{"id":470153,"date":"2021-08-26T03:08:48","date_gmt":"2021-08-26T03:08:48","guid":{"rendered":"https:\/\/wncen.com\/?p=470153"},"modified":"2024-06-11T13:58:02","modified_gmt":"2024-06-11T13:58:02","slug":"bitcoin-attempts-fresh-increase-50k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-attempts-fresh-increase-50k\/","title":{"rendered":"TA: Bitcoin Attempts Fresh Increase, Why 100 SMA Is The Key"},"content":{"rendered":"<p><em>Bitcoin price found support near $47,150 and started a fresh increase against the US Dollar. BTC must settle above the 100 hourly SMA to continue higher.<\/em><\/p>\n<ul>\n<li>Bitcoin extended its decline and tested the $47,200 support zone.<\/li>\n<li>The price is now trading near $48,800 and the 100 hourly simple moving average.<\/li>\n<li>There was a break above a key bearish trend line with resistance near $48,850 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could extend its increase if there is a clear break above $49,200 and the 100 hourly SMA.<\/li>\n<\/ul>\n<h2>Bitcoin Price Regains Strength<\/h2>\n<p>Bitcoin price started a <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-downsides-below-47k\/\" target=\"_blank\" rel=\"noopener \">steady decline<\/a> below the $48,000 support. BTC even extended its decline below $47,500, but the bulls were active near $47,200.<\/p>\n<p>A low was formed near $47,165 and the price started a fresh increase. It broke the $48,000 and $48,500 resistance levels. There was a break above the 50% Fib retracement level of the downward move from the $50,520 swing high to $47,165 low.<\/p>\n<p>Besides, there was a break above a key bearish trend line with resistance near $48,850 on the hourly chart of the BTC\/USD pair. The pair even tested the $49,200 resistance zone.<\/p>\n<p>Bitcoin is now trading near $48,800 and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-rejected-above-50k\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>. The first major resistance is near the $49,200 level. It is close to the 61.8% Fib retracement level of the downward move from the $50,520 swing high to $47,165 low.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/Bitcoin-18.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-470154\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/Bitcoin-18.png?resize=1828%2C867\" alt=\"Bitcoin Price\" width=\"1828\" height=\"867\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/Bitcoin-18.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/Bitcoin-18.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/Bitcoin-18.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/Bitcoin-18.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/Bitcoin-18.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/Bitcoin-18.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/08\/Bitcoin-18.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>A clear break above the $49,200 resistance and a close above the 100 hourly SMA could open the doors for a steady increase. The next major stop for the bulls could be $50,000.<\/p>\n<h2>Fresh Decline in BTC?<\/h2>\n<p>If bitcoin fails to climb above the $49,200 resistance, it could start a fresh increase. On the downside, an immediate support is near the $48,500 level.<\/p>\n<p>The first key support is near the $48,000 level. If there is a downside break below the $48,000 level, the price could continue to move down. The next major support is near the $47,200 level. Any more losses could open the doors for a move towards the $46,500 support zone in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is losing pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $48,500, followed by $48,000.<\/p>\n<p>Major Resistance Levels \u2013 $49,000, $49,200 and $50,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price found support near $47,150 and started a fresh increase against the US Dollar. BTC must settle above the 100 hourly SMA to continue higher. Bitcoin extended its decline and tested the $47,200 support zone. The price is now trading near $48,800 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $48,850 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could extend its increase if there is a clear break above $49,200 and the 100 hourly SMA. Bitcoin Price Regains Strength Bitcoin price started a steady decline below the $48,000 support. BTC even extended its decline below $47,500, but the bulls were active near $47,200. A low was formed near $47,165 and the price started a fresh increase. It broke the $48,000 and $48,500 resistance levels. There was a break above the 50% Fib retracement level of the downward move from the $50,520 swing high to $47,165 low. Besides, there was a break above a key bearish trend line with resistance near $48,850 on the hourly chart of the BTC\/USD pair. The pair even tested the $49,200 resistance zone. Bitcoin is now trading near $48,800 and the 100 hourly simple moving average. The first major resistance is near the $49,200 level. It is close to the 61.8% Fib retracement level of the downward move from the $50,520 swing high to $47,165 low. Source: BTCUSD on TradingView.com A clear break above the $49,200 resistance and a close above the 100 hourly SMA could open the doors for a steady increase. The next major stop for the bulls could be $50,000. Fresh Decline in BTC? If bitcoin fails to climb above the $49,200 resistance, it could start a fresh increase. On the downside, an immediate support is near the $48,500 level. The first key support is near the $48,000 level. If there is a downside break below the $48,000 level, the price could continue to move down. The next major support is near the $47,200 level. Any more losses could open the doors for a move towards the $46,500 support zone in the near term. Technical indicators: Hourly MACD \u2013 The MACD is losing pace 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 $48,500, followed by $48,000. Major Resistance Levels \u2013 $49,000, $49,200 and $50,000.<\/p>\n","protected":false},"author":67,"featured_media":462714,"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-470153","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>TA: Bitcoin Attempts Fresh Increase, Why 100 SMA Is The Key<\/title>\n<meta name=\"description\" content=\"Bitcoin price found support near $47,150 and started a fresh increase 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":"TA: Bitcoin Attempts Fresh Increase, Why 100 SMA Is The Key","url":"http:\/\/wncen.com\/news\/bitcoin-attempts-fresh-increase-50k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-attempts-fresh-increase-50k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/shutterstock_764448946.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/shutterstock_764448946.jpg?fit=1000%2C577"},"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":"2021-08-26T03:08:48Z","datePublished":"2021-08-26T03:08:48Z","dateModified":"2024-06-11T13:58:02Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Bitcoin Attempts Fresh Increase, Why 100 SMA Is The Key\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-attempts-fresh-increase-50k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-attempts-fresh-increase-50k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_764448946.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_764448946.jpg?fit=1000%2C577\"},\"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\":\"2021-08-26T03:08:48Z\",\"datePublished\":\"2021-08-26T03:08:48Z\",\"dateModified\":\"2024-06-11T13:58:02Z\"}<\/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\/shutterstock_764448946.jpg?fit=1000%2C577","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/470153"}],"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=470153"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/470153\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/462714"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=470153"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=470153"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=470153"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}