first major support is now near the $46,500 zone. The main support is now forming near the $46,250 level. There is also a major bullish trend line forming with support near $46,250 on the same chart. If the price fails to stay above the trend line support, it could move down towards the $45,500 support level. The next major support is near $44,500.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is well above the 50 level.<\/p>\n Major Support Levels \u2013 $46,250, followed by $45,500.<\/p>\n Major Resistance Levels \u2013 $48,000, $48,150 and $50,000.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price started a fresh increase from the $45,500 support against the US Dollar. BTC is likely to accelerate higher above the $48,000 resistance zone. Bitcoin is trading nicely above the $45,500 and $46,500 resistance levels. The price is now trading below $47,000 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $46,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is likely to extend its increase above the main $48,000 resistance zone. Bitcoin Price Gains Momentum Bitcoin price remained well bid above the $45,500 support zone. BTC traded as low as $45,564 and it recently started a fresh increase above the $46,200 resistance level. There was a break above a connecting bearish trend line with resistance near $46,500 on the hourly chart of the BTC\/USD pair. The pair even cleared the 61.8% Fib retracement level of the downward move from the $48,150 swing high to $45,564 low. The pair is now trading below $47,000 and the 100 hourly simple moving average. It is also above the 76.4% Fib retracement level of the downward move from the $48,150 swing high to $45,564 low. Source: BTCUSD on TradingView.com An immediate resistance on the upside is near the $48,000 level. The next key resistance is near the $48,150 level. The current price action suggests that bitcoin price may soon clear the $48,150 high. In the stated scenario, the price is likely to accelerate higher. The next main resistance could be $50,000. Dips Limited in BTC? If bitcoin fails to climb above the $48,000 and $48,150 resistance levels, it could start a downside correction. An initial support on the downside is near the $47,000 level. The first major support is now near the $46,500 zone. The main support is now forming near the $46,250 level. There is also a major bullish trend line forming with support near $46,250 on the same chart. If the price fails to stay above the trend line support, it could move down towards the $45,500 support level. The next major support is near $44,500. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is well above the 50 level. Major Support Levels \u2013 $46,250, followed by $45,500. Major Resistance Levels \u2013 $48,000, $48,150 and $50,000.<\/p>\n","protected":false},"author":67,"featured_media":455673,"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-469309","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\n
Bitcoin Price Gains Momentum<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Dips Limited in BTC?<\/h2>\n