{"id":469698,"date":"2021-08-20T03:08:46","date_gmt":"2021-08-20T03:08:46","guid":{"rendered":"https:\/\/wncen.com\/?p=469698"},"modified":"2024-06-11T13:57:52","modified_gmt":"2024-06-11T13:57:52","slug":"bitcoin-regains-strength-50k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-regains-strength-50k\/","title":{"rendered":"TA: Bitcoin Regains Strength, Why BTC Could Hit $50 This Time"},"content":{"rendered":"
Bitcoin price traded to a new weekly low at $44,012 before recovering losses against the US Dollar. BTC is back above $47,000 and it may attempt to clear the $48,000 resistance.<\/em><\/p>\n Bitcoin price extended its decline<\/a> below the $44,200 support zone. However, BTC bulls were active above the $44,000 level. A low was formed near $44,012 before the price started a fresh increase.<\/p>\n There was a steady rise above the $45,000 and $45,500 resistance levels. The price cleared the 50% Fib retracement level of the main drop from the $48,100 swing high to $44,012 low. There was also a break above a key bearish trend line with resistance near $45,500 on the hourly chart of the BTC\/USD pair.<\/p>\n Bitcoin price is now trading above $46,000 and the 100 hourly simple moving average<\/a>. It is even trading above the 76.4% Fib retracement level of the main drop from the $48,100 swing high to $44,012 low.<\/p>\n <\/a><\/p>\n On the upside, an immediate resistance is near the $47,500 level. The first key resistance is near the $48,000 level and the last major swing high near $48,100. To continue higher, the price must clear the $48,000 resistance zone. The next major stop for the bulls could be $50,000.<\/p>\n If bitcoin fails to climb above the $48,000 and $48,100 resistance levels, it could start a downside correction. An initial support on the downside is near the $46,800 level.<\/p>\n The first major support is now near the $46,500 zone. The next key support is now near the $46,000 level and the 100 hourly SMA. If there is a clear break below $46,000, the price could revisit the $45,000 support zone.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is gaining pace 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 $46,500, followed by $46,000.<\/p>\n Major Resistance Levels \u2013 $47,500, $48,000 and $48,100.<\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin price traded to a new weekly low at $44,012 before recovering losses against the US Dollar. BTC is back above $47,000 and it may attempt to clear the $48,000 resistance. Bitcoin started a decent increase above the $45,500 and $46,000 resistance levels. The price is now trading above $46,000 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $45,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could accelerate further higher if it clears the $48,000 resistance zone in the near term. Bitcoin Price Eyes More Upsides Bitcoin price extended its decline below the $44,200 support zone. However, BTC bulls were active above the $44,000 level. A low was formed near $44,012 before the price started a fresh increase. There was a steady rise above the $45,000 and $45,500 resistance levels. The price cleared the 50% Fib retracement level of the main drop from the $48,100 swing high to $44,012 low. There was also a break above a key bearish trend line with resistance near $45,500 on the hourly chart of the BTC\/USD pair. Bitcoin price is now trading above $46,000 and the 100 hourly simple moving average. It is even trading above the 76.4% Fib retracement level of the main drop from the $48,100 swing high to $44,012 low. Source: BTCUSD on TradingView.com On the upside, an immediate resistance is near the $47,500 level. The first key resistance is near the $48,000 level and the last major swing high near $48,100. To continue higher, the price must clear the $48,000 resistance zone. The next major stop for the bulls could be $50,000. Dips Supported in BTC? If bitcoin fails to climb above the $48,000 and $48,100 resistance levels, it could start a downside correction. An initial support on the downside is near the $46,800 level. The first major support is now near the $46,500 zone. The next key support is now near the $46,000 level and the 100 hourly SMA. If there is a clear break below $46,000, the price could revisit the $45,000 support zone. Technical indicators: Hourly MACD \u2013 The MACD is gaining pace 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 $46,500, followed by $46,000. Major Resistance Levels \u2013 $47,500, $48,000 and $48,100.<\/p>\n","protected":false},"author":67,"featured_media":462816,"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-469698","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 Eyes More Upsides<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Dips Supported in BTC?<\/h2>\n